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Citi FM’s ‘Business festival’ opens with Management Development Month

Citi FM’s month-long Business Festival starts today Monday [June 1, 2015] with the ‘Management Development Month Series’ (MDM), the famed on-air business education programme. The MDM series, will air on the award winning Citi Breakfast Show with Bernard Avle on 97.3 Citi FM and will feature key business leaders speaking on a variety of business related topics. The first day ...

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PPI inches up to 19.5 %

Philomena Nyarko, Government Statistician

The Producer Price Inflation (PPI) for industry for the month of April 2015 hit 19.5%, 0.3% points up from the 19.2% it recorded in the month of March. This rate indicates that, between April 2014 and April 201 5 (year – on – year ), the PPI increased by 19.5 percent, representing a 0.3 percentage point increase in producer inflation ...

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Darko farms to supply 87% of poultry products to KFC

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Fast food giant, KFC has signed a partnership with indigenous poultry farm, Darko Farms to supply the company with local poultry products. The agreement will see about 87percent of poultry products being supplied by Darko farms to KFC. The venture by KFC and Darko Farms far exceeds the 40percent target by government to reduce the importation of poultry as a ...

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EU denies placing ban on cereals and groundnuts from Ghana

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The European Union (EU) has denied reports that it has placed a ban on cereals and groundnuts from Ghana. Earlier reports suggested that the EU had banned cereals and groundnuts Ghana from accessing their markets because they contain high levels of aflatoxin. But a press statement from the union denied the report. Aflatoxins are a highly toxic group of mycotoxins, ...

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Zoobashop sues Courier Services Commission

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Online retail shop, Zoobashop has sued the Courier Services Commission following a raid on its offices by the commission last week. Citi Business News has learnt management of Zoobashop filed the suit last week and has since served the commission. However according to the Courier Services Commission the raid was part of measures by the commission to flush out illegal ...

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Stabilization fund & Eurobond cash to nurse Ghana’s debts

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Government in a bid to drastically reduce Ghana’s growing debt levels has settled on a number of measures it believes will deal with the matter. According to figures from the Bank of Ghana, the country’s current total public sector debt stock stood at 88.2 billion cedis at the end of March 2015, representing 65.3 percent of GDP. Ghana’s debt There ...

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Govt debt inches up to 88.2 billion in 3 months

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Government borrowed 12.1 billion cedis in the first three months of 2015. According to figures from the Bank of Ghana, the country’s current total public sector debt stock stood at 88.2 billion cedis at the end of March 2015, representing 65.3 percent of GDP. There is already a huge debate about how government’s continuous appetite for borrowing is not sustainable ...

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ECG to drag Ashanti region residents to court

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The Electricity Company of Ghana (ECG) has served notice of plans to sue residents and companies in the Ashanti region who are still indebted to the company. According to ECG it estimates the debts to run in excess of 90 million Ghana cedis and it is bent on retrieving all these monies. Hundreds of residents in the Ashanti region who ...

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Over 20 hotels to shut down over ‘dumsor’

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The Ghana Tourism Authority (GTA) fears the likely shut down of hotels in the country due to the ongoing power crisis will have dire consequences on the country’s revenue. The Hotels Association of Ghana has warned close to twenty hotels are likely to shut down within the next six months if the current power crisis continues. Hundreds of hotel staff ...

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Cocobod pulls out of HFC bank

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Cocobod, Ghana’s regulator for the cocoa industry has pulled out of HFC bank. Cocobod was one of four large institutional shareholders of HFC bank. The others are Social Security and National Insurance Trust (SSNIT), Ghana Union Assurance company and SIC. Cocobod stake Prior to Cocobod’s pullout it owned about 5.57 percent stake in the bank. But it sold its shares ...

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