Tag: Ghana Business News
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EOCO probes AGT Microfinance Company
The Economic and Organised Crime Office (EOCO) has taken over a case involving AGT Microfinance over the company’s inability to pay customers whose investments are due. Citi Business News understands the management has since been compelled to make some commitments in settling the affected customers. Citi Business News’ checks at the central bank show that…
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MTN secures ¢GH510 million credit facility
MTN Ghana has secured a credit facility through a syndication worth GHC 510 million from 9 banks in Ghana to improve its infrastructure and services. This is the second time the telecom operator is undertaking such a deal. In 2012, MTN carried out a similar loan syndication deal to finance network expansion. That facility was repaid…
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![Left to die: Jewellery industry fades away [Audio]](https://citibusinessnews.com/wp-content/uploads/2017/12/jewelry-1-1.jpeg)
Left to die: Jewellery industry fades away [Audio]
The sixth edition of Citi Business News’ series, “Left to die,” focuses on Ghana’s Jewellery industry. The report reveals that although Ghana has abundance of precious minerals that can be used as raw material to manufacture jewellery, local companies are collapsing one after the other. Citi Business News’ Anita Arthur reports that among the numerous factors…
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Solving housing gap: Lands Commission tackles complex registration
The Lands Commission is set to reduce the incidences of landguards’ attacks in the acquisition of land with its new land documentation system. The Ghana Enterprise Lands Information System (GELIS) aims at fast tracking the acquisition of land titles by using electronic platforms. The move is also geared at reducing the turnaround time for land…
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GIPC targets increased investments with new online platform
Investors seeking to do business in Ghana should be saved the hassle in registering their operations with the Ghana Investment Promotion Centre (GIPC), effective next year. It will follow the creation of a one stop online platform to cater for such processes. The Principal Investment Promotion Officer at the GIPC, Frances Menyikoba Kyiamah disclosed the…
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ACEP demands cancellation of non performing Petroleum Agreements
The African Centre for Energy Policy (ACEP) wants the Ghana National Petroleum Commission (GNPC) to review all petroleum agreements which have breached the minimum work obligation in the petroleum laws. Of the 14 petroleum agreements, 5 had been affected by the ITLOS ruling hence their inability to conduct the expected activities on the allocated block.…
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Sanction Menzgold if found culpable – Nana Otuo
The Bank of Ghana must invoke its power to sanction Menzgold if it views its activities as flouting provisions of the Banks and Specialized Deposit-Taking Institutions Act (Act 930). According to Banking Consultant, Nana Otuo Acheampong, failure to punish the company over possible grounds of breaching the law may result in a repetition of the…
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GHL Bank eyes top 5 banks’ slot by 2020
GHL Bank has stressed that its strategy will dwell on providing competitive banking services to meet clients’ needs. The former mortgage company is seeking to assume a slot among the top 5 banks within the next five years. GHL bank becomes the 35th bank in Ghana. The Board Chairman for GHL Bank, Albert Essien gave…
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Workers strike over wrongful dismissals at OCTP- TEN oilfields
Ghanaian workers operating on the ENI Onshore Receiving Facility (OCTP- TEN) project at Sanzule in the Ellembelle constituency in the Western region, have suspended operations over unlawful dismissals. Citi Business News understands the workers have embarked on a sit down strike as a result of the development. The Ghanaian workers, numbering about five hundred say…
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Dismissed Starbow workers to get compensation if … – Austin Gammey
Sacked workers of Starbow may lay claim to some compensation if the grounds for their contract termination are completely determined. This is the indication from labour analyst, Austin Gammey. The workers have been dismissed since last Thursday, November 30, 2017. The development comes weeks after the company’s aircrafts had an accident at the Kotoka International…