Tag: Ghana Business News
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ENI secures oil fields with Italian vessel
One of the major oil producing fields, ENI, has undertaken processes to fortify its operations in the oil and gas sector. It follows the arrival of Italian ship;Luigi de la Penn in Ghana on Thursday, August 30th 2018. The presence of the ship here in Ghana will not only see increased trade relations between Ghana…
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GRA yields to pressure; backs down on CTN
The Ghana Revenue Authority (GRA) has clarified that it will soon meet with the business associations to have further consultation and sensitize them on the implementation of the Cargo Tracking Note (CTN) system. According to the Customs division of the GRA, the engagement is necessary to clear all doubts harboured by the business associations over the CTN policy.…
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ESLA bond raises GH¢5.66 billion
Managers of ESLA PLC has announced that they have been able to raise about 265 million cedis as part of the energy bond to save the energy sector. This was carried out under the ten year auction bid of the bond; which spans from 2017 to 2027. According to the managers of ESLA PLC, the…
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Economist blames poor data for high redundancy over bank collapse
Economist Prof. William Baah Boateng has attributed the many challenges and developments in the banking industry to what he describes as the lack of reliable data to monitor activities in that sector. The lack of reliable data in his view, is a major hindrance in arriving at proper decisions to address the impact of the…
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Fuel prices to remain stable in September
Prices of fuel are expected to remain relatively stable for the first pricing window in September. This means that for the first two weeks of September, consumers should be paying almost the same amount for fuel they purchase. The Institute of Energy Security (IES) who predicted this tells Citi Business News the stability could be attributed to…
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MTN raises GH¢ 1.146 bn from IPO
MTN has raised a total of 1.146 billion cedis from its Initial Public Offering (IPO). The amount realized from the IPO shows that MTN fell short of its target of 3.47 billion cedis by about 2.3 billion cedis. The telecom company however says the performance is highly commendable considering the volume of the offer. The…
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adb gets new Board of Directors
A new Board of Directors has been inaugurated for adb. The number of directors had dropped following the annulment of four institutional shareholders in the bank by the Bank of Ghana, last month. The four companies are; Starmount Company Limited, EDC investment, SIC Financial Services as well as Belstar Company limited. According to the central…
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MTN investors anxious over undisclosed IPO results
Investors who purchased MTN shares are anxious over the seeming delay in announcing the results for the Initial Public Offering. The telecom company concluded its IPO in July 2018 and it is expected to list the proceeds on the Ghana Stock Exchange by September 2018. MTN seeks to raise 3.47 billion cedis from the investing…
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CTN row: Shippers bemoan drop in revenue
Shipping lines are cautioning of massive drop in government’s revenue for the rest of the year if the row over the implementation of the Cargo Tracking Notes (CTN) is not resolved. The shippers complain of drop in cargo which is affecting their operations. The tussle over the implementation of the Cargo Tracking Notes (CTN) has…
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Maritime imports exceed exports in 2018 first half
Ghana’s maritime imports continue to be dominated by commodities like cars, meat, second hand clothing, among others. Figures from the Ghana Shippers Authority show that the total volume of maritime imports for the first six months of this year, reached 7.15 million metric tonnes. This is up compared to the 6.75 million metric tonnes recorded…