Tag: Ghana Business News
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Takoradi port gets $ 428m injection for expansion
As part of efforts to increase the port efficiency in Takoradi, Ghanaian private investment company, Ibis Tek has begun moves to expand the port. Figures available show that as at 2015, the port had a capacity of sixty-three thousand (63,000) Total Enclosed Units (TEUs) per annum. This is expected to increase to between eight hundred…
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Tropical Cable wins top AGI award
Locally owned Tropical Cables and Conductors limited has been adjudged as the overall best industrial company for 2016. The company picked the ultimate award after beating off competition from over thirty other industries. In addition, Tropical Cable and conductors picked the award for the best company in electricals and electronics. Pharmaceutical company, Dannex picked two…
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2018 budget to set motion for tariff review
Businesses should expect to see an adjustment in their cost of electricity at least beginning in 2018. It follows government’s plans to review the current tariff system for industries. President Akufo Addo who disclosed this says the Finance Minister, Ken Ofori Atta would announce details of this when he presents the 2018 budget to Parliament…
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Tullow MD urges swift end to VRA thermal asset sale
Energy sector players want government to expedite processes in the decoupling of thermal assets management from the Volta River Authority (VRA). They argue that a further delay of the process will hamper efforts to reform the energy sector for efficiency. Deliberations are underway with relevant stakeholders over plans to limit VRA’s mandate to the management…
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#SoFI: Jumo wins $ 150,000 Mastercard Foundation prize
Mobile financial services platform, Jumo has been awarded by the Mastercard Foundation as the most client-centric financial services company. As a result, the company gets US$150,000 to support its operations. The prize was presented on Wednesday, November 8, 2017. It also marks the third of Mastercard Foundation’s annual Clients at the Centre Prize. According to…
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Ethiopian Airlines welcomes Boeing aircraft to Ghana
Ethiopian Airlines on Friday, November 10, 2017, welcomed its newest plane, Boeing 787-9 to Accra. The aircraft has been tagged the ‘Big Brother’ to Accra by the airline company. According to Ethiopian Airline, the coming on board of the B787-9 is part of its commitment to deliver an exceptional level of service to the African…
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Finance Ministry dismisses Minority’s claims on energy bond
The Ministry of Finance has reacted to what it describes as unsubstantiated claims by the Minority in Parliament over the energy bond. According to the Ministry, the arguments put forward by the side do not reflect the actual situation. The Minority on Wednesday held a press conference where it criticized the below 6 billion cedis…
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Airtel, Tigo merger to solidify telecom industry
The new entity to be formed following the merger of Tigo and Airtel should improve service delivery in Ghana’s telecommunications industry. The move should also build larger institutions to deepen competition and give value for money. This is the assertion of the Marketing Director at Airtel, Rosy Fynn. Madam Fynn also believes the coming in…
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GREDA demands names of substandard cable brands
Real estate industry players have joined calls for the Ghana Standards Authority (GSA) to publish names of substandard electrical cable brands on the Ghanaian market. The industry fears for the worse should developers continue to use unapproved cables which will ultimately put the lives of people at risk. A recent inspection by the GSA has…
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Inflation drops again to 11.6%
The Consumer Price Inflation (CPI) has dropped again to 11.6 percent in October 2017. The figure went down by 0.9 percent from the 12.2 percent recorded in September 2017. This is the seventh time that inflation has dropped this year with some marginal increases between the ten month period [January to October 2017]. The CPI…