Tag: Citi Business News
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Global oil prices to hit 60 dollars a barrel, 1st quarter 2021 – Analyst
Energy Consultant, Dr Yussif Sulemana is predicting that oil prices on the global market are likely to hit 60 dollars per barrel in the first quarter of 2021. Currently, Brent crude oil is selling for about 55.78 dollars per barrel increasing by a little over 4 dollars since the start of the year. Dr Sulemana…
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Follow COVID-19 protocols or we risk another lockdown- GUTA to traders
The Ghana Union of Traders Association (GUTA) is admonishing its members to ensure strict compliance with the COVID-19 protocols as they conduct their businesses. According to the association, the call has become necessary due to another spike in the number of cases recorded in Ghana. In an interview with Citi Business News, President of the…
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Ghana receives €9.7 million EU Grant to improve access to electricity
The European Union (EU), through the French Development Agency – Agence Francaise Development (AFD) – has approved a new €9.7 million euros grant for the Ghana Grid Company (GRIDCo) to boost infrastructure works on the interconnection line between Ghana and Burkina Faso. This is expected to increase electricity access in Northern Ghana and exporting capacity…
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Construction Chamber welcomes Akufo-Addo’s new ministerial appointments
The Ghana Chamber of Construction Industry has lauded President Akufo-Addo for his ministerial appointments. The chamber is particularly pleased with the proposed names for sectors related to the construction industry. They are; Kwasi Amoako-Atta: – Roads & Highways Francis Asenso Boakye: – Works & Housing Dr Matthew Opoku Prempeh: Energy Ken Ofori-Atta: – Finance Yaw…
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ASEPA kicks against re-nomination of Ofori-Atta as Finance Minister
The Alliance for Social Equity and Public Accountability (ASEPA) is kicking against the re-nomination of Ken Ofori-Atta as Finance Minister. In a 37 paged petition to the Appointments Committee of Parliament, the group indicated that based on Mr Ofori-Atta’s role in the collapse of a number of financial institutions, among others, it believes he is…
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AfCFTA: Economist calls for improved ease of doing business to boost trade in Ghana
Three weeks into the operationalization of the African Continental Free Trade Area (AfCFTA) agreement, Economist Dr Adu Owusu Sarkodie has indicated that for Ghana to be able to take full advantage of the Agreement, ease of doing business in the country has to be significantly improved. Economist Dr Adu Sarkordie believes that easing business processes…
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Expected maize imports will help mitigate shortage in Ghana – Poultry Farmers Association
The Greater Accra Poultry Farmers Association is hopeful measures put in place by the government to mitigate the impact of a likely shortage of maize locally, will yield results. There have been hints of a likely shortage of maize in some parts of the Northern Regions. Speaking to Citi Business News, President of the Greater…
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AfCFTA: Construction Chamber advocates for reduction of lending rate
The Ghana Chamber of Construction Industry has joined calls for a relook at the lending rate in the country especially with the commencement of the African Continental Free Trade Area (AfCFTA) Agreement. The Construction Chamber argues that the rate puts its members at a disadvantage amongst other African countries with access to cheaper credit. In…
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Public Enterprises Minister must prioritize profitability of SOEs – Economist
President Nana Addo Dankwa Akufo-Addo on January 21, 2021, submitted the list of proposed Ministers of his new government to the Speaker of Parliament for approval. Among the new nominees is Joseph Cudjoe, a former Deputy Minister of Energy, who has been put forward as Minister for Public Enterprises, and is expected to oversee the…
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Kawa Moka strives to transform Ghana’s coffee industry
The global chocolate industry is worth $100 billion. Multi-national companies such as Mars, Mondelez International, and Nestle rake in billions of dollars of revenue each year. Ghana, one of the leading producers of cocoa globally, makes a mere $2 billion from the industry. Last year, the Minister of Agriculture, Dr. Owusu Afriyie Akoto, informed the…