Tag: Ghana Business News
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Top management staff still at post at Unibank
All top executives but the CEO of Unibank, are still at post at the bank despite the presence of new managers from auditing firm, KPMG. Dr. Kwabena Duffour Junior has been made to step aside as the new managers say his continuous existence creates a duplication of roles with the Head of the new management team.…
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KPMG denies dismissals at Unibank
Managers of Unibank, KPMG, have dismissed media reports that they have terminated the appointment of some contract workers of the bank following an assessment of the bank’s operations. About five hundred workers of the bank are reported to have their employment contracts terminated as their roles were no longer needed. The report suggested that the…
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GRA to set up int’l commodity prices monitoring desk
The Ghana Revenue Authority (GRA), has said that it is setting up a desk at its headquarters which is going to be dedicated to monitoring the prices of commodities on the world market. The desk, according to the GRA, will help it reconcile prices of gold and other commodities to that are reported by local…
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Fuel prices go up by 2% in May – IES
The Institute of Energy Security (IES) has predicted an increase in fuel prices for the first two weeks of May. The Institute tells Citi Business News prices will go up by about 2 percent barring an intervention from the National Petroleum Authority (NPA). “In the first pricing window for May 2018, we are expecting fuel prices to go…
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Hardware importers lament high import charges
Hardware Dealers are impressing upon government to reduce taxes charged on imported products at the ports. Currently, the businesses pay about 25 percent on goods imported into the country. But they say the charge is high which is impacting their businesses. Speaking to Citi News, Regional Sales Director West and Central Africa at Bosch, Benjamin Ofori, called…
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Lending rates to remain high despite drop in reference rate
Lending rates of commercial banks may not be declining anytime soon despite the change in the formula of calculating the lending rates of banks. That is the position of Economist, Professor Godfred Bokpin. His comments come despite a marginal reduction in the Bank of Ghana’s new reference rate for May. Meanwhile business associations have lauded…
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BoG reduces Ghana reference rate to 16.74% in May
The Bank of Ghana’s new Ghana Reference Rate for May 2018 is 16.74 percent. The rate is the reference by which commercial banks will set their interests on loans granted to customers at least for this month. The figure is lower compared to that quoted for April which stood at 16.82 percent. Introduced in April…
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Lands Commission to complete digital migration by June 2019
The Lands Commission has disclosed to Citi Business News that it should complete the digital migration of all land documents by June 2019. This will mean that accessing any information from the commission could be done remotely from any part of the country. The development is also aimed at reducing the time needed to obtain…
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MTN’s self service kiosks not a threat to banks – Analysts
MTN’s new self service kiosks will least threaten other similar services provided by commercial banks. As a result, the development should not result in any apprehension among the banking industry. That is the position of Financial Analyst, Sam Bediako Asante. The telecom giant’s new service is to deepen its mobile money business and drive competition.…
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MTN introduces self service kiosks for mobile money
Customers of MTN’s mobile money services should in the coming months be able to carry out their transactions at the new self service kiosks to be introduced by the company. The new model means that customers will not necessarily have to visit designated vending points to transact money transfer business. It is however unclear how…