Tag: Ghana Business
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Merge TOR, BOST for efficiency – Dr. Manteaw to NPP
Some industry watchers have made a strong case for the new government to merge the management of the Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company (BOST) if it is to be efficient in the petroleum downstream sector. In their view, the merger will among others cut down cost and facilitate…
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SSNIT defends 18% increase in pension benefits
The Social Security National Insurance Trust (SSNIT) has justified its 18% increase in pension benefits. This is despite complaints of pensioners who had hoped for a higher percentage increase of their pensions. The increment is however 2% lower than the 20% increase announced in 2016. The Corporate Affairs Manager of SSNIT, Eva Amegashie who explained…
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Cocoa has seen improvement with our government – Terkper
Outgoing Finance Minister Seth Tekper has debunked claims by cocoa dealers about the dwindling profits on cocoa proceeds. According to him, the cocoa sector is still profitable and will not deteriorate. Cocoa yields for the 2016 crop season fell short of one million tons causing cocoa dealers to express severe reservations. But speaking on the…
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TOR faces threats from Dangote’s refinery if … – MD
The outgoing Managing Director of the Tema Oil Refinery (TOR),Kwame Awuah Darko, has urged his successor to pursue expansion drive and increase the competitiveness of the refinery. He argues TOR could lose its economic potential if plans are not implemented to strengthen the current benefits accruing to the company. Mr. Awuah-Darko’s suggestions follow plans by…
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Hello Kigali to expose businesses to Rwanda’s technological success
The country Manager for RwandAir in Ghana, Shukrani Edy Hemedy has assured participants of Citi Fm’s Hello Kigali tour to brace themselves to among other things experience the major technological developments achieved in Rwanda. According to him, technology is one key area that has helped in instigating the success story of Rwanda. “We have indeed…
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Fuel prices increase by about 11%
Prices of some petroleum products have gone up by 11 percent for the first pricing window in January. Checks by Citi Business News indicate that the price of a litre of petrol has gone up between 8 and 11 percent while the same quantity for a litre of diesel has gone up between 9 and…
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Ghana on course to become energy sufficient – President Mahama
President John Mahama has touted his administration’s achievement in what he describes as a major turnaround in the country’s power sector. According to him, the increased generation capacity and a relative stable supply system has lessened the plight of consumers recently. The President made the remarks when he gave his final State of the Nation…
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ICU warns of massive layoffs over gas insecurity in 2017
The Industrial and Commercial Workers’ Union (ICU) has cautioned of another bout of redundancy in the economy due to uncertainties of a stable power sector early this year. They argue that industry cannot support any increases in operational costs should the situation recur. “Obviously we are even going to see some redundancies again, obviously we…
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DKM creditors cry foul over bribe allegations
Validated customers of DKM Microfinance Company have accused officials of the Ghana Commercial Bank as well as security personnel at the payment centers of demanding bribes before paying them their locked up investments. According to the customers, the officials in question demand between GHC200 and GHc500 before paying customers their locked up cash. Spokesperson for…
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Maidie Arkutu bows out as Unilever Ghana MD
The Managing Director of Unilever Ghana Limited, Maidie Arkutu has taken a bow as the Managing Director of the company. Madam Arkutu has been elevated to the position of Vice President of Francophone Africa, within the Unilever Group. Her appointment takes effect 1st January, 2017. Mr. Yeo Ziobeieton now assumes the position as the new…