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Business

Demand for locally made chocolates rise

It appears manufacturers of locally produced chocolates will have to double their production levels at least for this year’s edition of the National Chocolate Day. It follows what could be described as the increased preference for locally manufactured chocolates by some Ghanaians on the occasion of National Chocolate Day. Checks by Citi Business News indicate that Ghanaians are gradually showing ...

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Atuguba cautions Parliament over Ghana-ExxonMobil oil deal

A Professor of Law at the University of Ghana Law Faculty, Raymond  Atuguba, has warned that Ghana could be shortchanged in the ExxonMobil Petroleum Agreement if Parliament goes ahead to ratify it without recourse to due diligence. He argued that, Parliament has not been thoroughly effective in carrying out its oversight responsibilities, hence the need to critically examine the agreement. ...

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Gov’t must diversify sources of Eurobond fund—Economist

The impending increase of the U.S Fed rate should encourage the government to diversify the sources of its next Eurobond, Economist, Dr. Lord Mensah has advised. His assertion follows a press release announcing that the Minister of Finance, is leading a government delegation on a non-deal road show in Asia to attract Asian investors. The U.S is expected to increase ...

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Scrap 15% Special Petroleum Tax – IES

The Institute of Energy Security (IES) has called for the outright abolishment of the 15 percent Special Petroleum Tax. The call comes after the Chamber of Petroleum Consumers (COPEC) and the Industrial and Commercial Union (ICU) embarked on a demonstration over frequent hikes in petroleum prices. The Special Petroleum Tax is one component in the price buildup of fuel at ...

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We’ll adhere to EPA’s directives – Shinefeel company

Shinefeel Ghana Company Limited at Asutsuare in the Shai Osudoku District, has said it will comply with the Environmental Protection Agency’s (EPA) directive to shut down its plastic processing unit. The factory’s manager, John Dziwornu, told Citi News, “as a responsible organization, we operate within the law so we’ll act on it [the EPA directive].” After a trip to the facility by a ...

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Mobile money attacks: Vendors appeal for protection

The increasing number of armed robbery attacks on mobile money merchants has reached an alarming rate, calling for new security measures to curb the canker. The latest victim is a 31-year old Mobile Money operator who was shot dead by some unknown assailants in the Afigya Kwabre District of the Ashanti Region. Current figure show that mobile money agents increased ...

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Gov’t reaffirms reduced tariffs despite high proposals

Government is optimistic of a reduction in the cost of electricity for the rest of this year. The optimism comes despite proposals for an increase in utility tariffs by service providers. This also follows a stakeholders’ forum ahead of the announcement of new tariffs by the end of this month. The average 14 percent reduction in the cost of electricity ...

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Elsie Awadzi appointed as BoG 2nd Deputy Governor

President Nana Akufo-Addo has appointed Mrs Elsie Awadzi as the Second Deputy Governor of the Bank of Ghana. She replaces Dr. Johnson Asiamah who resigned on January 5, 2018. Mrs Awadzi is an international economic and financial lawyer with a total of 21 years of professional experience working in various capacities in Ghana and outside. She was until the appointment, ...

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Utility service providers demand 200% increase in tariffs

Utility service providers in the country are demanding an upward adjustment in their tariff, despite assurances given by the President to reduce electricity tariff. The utility companies, who are currently meeting the Public Utility Regulatory Commission (PURC) in a Joint Consultative forum in Accra, want tariffs increased by about 200 percent. Speaking to Citi Business News, the Chairman of the ...

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Ignore reports of increased fares – Transport Operators

Road transport operators have urged the public to ignore reports of an increase in transport fares. Describing such reports as malicious, a statement from the operators said discussions were currently ongoing for a possible review of fares, but no decision has been taken. “We are alarmed by such false information being thrown around by some group of people who want to ...

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