Tag: Ghana Business News
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Energy bond: Ghana Gas upbeat about repayment
Institutions to benefit from proceeds of the energy bond are upbeat about the allocations to hit their accounts soon. One of such is the Ghana Gas Company which is owed by the VRA alone, to the tune of over 500 million dollars. The debt which is believed to have accumulated over a three year period…
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![Left to die: Ghana’s salt companies folding up [Audio]](https://citibusinessnews.com/wp-content/uploads/2017/11/salt-1-1.jpg)
Left to die: Ghana’s salt companies folding up [Audio]
Ghana’s salt industry has huge potential; unfortunately challenges such as importation of the product from countries such as South Africa and climate change are fast crippling the industry. Salt production in Ghana was at its peak in 2007. But today the story is different as most local salt companies are about collapsing, and in some…
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Agric ministry moves in to revive Ghana’s onion industry
The Agric Ministry says it is working towards wiping out the importation of onions into the country. This follows a report by Citi Business News which highlighted the dwindling state of Ghana’s onion industry due to high imports from neighboring countries. According to the report, the industry was a bustling one ten years ago. But…
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Energy bond unsuccessful after two tries
ESLA Plc failed to meet the target for the first tranche of the bond after a second attempt. The managers of the bond were seeking to raise 6 billion cedis under two separate bonds. But accrued a total of 4.69 billion cedis after it closed the auction last Friday. The 7-year bond received the targeted…
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Left to die: Ghana’s Onion Industry close to extinction
Ghana’s onion industry will soon be completely wiped out if challenges hampering its growth are not dealt with. Ten years ago, the industry was a bustling one. But today, Ghana is forced to import onions from a number of African countries to feed homes and eateries across the country. In the first of Citi Business…
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![Is the ESLA considered as a bailout for Banks in Ghana? [Article]](https://citibusinessnews.com/wp-content/uploads/2017/10/bond-1.jpg)
Is the ESLA considered as a bailout for Banks in Ghana? [Article]
Preamble: As noted in my recent article titled “Poor credit practices leading to high NPLs in Ghana”, I concluded that the primary cause of default for energy related SOE and BDCs debts is due to the banks irresponsible credit decision. In this article, I will like to expand on the above referenced article and demonstrate…
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Govt to issue second domestic dollar bond next week
Government is planning to issue a three-year domestic dollar bond on Tuesday [November 7, 2017] to develop local funding sources to support the economy. According to lead managers of the bond, it is open only to Ghanaians. This is the second after a debut issue in October 2016 where the government then issued a two-year…
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Judiciary digitizes to erode corruption
The Chief Justice, Her Ladyship Sophia Akuffo has stated that the judiciary is digitizing its systems at the courts to fast-track the adjudication of cases brought before it by businesses. According to her, the development is to reduce paper and face to face transactions which usually lead to corruption. “These inefficiencies form a breeding ground…
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Marketers push for increased expenditure on agric
Players in the marketing industry want government to increase its budgetary allocation for the agric sector in 2018. The players argue that proper allocation of funds to boost the agric sector will ultimately result in a massive improvement in the economy. Finance Minister, Ken Ofori Atta will later this month (November) present the 2018 budget…
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Investors to defy Ghana’s drop in doing business ranking
An investment analyst, Mahama Iddrisu has told Citi Business News investments into Ghana would be least affected despite the country’s drop in the ease of doing business ranking. The 2018 ease of doing business report by the World Bank has ranked Ghana 120th out of 190 economies surveyed. According to the report, Ghana dropped twelve…