Tag: Ghana Business News
-
First Atlantic Bank opens Tamale branch
First Atlantic Bank has opened its 31st branch in Tamale , in the Northern Region. The newly opened branch, according to senior officials of the bank would provide bespoke financial products and services to the businesses and individuals in the metropolis and its environs. The branch would also serve the bank’s customers and people in the…
-
New national airline in the offing
Government has intensified processes towards launching a new national airline soon. According to aviation industry officials, processes have advanced in establishing the necessary policy framework to guide the smooth implementation of the plan. Citi Business News also understands that there have been negotiations with some leading airline companies on best practices to get the national…
-
Lending rates to drop further – BoG
The Bank of Ghana (BoG) has assured the business community of its commitment to reduce its lending rates for commercial banks in the country. This is also expected to prompt a further drop in the lending rates of commercial banks to their customers. The Central bank is hopeful that the move will also reduce the…
-
Customs dismisses fresh agitations against paperless ports
The Customs Division of the Ghana Revenue Authority (GRA) has rejected claims by some business operators at the ports over the resumption of the manual clearing system. It argues that it has addressed the outstanding issues with the paperless clearing system hence the claims by the businesses cannot hold. Some clearing agents and freight forwarders…
-
Jubilee field to shut down twice in 2018
Energy Minister, Boakye Agyarko has announced that the FPSO Kwame Nkrumah will shut down twice in 2018 to allow for some repair works on the vessel. The temporary shutdown is scheduled for January and March 2018. The repair works will be carried out on the turret bearing of the oil and gas production vessel. The…
-
Importers, clearing agents lament existing delays at ports
Businesses operating at the Tema Port have expressed reservations over what they say is the resumption of manual clearing system at the ports. The concerns by the businesses come barely three months into the operations of the paperless clearing systems. Citi News’ Tema correspondent, Elvis Washington reports that many of the clearing agents and freight…
-
Ghana to save $ 7.2bn from 11 terminated power deals
Ghana is expected to save $7.217 billion from the termination of 11 Power Purchase Agreements (PPA) over a 13 year period, the Energy Minister, Boakye Agyarko has said. These terminations, following a recent review, will come at cost of $402.39 million, Mr. Agyarko told Parliament on Friday. As indicated by the government earlier in 2017, it was reviewing…
-
Electronic PoS tax systems kick off in July 2018
The Ministry of Finance has set July 2018 as the implementation date for the electronic Point of Sale systems to track tax revenue. At least this is the information available to Citi Business News. Citi Business News also understands that the rolling out of the program is however subject to the completion of the necessary…
-
Interest rates on deposits remain at 10.4 %
The average interest rate among commercial banks remained unchanged at 10.4 percent in October 2017. According to the Bank of Ghana’s Annual Percentage Rate (APR) and Average Interest (AI) report, Bank of Africa and Bank of Baroda offer the highest interest rates on customer deposits at 16.1 percent. At the second position is Omni Bank…
-
Telecom boom redefines African media
Media organisations in Africa are devising strategies to capitalize on the increasing use of technology to improve their service delivery. The move is set to include the adoption of new mechanisms to deliver stories particularly business reporting to guide policy decisions. The issue has been at the forefront of deliberations at the 2017 Bloomberg Africa…