Tag: Ghana Business News
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Consumer Rights Day: Telecom users to ditch poor service providers
March 15th of every year is celebrated as World Consumer Rights Day. The occasion is to demand that the rights of all consumers are respected and protected, and to protest against market abuses and social injustices which undermine those rights. As part of this year’s celebrations, Citi Business News has been finding out the level of satisfaction among consumers within…
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Debt Audit Commission will only deepen bureaucracies – Govt
Government has described as a duplication of functions suggestions for the creation of a Debt Audit Commission to regulate the country’s borrowings and reduce its debt burden. Chairman of Parliament’s Finance Committee, Dr. Mark AssibeyYeboah explains that yielding to such requests will rather complicate the current issue as there already are institutions which have oversight…
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Parliament to conclude report on Goldfields by end of March
Chairman of the Mines and Energy Committee of Parliament, Emmanuel Akwasi Gyamfi has told Citi Business News the committee will present its report findings on Goldfields to Parliament before it goes on recess. According to him, the committee has engaged the various stakeholders and is in the process of wrapping up their findings to be…
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Ignore appetite for borrowing after rebasing economy – Osei Assibey
Some economists have impressed on government not to add unto the country’s debt even as it prepares to rebase the economy. Though they explain that the incentive to borrow more may be inevitable, the possibility that it will worsen the repayment burden, must be considered. The Ghana Statistical Service is hoping to complete the process…
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Poverty levels to widen over excessive borrowing – IFS
The Institute for Fiscal Studies (IFS) is predicting of a huge distortion to the provision of major infrastructural projects in the country should government fail to tackle the rising public debt stock. The IFS argues that the rising interest payment on the debt continues to drain financial resources allocated to the construction of critical infrastructure…
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Banking sector faces distortion over ¢2bn bond for UT, Capital banks’ debt
Government’s decision to absorb the liabilities of UT and Capital banks could weaken the financial industry if not managed properly. This is the warning from Economist, Dr. Ebo Turkson. According to him, the assurance of absorption of debts after a possible collapse could make private banks less competitive in giving value for money for customers.…
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adb, uniBank saga: Shareholders chose profits over devt – Toma Imirhe
Financial Analyst, Toma Imirhe has suggested that the decision to increase the profits of adb could have influenced the pledging of shares by some shareholders of the bank to uniBank. According to him, the continuous existence of government’s ownership in adb and the likelihood for the government to influence resource allocation, could have impacted the…
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Analyst backs revocation of Expresso’s license
Telecom Analyst, Fouad Chaalabi has backed moves by the National Communications Authority (NCA) to revoke the license of Expresso. Mr. Chaalabi bemoaned the relatively minimal impact of Expresso as such, he believes the regulator needs to intervene to sanitise the industry. His comments follow a formal notification by the NCA to Expresso, of the Authority’s…
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MODEC appoints 1st female offshore Production Technician Trainee
MODEC Ghana Limited has appointed Portia Ama Anobea Oduro as the first female offshore Production Technician Trainee. Portia is the only female among sixteen (16) other male candidates. Her appointment also comes after four years of brazing the odds to succeed in her chosen career. A native of Kwahu-Nkwatia, Porita had her high school education…
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GH¢400m capital, others triggered uniBank’s interest in adb
Investment Banker, Mahama Iddrisu has cited adb’s quest to meet the new minimum capital requirement of 400 million cedis as a possible reason for the pledge by some shareholders of adb to uniBank. The move Citi Business News also understands is to grow the base of Unibank to undertake huge transactions. Four shareholders of adb…