Tag: Ghana Business News
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KIA’s Terminal 3 to boost customs revenue
Customs revenue from the Kotoka International Airport (KIA) is bound to see a major boost as the Terminal three begins operations. Officials of the GRA are hopeful that the potential increase in fleet should translate into increased revenue for the Authority. The Terminal three will accommodate all international flights to and from Ghana. The facility…
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MTN launches 8th edition of i-Fest
MTN Ghana, the leading telecommunications service provider in Voice and Data and Mobile Money services is celebrating its annual Internet Festival dubbed i-Fest. The month-long festival which is in its eighth year, is to create awareness about the internet and the immense benefits of a brighter connected world. This year’s MTN i-Fest is being celebrated…
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Banks collapse: Financial stability strategy rolls out in 2019
The Ministry of Finance is hopeful of finalizing processes for the implementation of the Financial Inclusion Strategy by the end of 2018 ahead of full take off in 2019. The strategy will address issues of soundness and stability in the financial market. It will also be involved with the deployment of financial infrastructure, strengthen financial…
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Fuel prices to hit 5 cedis per litre
Prices of fuel are expected to increase to about 5 cedis per litre for the second pricing window in September [September 16th to 30th]. This is largely due to the depreciation of the cedi. The Institute of Energy Security (IES) who revealed this also adds that other major factors such as the increase in Brent…
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Over 600,000 litres of BOST’s contaminated fuel ‘evaporates’
The Bulk Oil Storage and Transportation (BOST) is in the news again, this time over the disappearance of about 600,000 litres of its contaminated fuel. A five-member committee set up by the current Managing Director of BOST, George Mensah Oakley to take stock of five million litres of the off-spec product noticed the disappearance. The…
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SEC orders closure of unlicensed investment companies
The Securities and Exchange Commission (SEC) has issued a strong warning asking all unlicensed financial investment schemes to close down their operations or risk facing the law. The Commission is cautioning that the activities of such entities pose a threat to the financial sector which need to be stopped. The SEC says the unlicensed institutions…
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Stop Chinese takeover with skilled labour – Dr. Gyimah
A Ghana-China expert, Dr. Glenn Gyimah believes the Government of Ghana can use the provision of skilled labour to benefit from its relationship with China. He noted the shortage and neglect of skilled labour has not only created room for the Chinese to take local jobs but also slowed the growth of Ghana’s manufacturing sector. “If we…
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Consolidated bank assesses skills of staff
Current employees of the Consolidated Bank Ghana Limited are to undergo assessment tests scheduled for September 15th and 16th, 2018. This follows the completion of application processes for all the workers of the bank. A memo to all staff and sighted by Citi Business News also stated that the tests will be carried out in…
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GRA misses targets, contracts McKinsey to block loopholes
The Ghana Revenue Authority missed its revenue target for the first eight months of the year. The Authority fell short of its target by 1.8 billion cedis. As a result, it has engaged the services of consultancy firm, McKinsey, to help it block revenue leakages that persist in its revenue collection. The Commissioner General of…
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Labour unions, KPMG determine exit pay for Consolidated bank staff
The Ministry of Employment and Labour relations together with the Bank of Ghana, the receiver for the Consolidated bank as well as representatives of labour unions have met over the issues affecting the staff of the Consolidated bank. This is also to reduce any apprehension among the remaining staff. Present at the meeting were officials…