Tag: Ghana Business News
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MTN targets GH¢3.47 billion from IPO
MTN is seeking to raise 3.478 billion cedis as it launches its Initial Public Offering (IPO). By this, MTN will cede at least thirty-five percent access to the general public to own a stake in its operations. The move is also aimed at fulfilling regulatory obligation regarding the purchase of one of the 4G spectrum…
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Gov’t officials complicit in illegal trade of petroleum products – Report
Government officials are reportedly complicit in the illegal trade of some petroleum products including premix. A 2017 report on the state of the petroleum sector put together by the Chamber of Bulk Oil Distribution (CBOD) said some government officials were complicit in the illegal trade of petroleum products. According to the report, the government has,…
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MTN launches its IPO today
MTN will today launch its Initial Public Offering (IPO) to allow it raise some amount of money from the public. The company is by this exercise give at least thirty-five percent access to the general public to own a stake in its operations. The move is also to allow the telecom company fulfill a regulatory…
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FPSO shuts down for three weeks
Operators of the FPSO Kwame Nkrumah on the Jubilee oilfields in the Western region, have from today May 28, 2018, shutdown the vessel temporarily. The shutdown, according to the Ghana National Gas Company is to allow for maintenance works on the turret bearing of the vessel. The shutdown is also expected to last for 21…
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MTN launches IPO next Tuesday
MTN will launch its Initial Public Offering (IPO) next week Tuesday, May 29, 2018. The exercise is to allow the public access to own a part of the telecom company. Following the completion of the process, the public will have access to thirty-five percent ownership in MTN. The decision to allow public ownership, forms part…
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Trade Ministry starts tax stamp for textiles on September 1st
Traders of substandard textiles may have to redirect their businesses as the Trade Ministry launches a major clamp down starting September 1st 2018. From September, producers and importers of textiles would have to affix a stamp on their products. This is to avoid seizure by an anti-piracy taskforce put together by the Trade Ministry and the…
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Producer Price Inflation increases to 6.4% in April
Ghana’s Producer Price Inflation (PPI) increased to 6.4 percent in April 2018. The Producer Price Inflation measures the average change over time in the general prices received by domestic producers for the production of goods and/or provision of services. Comparing the April figure to that of March, the PPI went up by 2.7 percent. In…
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Gov’t intervenes; LPG operators call off strike
The LPG Marketers Association has called off its 48-hour strike, following government’s intervention. Members of the Association had embarked on a strike to protest government’s planned implementation of the cylinder re-circulation policy which they say will collapse their business. The Association’s strike caused a lot of discomfort to many consumers across the country, as they…
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Oil emerges as second largest export earner – BoG report
Ghana’s oil sector emerged as the second largest contributor to the country’s exports for 2017. The country raised an estimated three billion dollars from the oil resources in 2017. Official figures released by the Bank of Ghana show that the total revenue Ghana raked in from her exports stood at 13.8 billion dollars. A further…
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Fibre cuts major cause of poor telecom services
Fibre optic cables have aided the connection of platforms for improved service delivery by telecom operators. However the challenge of dealing with their regular destruction, has left most telecom operators desperate. The phenomenon not only drains resources but creates a gloomy picture for improved services. Citi Business News has been engaging industry players and they…