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Business

Poverty levels to widen over excessive borrowing – IFS

The Institute for Fiscal Studies (IFS) is predicting of a huge distortion to the provision of major infrastructural projects in the country should government fail to tackle the rising public debt stock. The IFS argues that the rising interest payment on the debt continues to drain financial resources allocated to the construction of critical infrastructure such as roads, railways and ...

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Use visa-on-arrival policy to attract African investors – Mahama

john dramani mahama opens arms

Former President John Dramani Mahama has advised African leaders to offer their fellow African nationals special protocol services in the form of visas-on-arrival in a bid to open up the continent for investments. According to him, this will remove the hustle African investors go through trying to access visas when they want to visit other parts of the continent. “I ...

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Gold Fields planned layoffs: Gov’t intervenes after workers’ protest

Minister of Lands and Natural Resources, John Peter Amewu

The Minister of Lands and Natural Resources, John Peter Amewu, says government has signed a Memorandum of Understanding (MoU) with aggrieved workers of Gold Fields Ghana who have been protesting over some staff layoffs. According to him, the MoU is to ensure that the workers of the company who will be affected by the redundancy programme are re-engaged under the ...

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Layoffs at Goldfields will impact mining sector adversely – Dr. Yao Graham

The Third World Network is predicting a drastic change in large scale mining in Ghana if Goldfields Ghana’s new mining plan is allowed to sail through. According to the Coordinator for the Third World Network, Dr. Yao Graham, this is also likely to impact the revenue from the mining sector going forward. Goldfields Ghana Limited has announced that it is ...

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Gold Fields justifies planned layoffs

Vice President and Stakeholder Relations for Gold Fields Ghana Limited, David Johnson, has said the company’s transition from owner mining to contract mining, which is expected to lead to the laying off and re-employment of about 1,500 employees on contract basis, is not borne out of selfish interests. Some employees of the company staged a demonstration on Monday to resist ...

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AWA renews commitment to safe flights after Kumasi incident

Domestic airline company, Africa World Airlines (AWA), is assuring its customers of their continuous safety on the company’s flights. The assurance comes on the back of an incident it witnessed on one of its aircrafts on a flight to Kumasi on Sunday, March 11, 2018. A statement from AWA and copied to Citi Business News attributed the incident to a bird strike ...

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New cashew plan to boost revenue by $ 4bn – GEPA

The Ghana Export Promotion Authority (GEPA) is confident that the new reforms it is rolling out in the cashew sector should help it to meet the 10 billion dollars Non-Traditional Exports (NTE) revenue target by 2020. President Akufo Addo in February, launched a new ten year cashew development plan. The plan, is largely aimed at improving the production levels of ...

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Glo introduces Yakata, a new exciting offer for subscribers

Glo Mobile Ghana has launched an aggressive market offer, Glo Yakata into the telecoms market. The new offer provides exceptionally huge and unmatchable benefits to subscribers on every recharge. These include free data, unlimited Glo to Glo calls and free minutes to call to other networks. For example, a recharge of GHc1 gives the subscriber his or her airtime value ...

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7 arrested after Gold Fields workers’ protest

Seven workers of Gold Fields Ghana Limited have been arrested following a demonstration on Monday morning. The demonstrating workers blocked all access to the Tarkwa mine, preventing other staff from going to work. A joint police and military force had to fire tear gas to disperse the crowd. The workers are protesting management’s decision to opt for contract mining, which ...

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Banks’ positions on meeting new capital requirement (Audio)

With just nine months left for banks to meet the minimum capital requirement set by the Bank of Ghana, some banks have confirmed to Citi Business News they are in good position to meet the requirement. The Central Bank increased the minimum capital requirement for banks from 120 to 400 million Ghana cedis to enhance the financial position of banks. But what ...

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