Tag: Ghana Business News
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Fuel prices to remain unchanged till year end
Fuel prices are expected to remain stable at the pumps for the second pricing window of December. This means that fuel prices will remain unchanged till the end of the year. The Institute of Energy Security (IES) who predicted this attributed the development to a relatively insignificant change in oil prices at the global market.…
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Non-traditional exports to increase with new export platform
The Ghana Export Promotion Authority (GEPA) is seeking to boost the export of non-traditional products within the short to medium term. As part of achieving this aim, the GEPA has introduced a new marketing platform for exporters of such traditional products. The new market hub is also expected to expose exporters to modern developments and…
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Govt cuts back expenditure on health, roads
Government is yet to disburse some GH¢305.27 million outstanding allocation to the Annual Budget Funding Amount for the first half of 2017. According to the Public Interest and Accountability Committee (PIAC), even though the ABFA received some GH¢358.41 million for the first half of the year, the government spent just GH¢53,136,951 or 15 percent of…
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Environment Ministry to ban mercury use in mining
The Minister for Environment, Science, Technology and Innovation, Professor Frimpong Boateng has revealed government’s intentions to drastically reduce the use of mercury in mining activities in the country as it poses serious health hazards. As a result, Ghana has signed an agreement with the MINAMATA Convention. The Convention seeks to ban the use of mercury…
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GPHA engages importers over new tariffs
The Ghana Ports and Harbors Authority (GPHA) on Friday 15th December 2017, met with the Importers and Exporters Association of Ghana over plans to review port tariffs on imports from next year. The meeting which was at the request of the GPHA, follows the announcement of the decision to Ship Owners and Agents Association as…
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BoG targets lower interests with GH¢400m capital
Governor of the Bank of Ghana, Dr. Ernest Addison has assured that the increased minimum capital requirement will result in reducing the lending rates by banks. Dr. Addison argues that the requirements will create stronger banks which will lead to bigger banks and lower unit cost. “Lending rates are still high but the explanations are…
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Cedi stabilises amidst festive season blues
Checks by Citi Business News have shown that the cedi has experienced relative stability against some major trading currencies for the past two weeks. The cedi which normally depreciates at a fast rate around the festive season has since the 23rd of November remained at 4 cedis 41 pesewas on the interbank foreign exchange market…
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![Left to die: Local shoe industry struggles for attention [Audio]](https://citibusinessnews.com/wp-content/uploads/2017/12/shoe-factory-1-1.jpg)
Left to die: Local shoe industry struggles for attention [Audio]
Ghana’s footwear industry has seen a dip over the past three decades and this has been blamed on the lack of political will by successive governments to sustain the industry. Coupled with this is the high cost of operation for businesses who have attempted to revive the industry. In the 7th of Citi Business News’…
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Sacked Goldfields workers to be reemployed
Mining firm Goldfields Ghana, has told Citi Business News majority of the workers at Tarkwa mine, that will be laid off this month – December, 2017 will be reemployed by the contractor that will take over the operations of the mine. The mining firm confirmed this morning, 12th December, 2017 to Citi Business News that…
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Goldfields to lay off 1,500 workers
Mining firm Goldfields Ghana is to lay off about 1,500 of its workers. The retrenchment is expected to affect majority of its miners at the Tarkwa mine. Citi Business News has gathered the layoffs will take effect this month December, 2017. Goldfields has told Citi Business News it had to undertake the layoffs due to…