Tag: Ghana Business News
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Stability agreements must be removed- BoG
The Bank of Ghana(BoG) has made a fresh appeal for Ghana to eliminate stability agreements in the mining sector in order to increase revenue accruing to the country. According to the central bank, the practice where the tax obligations of mining companies are waived for investment purposes, denies the country from some benefits. The Second…
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Criticisms of dollar denominated bond misplaced-BoG
The Bank of Ghana(BoG) has refuted claims that the issuance of dollar denominated bond in the country will drain dollar accounts of banks. Government recently raised a total of 94.62 million dollars in its first local dollar denominated bond at a rate of 6.0 percent. Reacting to the move, the Managing Director of CAL Bank,…
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Tanker Drivers kick against ‘Door-to-Door’ LPG delivery
The Ghana National Petroleum Drivers Union has told Citi Business News it will resist any attempt by the National Petroleum Authority (NPA) to ban domestic gas users from filling their cylinders at the pumps. According to the union, the move by the NPA to ban Ghanaians from filling their Liquefied Petroleum Gas (LPG) cylinders is…
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Apex Bank workers demand ‘head’ of Board Chair
Workers of Apex Bank Ghana have expressed their disappointment at the dwindling fortunes of the bank, directing all workers across the country to display red piece of material around their wrist or hand. According to the workers, “the red has become necessary to let stakeholders understand that the Union workers of the bank are not…
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Jumia Travel awards partners for promoting tourism
Jumia Travel, Africa’s leading online hotel booking website has awarded its partners at a ceremony in Accra for promoting tourism. The awards ceremony, which was held at the Accra City Hotel, served as a form of appreciation for the immense contributions of the partners in the development and success of the company in promoting tourism.…
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Terkper defends reduction of Stabilisation Fund
Finance Minister Seth Terkper has defended government’s decision to cap funds that flow into the stabilization fund on a low level. The Stabilization Fund was establish after Ghana discovered oil to set aside some of the proceeds into the fund to sustain critical public expenditure when oil prices decline. The African Center For Energy Policy,…
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![Midea launches new air conditioners in Abidjan [photos]](https://citibusinessnews.com/wp-content/uploads/2016/11/featured-2.jpeg)
Midea launches new air conditioners in Abidjan [photos]
Midea Electronics has launched its latest series of Air Conditioners in Abidjan, Ivory Coast. The new range of the Air Conditioners which include ‘Everest’, ‘Kid Star’ and Blanc Inverter is specifically designed for the African continent. Speaking Citi Business News after the launch, the Midea Country Manager of Sub-Saharan Area, William Lee stated that…
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Govt to track earth moving equipment to protect the environment
Government will soon roll out a system that will track all earth moving equipment in the mining industry in a bid to monitor their impact on the environment. This is expected to commence after process of classifying activities in the mining sector is completed. President John Mahama who disclosed this explained that the reclassification will…
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European share markets stabilize after U.S election
European share markets continued to stabilize today after Asian stocks rebounded from Wednesday’s sharp sell-off in the immediate aftermath of Donald Trump’s US election victory. Hopes that Mr. Trump will introduce a pro-business agenda to stimulate US economic growth helped to blunt concerns about his surprise win. In London, Paris and Frankfurt, the main stock…
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Govt makes second payment on legacy debt
The President of the Ghana Bankers Association, Alhassan Andani has stated that banks that were owed by government under the legacy debt have received second payment in the first week of September. The Ministry of Finance, the Bank of Ghana (BoG), and the Ghana Bankers Association in August announced a roadmap aimed at clearing the…