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GRA closes down company office over GH¢2.3 million unpaid tax

The Ghana Revenue Authority (GRA) has closed down the offices of Africa Central Cargo, a clearing agency at Tema, over its unpaid tax of GH¢2.3 million. The action came after the company persistently failed to comply with demand notices served on it. The Reverend John Yaw Boabeng, Chief Revenue Officer in charge of the Recovery, Debt Management and Enforcement Unit, ...

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We’ll save $60m yearly from renegotiated Karpower deal – Dep. Minister

Though the exact savings from the renegotiation of the Karpower deal from 10 to 20 years are yet to emerge, Ghana will be saving at least $60 million per year, according to a deputy Minister for Energy, William Owuraku Aidoo. These savings will come from the utilization of gas from the Sankofa fields. Mr. Aidoo justified the Akufo-Addo’s administration’s extension of ...

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Karpower deal extension: IES warns of rise in power cost (Audio)

The Institute of Energy Security (IES) is cautioning of an eventual increase in the cost of power generated from the Karpowership over the continuous payment of capacity charges. The IES believes this will also defeat the immediate claims by the government of reducing the cost of power produced from the power barge. The comments come on the back of government’s ...

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Airtel Tigo joins calls for 5G network in Ghana

The Chief Executive Officer of Airtel Tigo, Roshi Motman has called on the National Communications Authority (NCA) to work towards the acquisition of a 5G Spectrum in the country to reflect the evolving communication space in the world. According to her, the NCA has not been clear on its policy direction towards improved internet coverage in the country. Madam Motman ...

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Don’t create problems for yourselves – EOCO warns UT Bank directors

As at Wednesday morning, former directors of the defunct UT Bank were yet to appear before the Economic and Organized Crime Office (EOCO), despite a public summons. Speaking to Citi News’ Umaru Sanda Amadu, the Executive Director of EOCO, K. K. Amoah, said the directors in question had until 5:00pm today to report. Without providing details, he said his team would ...

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COSECA raises issues with ECG concession processes

The Coalition of Stakeholders on Energy Concession Arrangements (COSECA), is questioning the processes being used to choose a concessionaire to manage the Electricity Company of Ghana (ECG) under the Power Compact Two. According to the Coalition, some of the companies bidding to takeover ECG have demonstrated that they are incapable of delivering since they are already engaged with the ECG. ...

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EOCO invites UT, Capital Bank directors over collapse

Former Directors of defunct UT Bank will this morning [Wednesday], appear before the Economic and Organized Crime Office (EOCO) to answer questions on their roles in the bank’s collapse. This follows findings of an investigative report on the collapse of the bank which was submitted to the Bank of Ghana. Former Directors of Capital Bank which also collapsed alongside UT ...

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BoG stops unwarranted loans to ‘cronies’ with new corporate rules

Directors of banks and other specialized deposit taking institutions cannot operate without disclosing their interests in their places of work. Also, the central bank has directed the full disclosure of conflict of interest guidelines by such institutions to tame adverse impacts of delayed loan repayments. The rules are part of new corporate governance directives issued by the Bank of Ghana ...

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Airtel Tigo integrate mobile transfer platforms

Customers of Airtel Money and Tigo Cash will by the end of April 2018, be integrated onto a single platform to allow for mobile money transactions. This is according to the CEO of Airtel Tigo, Roshi Motman. The move which will make them the second biggest mobile money operator in the country also forms part of the integration of the ...

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Gov’t extends Karpower deal by 10 years

Citi News can confirm that government has extended the controversial Karpower deal from ten to twenty years. The deal with the independent power producer which was contracted by the then Mahama government to address the nation’s power crisis at the time, was criticized by the New Patriotic Party (NPP), who were in opposition at the time. They had argued that ...

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