Tag: Ghana Business
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Investors begin ditching TBills as rates hit low levels
Investors have begun ditching treasury bills and now exploring other investment instruments in the country over the continuous significant decline in TBill rates in the country. The Treasury Bill rates for the 91 and 182 days started 2016 at 22 and 23 percent respectively. But the figures however reduced to 18 percent by the end…
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![Contract workers still shortchanged by employers [Audio]](https://citibusinessnews.com/wp-content/uploads/2016/08/Haruna-Iddrisu-1.jpg)
Contract workers still shortchanged by employers [Audio]
If you are an employee on contract terms but not enjoying benefits as per the law then you must demand for it. This is according to labour Analyst Austin Gamey. His assertions follow growing concerns over the meager pay given to contract workers in particular organizations notably those in the financial, telecom and security industries.…
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Citi FM’s Hello Kigali tour attracts dozens of private businesses
More businesses are registering to participate in the biggest business trip for 2017. The Hello Kigali Tour, involving Citi FM and private sector delegation, is to expose businesses to a first-hand experience of how a country with a recent genocide history, has turned around its story making it an investment hub within sub-Saharan Africa. Despite…
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SSNIT increases pension benefits by 18%
The Social Security National Insurance Trust (SSNIT) has increased pension benefits of pensioners by 18%. This is however 2 percent lower than that of 2016 which was 20 percent. In 2016, the pension benefits per pensioner was increased from GH¢230.00 to GH¢296.89. The current minimum pension for pensioners on the SSNIT pension scheme is GHc276.00.…
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Stanbic bank to compensate ‘swindled’ customers
Stanbic Bank has announced it will compensate its customers who were swindled by one of its contract workers recently. According to the bank, it has launched investigations into the fraud case in which a contract worker with the bank’s Tema Community one Branch, Martha Amakye has allegedly swindled some customers to the tune of GH¢900,000.…
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New minimum wage is realistic – Labour Analyst
Labour Analyst, Austin Gammey has described as fair, the new national daily minimum wage which takes effect this month. According to him, the figure will among other things enable employers meet their operational costs in case they are unable to pay higher. “It is fair because minimum means minimum but if the employer thinks they…
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Gov’t extends contract with Subah Infosolutions
Government has extended its contract with Subah Infosolutions, the company monitoring Ghana’s revenue in the telecommunication sector. A letter dated December 1, 2016 and signed by the Commissioner-General of the Ghana Revenue Authority (GRA), George Blankson said, “We wish to inform you that Subah Infosolutions Ghana Limited has been granted approval to continue the role…
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Domestic airlines record huge losses due to Harmattan
Domestic Airlines are counting their losses following the harsh harmattan weather which led to them cancelling majority of their flights at the latter part of 2016. According to them, the unfavourable weather condition has impacted negatively on their operations. “We have had to cancel some flights and have lost money as a result. If people…
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GDP inches to 4% in 2016 3rd quarter
Ghana’s provisional GDP (including oil) for the 3rd quarter of 2016, grew by 4 percent compared to 3.5 percent in the same period of 2015. The services sector recorded the highest growth of 4.7 percent, followed by industry and agric with 3.9 and 2.3 percent respectively. However, the non-oil provisional GDP for the third quarter…
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Producer Price Inflation shoots up to 11.9 %
Ghana’s Producer Price Inflation (PPI) for November 2016 reached 11.9 percent, from the 9.7 percent recorded in October. This represents a 1.2 percent increase in the PPI figures recorded between the one month period. According to the Ghana Statistical Service, the utility subsector recorded the highest year on year inflation of 38.3 percent. It was…