Tag: Ghana Business News
-
Banks could meet increased capital requirement – Institute of Bankers
The Chartered Institute of Bankers (CIB) is highly confident of the industry’s ability to meet the proposed increase in the minimum capital requirement for banks. The Institute contends that the changing phase of banking requires huge investments hence an increase should position its members to meet the challenge. Citi Business News has learnt that the…
-
Remitting money to Ghana to drop by 40% by 2020
Government is seeking to reduce the cost of remittances to Ghana by at least forty percent within the next three years. This will represent a third of the average cost of remitting money to Ghana currently. It follows a 2.6 million dollar grant facility to the government of Ghana to support organizations or individuals within…
-
Ghana’s economy to grow by 7% in 2017 – World Bank
The World Bank is confident of a rebound in Ghana’s economic growth this year. To this end, the Bank has projected a growth target of 6 to 7 percent for 2017. It is however expecting the figure to inch up higher in 2018 and subsequent years. The 6 to 7 percent growth target by the…
-
Zenith Bank’s profits increase by 68% in 2016
In the third of our series on companies’ performances in 2016, we throw the spotlight on Zenith Bank today. In 2016, Zenith Bank’s profits went up by 68 percent. The figure increased from GH¢83,076,943 to GH¢140,265,212 between 2015 and 2016. Zenith Bank’s profits went up in 2016 after recording a drop in profits between 2014…
-
Ghana to suffer reputation crisis over illegal fuel trade
Ghana’s international reputation will suffer a dip if it fails to stop the illegal sale of petroleum products in the immediate term. According to some industry watchers, the country could serve as an attractive destination for pirates as they would capitalize on the lax regime to perpetuate their illegal acts. The caution comes days after…
-
![Does Intellectual Property Rights system work in Ghana? [Article]](https://citibusinessnews.com/wp-content/uploads/2017/05/intellectual-property-1.jpg)
Does Intellectual Property Rights system work in Ghana? [Article]
“Does that “thing” work in Ghana? I mean that Intellectual Property thing”, my friend Dzifa asked me innocently. I smiled. It was not an unusual question. Intellectual property generally refers to creations of the mind or intellect. We are all naturally creative, finding solutions to our day-to-day problems. There are some exceptional people among us…
-
COPEC demands arrest of illegal petroleum traders
The Chamber of Petroleum Consumers (COPEC) is calling on government to urgently investigate and arrest culprits involved in the illegal sale of petroleum products. COPEC believes this will ensure the immediate halt of the illegal activity and revamp the once vibrant sector. Oil Marketing Companies on Tuesday revealed that about 4,000 workers may lose their…
-
Banks’ NPLs to worsen over huge petroleum debts – OMCs
The Non-Performing Loans (NPLs) of commercial banks is likely to worsen if government fails to stop the illegal trade in the petroleum downstream sector. According to the Association of Oil Marketing Companies (AOMCs), the development has made it difficult for their members to repay debts due to the low sales. The caution by the OMCs…
-
Power to be restored in three hours’ time – GRIDCo
The Ghana Grid Company (GRIDCo) is assuring consumers of electricity that power will be restored at least within the next three hours. Power was cut to most parts of the country on Wednesday night and it is yet to be restored in some of the affected areas. But the CEO of GRIDCo, Engineer William Amuna…
-
HFC Bank’s loss decreases marginally to GH¢38.6m in 2016
HFC Bank has posted an operating loss for the second year in a row though the figure has dropped marginally. The Bank’s 2016 financial statement showed that the loss for 2016 recorded 38.6 million cedis from the 39.2 million cedis in 2015. The bank’s losses were also accounted for by the projects to clean the…