Tag: Citi Business News
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First Atlantic Bank seeking to transform into a global bank
The Board of Directors and management of First Atlantic Bank (FAB) have reiterated their commitment to transforming the bank into a global bank. This was announced by the Board Chairman of the bank, Mr Amarquaye Armar at a tape cutting ceremony to climax its one-month-long silver jubilee celebrations at its head office in Accra. Speaking…
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Stanbic Bank Ghana, KfW Investing for Employment facility launch joint project to support SMEs
Stanbic Bank Ghana in partnership with the German Government has launched a project to support the preservation of employment by Small and Medium Enterprises (SME) in Ghana against the effects of the COVID-19 pandemic. Under the project, the German Government via the KfW Investing for Employment (IFE) facility, will provide a total grant funding of…
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Don’t expect rapid economic growth after resumption of international travel – Economist
Ghanaians have been advised to be measured in their expectation of the economic impact of the reopening of the country’s air borders. This advice was given by economist and lecturer at the University of Ghana, Dr. Adu Owusu Sarkodie. President Nana Addo Dankwa Akufo-Addo has announced the reopening of the Kotoka International Airport for international…
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Kotoka International Airport to reopen from September 1; land, sea borders remain closed
Ghana’s Kotoka International Airport will be re-opened to international flights effective Tuesday, September 1, 2020. This was announced by President Nana Addo Dankwa Akufo-Addo during his 16th address to the nation on measures taken by the government to curb the spread of the COVID-19 pandemic in the country. According to him, every passenger who arrives…
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Receiver struggles to retrieve records of 35 defunct financial institutions to validate GHS252M claims
The Receiver of the 347 defunct Microfinance companies, 23 Savings and Loans and Finance Houses, Eric Nana Nipah, says he is unable to undertake a detailed asset tracing of 35 resolved companies to enable him validate and settle claims of depositors under the Depositor Payment Scheme. According to him, he is still working with the…
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GREDA laments lack of continuity of government’s housing policies
The Executive Secretary of the Ghana Real Estate Development Association, GREDA, Sammy Amegayibor, has stated that the lack of continuity among different governments in the country will affect the housing sector. According to him, this does not augur well for the country’s development in housing delivery. His claims follow the Vice President, Dr. Mahamudu Bawumia’s…
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Ten benefits from NPP’s 2020 manifesto people in agriculture are likely to enjoy
The role of agriculture in accelerating the economic progress and development of any country cannot be underestimated. In Ghana, the agricultural sector has suffered many setbacks. Successive governments have not been able to do much to transform the sector from its present state to one which produces more yield and high income for farmers and…
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Remittances into Ghana shoot up despite impact of COVID-19 on jobs abroad
Data from the Bank of Ghana made available to Citi Business News shows that the flow of remittances into the country went up marginally within the first half of the year, compared to the same period in 2019 despite the impact of COVID-19 on jobs both home and abroad. The remittances for the first half…
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41 shops of foreigners engaged in retail trade locked up at Suame Magazine
Forty-one shops belonging to some foreigners engaging in retail trade at the Suame Magazine Industrial area have been locked up. This was part of a nationwide exercise by the Committee on Foreigners in Retail Trade. The committee is undertaking the exercise following concerns by Ghanaian traders that some foreigners were in the retail space unlawfully.…
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Critics of Agyapa Royalties agreement lack understanding of deal – Adu Boahen
A Deputy Minister of Finance, Charles Adu Boahen has accused critics of the Agyapa Royalties mineral agreements, which seeks to leverage Ghana’s gold royalties to raise capital on the London and Ghana stock exchanges, of lacking understanding of the current deal hence their opposition. His claim follows misgivings from some stakeholders about various aspects of…