Tag: Citi Business News
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Construction Chamber calls on government to constitute Road Fund Board
The Ghana Chamber of Construction Industry has called on the government to immediately constitute the Road Fund Board. The Chamber said the constitution of the board would ensure its members who are owed monies as far back as 2017 are paid. Chief Executive Officer of the Ghana Chamber of Construction Industry, Emmanuel Cherry, stated that…
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Fix TOR and BOST to cushion consumers from fuel price hikes – COPEC
As fuel prices continue to rise at the pumps, the Chamber of Petroleum Consumers (COPEC) says the situation will not change until institutions like the Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company Limited run at full capacity. According to COPEC, once the entities commence operations, they should be able to…
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Banking sector cleanup: Allow the law to take its course – BoG Governor urges Parliament
The Governor of the Bank of Ghana, Dr. Ernest Addison, has asked Parliament to allow the law to take its course in the ongoing legal tussle regarding the revocation of licences of some financial institutions in the country. While the government has issued criminal proceedings against some shareholders of financial institutions whose licences were revoked,…
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BoG must sanction banks that flout new directives on fees and charges – Banking Consultant
A Banking consultant, Dr. Akwasi Atuahene, has called on the Bank of Ghana to take action against financial institutions that fail to implement its new directives to stop deducting some charges and fees on the accounts of customers. The Central Bank in a statement on Friday, June 18, 2021, directed banks and Specialized Deposit-Taking institutions…
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African Development Bank to invest $3 billion in Africa’s pharmaceutical industry
In recognition of the devastating effects of the COVID-19 pandemic on African economies, the President of the African Development Bank, Akinwumi Adesina, says the bank is willing to help West African countries accelerate growth and development to ensure economic stability. Speaking at the opening of the 59th ECOWAS Heads of State and Authority summit in…
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Citi Business Festival enters week four; focuses on trade, export and AfCFTA
The Citi Business Festival continues this week with conversations on Trade, Export and the African Continental Free Trade Area (AfCFTA). The AfCFTA presents a massive opportunity for Ghanaian businesses to take advantage of the huge African market. However, taking advantage of the opportunity is not straightforward. Ghanaian businesses need to become more competitive in different…
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TOR: 3-member interim management committee sworn in after firing of MD and deputy
The Minister for Energy, Dr. Matthew Opoku Prempeh, has sworn into office a 3-member Interim Management Committee (IMC) to oversee the affairs of the Tema Oil Refinery as part of efforts to restructure and revamp the refinery. The Chairman of the 3-member IMC is Mr. Nobert Cormla-Djamposu Anku. The other members are Mr. William Ntim…
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Don’t under-declare goods at ports, ICUMS will flag you – Importers warned
The Importers and Exporters Association of Ghana is urging its members to avoid under-declaring their goods in order not to fall foul of the law. According to the association, under the Integrated Customs Management System (ICUMS) persons who engage in such activities will be exposed. Samson Asaki Awingobit, the Executive Secretary of the Importers and…
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Stakeholders kick against calls by BOST for introduction of fuel reserve levy
Some stakeholders have reacted to recent calls by the Bulk Oil Distribution company for a new levy to be introduced to help it improve upon the country’s current oil reserves. According to BOST, the country has just about two weeks of reserves to serve the country hence its call. The Bulk Oil Storage and Transportation…
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Police must insist on bulletproof bullion vans – Security Analyst
Security Analyst, Superintendent Retired Francis Baah, is calling for the deployment of bulletproof bullion vans for the transportation of cash and valuables in the country. This comes after the killing of a police officer and one unidentified woman by suspected armed robbers who shot them during a bullion van robbery on Monday at James Town,…