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Author Archives: Lawrence Segbefia

Better incentives influenced success of local dollar bond- Economist  

Economist, Dr. Eric Osei-Assibey has attributed the successful issuance of the country’s first local dollar denominated bond to better incentives it provides to investors. Government last week raised a total of 94.6 million dollars at a rate of 6.0 percent with a maturity term of two years. Even though government targeted 50 million dollars, total bids were 99.6 million dollars ...

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WAPCo hints of tariff review with Ghana

The West African Gas Pipeline Company (WAPCo) has agreed to a possible tariff review in the future with the government of Ghana to enable reliable gas supply. The Minister of Petroleum, Emmanuel Armah-Kofi Buah recently criticized WAPCo for its unrelenting stands on charging Ghana high tariff before it supplies gas for power generation. Mr. Buah also urged WAPCo to be ...

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Taxify starts operations in Ghana

Online transport technology company, Taxify, has begun operations in Accra, Ghana. The Taxify app will allow customers to use their smartphones to request trips from the nearest Taxify driver, who will use GPS to locate the customer, then take the customer to an agreed  destination. With competitive rates and reliability, Taxify is set to be the go-to online transportation app ...

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Social Enterprise impacts thousands in Ghana

A new research by the  Social Enterprise Activity in Ghana has revealed that  98 social enterprises in Ghana currently employ 998 young people directly, impacting 103,148 lives in Ghana. This was announced at the British Council Ghana high level launch of the Social Enterprise Activity in a Ghana Research Report. The event which was held at the British Council in ...

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Local poultry farmers ‘cry’ over import of frozen chicken

The Poultry Farmers Association of Ghana are lamenting over the stiff competition they face with the importers of frozen chicken. The association says about 95% of their market has been taken over by the imported chicken products. It would be recalled that local poultry farmers earlier appealed to government to ban the imports of frozen chicken . Meanwhile, the importers ...

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DKM customers dissatisfied with second list of validated creditors

Customers of DKM Microfinance Company are still dissatisfied with the second list of validated creditors published by the Official Liquidator of the company, the Registrar General’s Department. The Registrar General’s Department this week published names of some 6,035 validated creditors in addition to the 998 names published earlier. Over 70,000 customers of DKM are awaiting payments of their locked up ...

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Dangote’s $2bn Fertilizer Plant under construction [photos]

The two-line Dangote Fertilizer Complex, consisting of Amonia and Urea plants, will have a total production capacity of three million tons per annum to feed countries in the West African sub-region. By: Lawrence Segbefia/citibusinessnews.com/Ghana

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Govt raises $96.4m from first local dollar denominated bond

Government has raised a total of  96.4 million dollars in its first local dollar denominated bond  at a rate of 6.0 percent. Total bids were 99.6 million dollars but government accepted 96.4 million dollars, above its original target of 50 million dollars. By this, the cost of the bond is lower compared to government’s last Eurobond which was issued in ...

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Dangote Fertilizer to push crop production up

Ghanaian farmers will soon benefit from the import of cheap fertilizer from the Dangote Group of companies in Nigeria, as the firm constructs the biggest fertilizer plant in the world located in Lagos State. The two-line Dangote Fertilizer Complex, consisting of Amonia and Urea plants, will have a total production capacity of three million tons per annum to feed countries ...

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Reduce phone prices to reflect tariff reduction- Telecoms Chamber

The Ghana Chamber of Telecommunications has charged phone importers and assembling companies in Ghana to ensure that the reduction on the import duties of phones reflect in their market prices. After a lot of agitation from stakeholders, Finance Minister, Seth Terkper announced in the 2015 Budget that government has reduced tariff on imported handsets from 20 to 10 percent in ...

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