Tag: Ghana Business News
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Gov’t woos renewable energy IPPs with attractive waivers
Government has rolled out waivers for Independent Power Producers (IPPs) of renewable energy at a time that it has suspended the issuing of licenses to IPPs in the thermal space over concerns of excess power generation. This also follows government’s plan to increase the country’s renewable energy capacity to ten percent by 2020. Deputy Energy…
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Aggrieved ‘ghost workers’ beat time to claim April salaries
The National Association of Graduate Teachers (NAGRAT) is optimistic of meeting the deadline for the SSNIT biometric registration for some of its affected members expected to end today 3rd May, 2017. The teachers form part of the over 26,000 workers who were likely to miss their April salaries over failure to complete their SSNIT biometric…
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More OMCs threaten layoffs over illegal trade
More workers are set to be laid off in the petroleum downstream sector as the illegal sale of petroleum products continue unabated. Already, the CEO of the Association of Oil Marketing Companies, Kwaku Agyeman-Duah has warned of some 4000 job losses in the next few months due to the development. The Association contends that profits…
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Non-bank financial institutions appeal for cheaper funds
The current high lending rate offered to non-bank financial institutions by the Central Bank is rendering them uncompetitive and unproductive. This is according to the Chief Executive Officer of the Women’s World Banking Ghana, Madam Charlotte Lilly Baidoo. She contends that the high rates offered by the BOG compels them to equally lend at higher…
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PUWU livid over sideline in negotiations on ECG
The Public Utility Workers’ Union (PUWU) has expressed disappointment at government for failing to discuss with them details concerning the Millennium Challenge Corporation (MMC) Power Compact II before taking a final decision. According to PUWU, consultations would have clarified issues and updated concerned workers. Speaking on the Citi Breakfast Show on Tuesday, the General Secretary…
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OMCs to sack 4000 workers over illegal trade
About 4,000 workers in the petroleum sector are likely to lose their jobs within the next few months if government fails to stop the illegal sale of petroleum products in the country. This is the caution from the Association of Oil Marketing Companies (AOMCs). The Association explains that the illegal trade which has been perpetrated…
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Banks to merge over projected GH¢260m capital review – Zenith Bank MD
The Bank of Ghana’s decision to peg the new minimum capital requirement for commercial banks at an estimated 260 million cedis should culminate in mergers and deepen the financial sector. This is the position of the Managing Director of Zenith Bank, Henry Oroh. He explains to Citi Business News banks should also be able to…
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Ghana to partner Germany for SME growth
The Ministry of Business Development has renewed its commitment to partner with German businesses to enhance growth in Ghana’s SME sector. The ministry says it will set up a startup team to tap into the knowledge base of the German businesses to enhance the performance of startups in Ghana. Business development Minister Ibrahim Mohammed Awal…
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Job creation high on agenda for ICU on May Day celebration
The Industrial and Commercial Workers Union (ICU), has made fresh appeals for government to address the high levels of unemployment in the country. The union has also said it is dissatisfied with labour developments in the first quarter of 2017 as businesses still suffer from high cost of operations as well as high utility bills.…
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38 business leaders honored, Nii Kotei Dzani picks top award
The Founder and President of Groupe Ideal, Nii Kotei Dzani has been named as the Best Entrepreneur for 2016. It follows his contribution to Ghana’s economy through his business venture comprising thirteen subsidiaries. Mr. Kotei Dzani was among thirty eight business managers honored at this year’s edition of the Ghana Entrepreneur and Corporate Executive Awards.…