Tag: Ghana Business News
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Maritime Authority to roll out e-navigation system
The Ghana Maritime Authority (GMA) should by the end of June 2018, start implementing the e-navigation systems to track the security of vessels on Ghana’s waters. It will also follow the completion of the necessary tests and the webpage for operating the platform. When successful, Ghana will become the fourth maritime country to introduce these…
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Private participation to drive down cost of power
President Akuffo Addo has renewed plans by his government to attract private sector investments into the country’s power sector to improve operations there. The President maintains that allowing private participation should provide the needed capital and eventually reduce the cost of power. Already, there are plans to sell off the thermal assets of the VRA…
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Gov’t engages investor for Takoradi-Kumasi railway line
President Akufo Addo has announced new plans to revamp the country’s railway sector starting the next few months. According to the President, the move will involve the construction of new railway lines and the extension of some existing lines to facilitate movement of passengers and goods. Mr. Akufo Addo made the disclosure when he presented the…
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Accurate employment figures key for planning
As President Akufo-Addo prepares to present the State of the Nation address today [February 8], one major issue that is expected to be addressed is the number of jobs created since the inception of his administration. Already, the President had admitted at a media encounter to the unavailability of up to date employment figures. Recently, the…
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ExxonMobil deal yet to reach Parliament for approval
Citi Business News is learning that government is yet to submit the ExxonMobil deal to Parliament for ratification, three weeks after the resumption of the House. This is however expected to be carried out before the operators could commence exploration activities at the oilfields. The submission of the agreement to Parliament is in fulfillment of…
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Scrap special petroleum tax – Wereko-Brobby urges govt
A former CEO of the VRA, Dr. Charles Wereko Brobby has impressed on government to scrap the special petroleum tax in order to relieve consumers of the burden of escalating petroleum prices. He maintains that consumers will continue to bear the brunt despite attempts to review the mode of calculating the tax. Dr. Wereko Brobby’s…
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Mobile money value hits 156 billion cedis
The total value of mobile money transactions in Ghana hit 155.8 billion cedis in 2017. This is almost double the 78.5 billion cedis recorded in the preceding year (2016). This translates into about 99 percent rise in the value of transactions for the period. According to the Bank of Ghana, the volume of mobile money…
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GCB Bank retains 22 branches of UT, Capital banks
GCB Bank has announced that it has maintained 22 branches of defunct UT and Capital banks. This follows the completion of the full integration of the systems of the two banks. The twenty two branches were part of a total of fifty-three branches assumed by GCB Bank in August 2017. A statement on the move…
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GCB Bank absorbs 70% of UT, Capital banks’ staff
GCB Bank has absorbed about seventy (70) percent of the permanent staff of defunct UT and Capital Banks. It follows the completion of the full integration of the systems of the two banks. A statement on the issue and copied to Citi Business News said, “As a result of the integration, staff numbers have been…
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Investors to ditch Ghana over calls to remove Minister
An Investment Banker, Mahama Iddrisu has told Citi Business News calls for the resignation of Finance Minister, Ken Ofori-Atta might cause investors to boycott investment decisions to Ghana going forward. He argued that the move is also likely to affect subscription of the country’s bonds expected to be issued in the first quarter of this year…