Tag: 2020
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GUTA to commence cross-border trading with Nigeria
The Ghana Union of Traders Association (GUTA) says its members will commence brisk business with Nigeria with the reopening of the country’s land borders. Speaking to Citi Business News, President of the Association, Dr Joseph Obeng, says the opening of the borders is timely for the business of its members. He stated that “It is…
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Ghana can benefit from AfCFTA with hemp production – Business consultant
Business Consultant, Nataki Kambon, says Ghana stands to benefit immensely from the Africa Continental Free Trade Area Agreement (AfCFTA) if it can take advantage of the production of Indian hemp in the country. Parliament earlier this year passed a bill which allows for the cultivation of cannabis solely for industrial and medicinal use. Nataki believes…
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Ghana made $5.2 billion oil cash from 2011 to 2020 – Natural Resource Governance Institute
A recent report by the Natural Resource Governance Institute has revealed that Ghana has so far made 5.2 billion US dollars from the sale of crude oil. The report indicated that the amount realized was from the sale of 73 cargos of oil by the Ghana National Petroleum Corporation (GNPC). The report titled “Ghana’s Oil…
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Privatise TOR if you can’t manage it – Energy consultant to government
Energy Consultant, Dr Yussif Sulemana, says government ought to consider privatizing the Tema Oil Refinery (TOR) in order to keep the entity operational. But Dr. Sulemana says, for such an entity that can play a major role in ensuring the country is energy efficiency, all options must be considered to make it fully functional. He…
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COPEC predicts 5% increase in fuel prices
The Chamber of Petroleum Consumers (COPEC) is predicting an increase in prices of fuel in Ghana in the coming days. COPEC believes the increment is likely to be seen in the second pricing window in December 2020. The Chamber indicated that the slight depreciation of the cedi among other things is a reason for this…
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Bui Authority Bill will help diversify our revenue sources – Fred Oware
Bui Power Authority is anticipating an increase in revenue in the coming years. Speaking to Citi Business News, Chief Executive Officer of the Authority, Fred Oware, said the passage of the Bui Power Authority bill will help diversify the financial streams of his outfit. He indicated that, “We think that we should operate quite profitably,…
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Stakeholders commend WRS training programme
Stakeholders from the regulatory agencies and the private sector have commended the Ghana Warehouse Receipt System (WRS) project of the International Finance Corporation (IFC) for building their knowledge and capacity towards effective warehouse inspection. At the end of a two-day virtual training workshop, participants observed that the training had helped them understand technical, regulatory and…
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Insure your premises against eventualities – SIC urges businesses
SIC Insurance Company has reiterated the need for businesses to begin paying critical attention to insuring their buildings. Over the weekend, fire gutted the first floor of the GBC Liberty House Branch at Katamanto in Accra. Head of Corporate and Special Risk at SIC, Emmanuel Simpiney-Mensah, emphasized that the role of insurance in minimizing business…
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AfCFTA: AGI wants electricity tariffs reviewed downwards
The Association of Ghana Industries (AGI), says in order for its members to adequately compete upon the implementation of the Africa Continental Free Trade Area (AfCFTA), electricity tariffs would have to be revised downwards. AGI argues that the cost of electricity is relatively higher in Ghana as compared to other countries in the subregion. Speaking…
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SIC to pay GCB Bank claims after Saturday’s fire
SIC, the insurers of the GCB Bank Liberty House Branch at Katamanto in Accra have commenced processes to assess damage and pay claims as may be necessary to the company following a fire outbreak at the facility on Saturday. Speaking to Citi Business News, Head of Corporate and Special Risk at SIC, Emmauel Simpiney-Mensah said…