Tag: Citi Business News
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BoG establishes Financial Industry Security Operating Centre to reduce cyber fraud
Bank of Ghana is seeking to significantly reduce Automatic Teller Machine (ATM) and cyber-related fraud with the setting up of a Financial Industry Security Operating Centre, to ensure a safer cyberspace for the banking sector in Ghana. The assurance follows a rise in the number and value of ATM fraud cases and other types of…
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AfCFTA Secretariat to conclude on rules of origin policy soon – Wamkele Mene
Secretary-General of the African Continental Free Trade Area Secretariat, Wamkele Mene, says the issue of rules of origin under the agreement will be concluded in the next couple of weeks. He stated that “We have made 80 percent progress. Out of almost 8,000 products, we’ve agreed on 86 percent of those rules. We have a…
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Work to improve GWCL’s finances – Cecilia Dapaah to board
The Minister of Sanitation and Water Resources, Madam Cecilia Dapaah, says she expects the newly sworn-in board of the Ghana Water Company to ensure that it improves the debt situation of the company. The minister was speaking during the swearing-in of the 11-member board of the utility company. She further called on the Board to…
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Implement market fire reports to prevent reoccurrence of such incidents – BPS
The Bureau of Public Safety says the country may continue to record fire outbreaks in its markets unless it begins to make public reports of earlier incidents and implement findings stated in these reports. Executive Director of the Bureau of Public Safety, Nana Yaw Akwada, stressed that until that is done, these fires would continue…
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Official Liquidator to host investor class meeting for customers of defunct FMCs
The Official Liquidator for the defunct Fund Management Companies (FMCs) will on Thursday, September 23, 2021, have an investor class meeting with customers of some of the financial defunct institutions. A statement issued by the Registrar-General, Jemima Oware, stated that the meeting will be held online on the said date. The statement also announced that…
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STC lost over GH¢40M due to COVID-19 restrictions – Nana Akomea
The Managing Director of the State Transport Company (STC), Nana Akomea, says the imposition of COVID-19 restrictions has resulted in the loss of about GH¢48 million so far to the company. According to him, the company’s operations in neighbouring countries like the Ivory Coast, Burkina Faso, Togo and Benin, which proved to be very profitable,…
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Ghana’s local industry can’t progress without political will – Prof. Mensah
Financial Economist and Senior Lecturer at the University of Ghana Business School, Professor Lord Mensah says growing Ghana’s local industry will require strong political will and commitment. He argues that beyond putting in place policies in that direction, the political class must put their feet in the game. “You see, as a country, you should…
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Ghana’s real estate industry can recover despite impact of COVID-19 – Greg Pearson
Players in the real estate industry are hopeful of a major turnaround of the sector locally, despite the impact of the COVID-19 pandemic. The sector took a nosedive due to the outbreak of COVID-19. Several months down the lane, with a global rollout of vaccines, easing of some restrictions, economies have begun to pick up.…
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Ghana must become shareholder in oil extraction to boost earnings – Energy Consultant
Energy Consultant Dr Yussif Sulemana says Ghana must move from relying on returns from royalties to maximise its revenues from the extractive industry. His comment is a reaction to an analysis done by the Institute of Fiscal Studies (IFS) that showed that Ghana’s revenue from its oil was about a quarter of that of Nigeria…
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We don’t expect ban on setting up of LPG stations to be lifted – Bureau of Public Safety
The Bureau of Public Safety says it does not expect the ban on the construction of Liquified Petroleum Gas (LPG) stations in the country to be lifted. It says it rather anticipates the green light for the siting of LPG cylinder recirculation distribution points to be given. Chief of Party at the Bureau of Public…