Tag: Ghana Business News
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Meralco must turnaround ECG – KITE
The Kumasi Institute of Technology and Environment (KITE), is anticipating positive growth in the power sector with the coming on board of a new consortium under the power compact two agreement. It follows the selection of Meralco Consortium by the Millennium Development Authority (MiDA) to manage the Electricity Company of Ghana [ECG]. According to the…
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Illegal couriers to persist over vacancy at Regulatory Commission
Attempts by the Postal and Courier Services Regulatory Commission to clamp down on illegal courier service providers have been temporarily halted as the Commission has been left without an Executive Secretary for about three months now. Citi Business News understands that the former Executive Secretary, Mr. Isaac Annan Riverson who has been at that position…
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KITE demands prioritised spending of oil revenue
The Executive Director of Kumasi Institute of Technology and Environment (KITE), Ishmael Edjekumhene has warned, revenue generated from the country’s petroleum sector will have little impact on economic development if government is unable to prioritize key areas to invest such revenue. According to him, research conducted has shown that governments, over the years, have failed…
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Asamoah Gyan signs new business deal
Development Capital Partners Limited (DCP) and Gyan Investments are pleased to announce that they have today signed an advisory mandate for DCP to advise Gyan Investments on the development of its investment portfolio including Baby Jet Airlines. Andrew Naylor, CEO of DCP, said, “Asamoah Gyan is a high profile personality both in Ghana and internationally…
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Two new airlines to join domestic flight business
Two more airline companies are tipped to join Ghana’s aviation industry soon. This is according to the Ghana Civil Aviation Authority (GCAA). The Director General of the Authority, Simon Allotey explains that the coming on board of the two should drive competition and impact on the cost of domestic airfares. As Citi Business News explores…
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Zenith Bank hits GH¢400m capital requirement
Zenith Bank has attributed its strong capital base to what it refers to as the implementation of effective corporate governance strategies. The bank says, such plans have also made it easy to reduce the levels of non-performing loans and its impact on the books of the banks. Commercial banks have till December this year (2018)…
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HFC bank changes name to Republic bank
HFC Bank has received license to change its name to Republic bank. Information available to Citi Business News however indicates that this is expected to take effect next Tuesday, April 24, 2018. The change of name is as a result of Republic bank owning majority stake in HFC Bank’s operations. A statement from the Ghana…
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Tullow to spend $780m on new wells on TEN oilfields
Tullow has disclosed to Citi Business News that it will cost the company about seven hundred and eighty million dollars ($780,000,000) to construct the remaining wells on its TEN oilfields. Tullow has so far completed one of the thirteen wells to be drilled on the oilfields in the western region. The Maritime border dispute between…
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Big shots at MTN bow out
At least three executive positions at MTN Ghana have been left vacant following the exit of two executives and the promotion of one. The positions that are vacant are that of the Chief Executive Officer, Corporate Services Executive as well as the Chief Marketing Officer. The positions were previously occupied by Mr. Ebenezer Asante, Madam…
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Delayed gov’t disbursement threatens infrastructure growth – Report
A latest report on Africa’s construction sector has cited delays in disbursements on the part of governments as a key threat to the expansion of infrastructure within the region. The survey, conducted by Deloitte therefore suggests that governments must tackle such delays as they control majority of projects. Meanwhile, Ghana has been tipped as having…