GET IN TOUCH
 
 
 
 
 

Author Archives: Lawrence Segbefia

More banks considering mergers, takeover– BoG

The Governor of the Bank of Ghana, Dr. Ernest Addison

The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has disclosed that the central bank has received some proposals from banks pushing for mergers and takeovers, following the announcement of the new capital requirement. The Bank of Ghana increased the capital requirement of banks from 120 million cedis to 400 million cedis in September 2017. The increment was ...

Read More »

BoG maintains policy rate at 21%

The Governor of the Bank of Ghana, Dr. Ernest Addison

The Bank of Ghana (BoG) has for the first time this year maintained the Policy Rate at 21 percent. This follows three consecutive reductions from 25.5 percent in January to 21 percent July. Speaking at a press conference in Accra, the Governor of the Bank of Ghana, Dr. Ernest Addison attributed the decision to maintain the current figure on the ...

Read More »

Ghana’s debt stock hits ¢138.6bn in June 2017

The Governor of the Bank of Ghana, Dr. Ernest Addison

New figures released by the Bank of Ghana(BoG) show that the country’s total debt stock is at 138.6 billion cedis as at June 2017. The new figure shows that Ghana’s debt increased by 1.3 billion cedis from May to June 2017 as the month of May recorded a debt stock of 137.3 billion cedis. The figures were contained in statement ...

Read More »

Tullow to resume TEN operations following ITLOS judgement

Tullow-Logo22

Oil giant, Tullow, is to resume operations at the TEN oil fields by December 2017, after putting it on hold for two years due to the maritime border dispute between Ghana and Ivory Coast. Ghana dragged Ivory Coast to the Special Chamber of the International Tribunal of the Law of the Sea(ITLOS) in September 2014, after negotiations with Ivory Coast ...

Read More »

COCOBOD secures $1.3bn for 2017/18 cocoa season

joseph-boahen-aidoo

The Ghana COCOBOD has signed an agreement with a number of banks to raise 1.3 billion dollars at an interest rate of 0.65% plus libor rate for the 2017/2018 purchase of cocoa beans. The syndicated loan which was signed in France today [20/09/2017] had 25 banks participating in the transaction. Speaking to journalists via a teleconference after signing the agreement ...

Read More »

Govt reviews policy on tax exemptions

kwaku-kwarteng-1

Government has decided to discontinue the requirement for exemption holders to provisionally pay the import duty and taxes upfront and apply for a refund later. In March this year during the presentation of the national budget, government announced the revocation of import duty and some taxes at the ports deemed nuisance. Importers were directed to pay upfront but made to ...

Read More »

ABL, Uber advocate smart drinking

Joscelyne Ahiable, Communications Manager-ABL and Baafour Kyeramateng, Marketing Coordinator-Uber Ghana, engage in conversation outside one of the  drinking outlets

Night has fallen across the city sky, and under the illuminated glow of a safety light, two gentleman slip leisurely into a waiting Uber vehicle at Champs, Paloma Hotel, after a night out. On any other night, this would have seemed mundane and pedestrian. But on 16th September, 2017, the act wields a lot more gravitas. This is because the ...

Read More »

25 banks below 50% of new capital requirement

A woman holds 03 July 2007 in Accra a wa

Over 25 banks in the country will have to race against time to meet the new capital requirement announced by the Bank of Ghana (BoG) as their current capital is less than 50 percent of the 400 million cedis quoted by the central bank, a Credit Risk Consultant and Banker, Emmanuel Akrong has said. According to him, even though all ...

Read More »

#CitiBizOlympics: Guinness Ghana Ltd vows to win more trophies  

whatsapp-image-2017-09-18-at-5-34-49-am

Workers of Guinness Ghana Ltd have told Citi Business News they will win over five trophies at this year’s Citi Business Olympics. More companies are registering for the Citi Business Olympics as the date gets closer to participate in the biggest corporate sporting event in Ghana. The Citi Business Olympics which is scheduled for Saturday September 23rd will assemble thousands of ...

Read More »

Gazprom secures major gas deal in Ghana

gazprom-energy-transparent-q1-small

Sources within the Ghana National Petroleum Corporation (GNPC) have confirmed, exclusively to Citi Business News, that the company’s board has approved the awarding of a long term Liquefied Natural Gas (“LNG”) supply contract to Gazprom, the world’s largest producer of gas. The long term supply contract is expected to significantly increase the country’s energy security, providing Ghana with 250 MMscf/d ...

Read More »