Asantehene money laundering claims baseless – Ghana Intl. Bank

Asantehene Otumfuo Osei Tutu II

The Ghana International Bank has clarified that an ongoing tribunal hearing that has captured the public’s attention, is not about whether the Asantehene, Otumfuo Osei Tutu II engaged in money laundering or not. There is not even any suggestion of money laundering allegations against the Asantehene, the Ghana International Bank said. A statement from the UK-based bank asserted that, the ongoing litigation between ...

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Importers up in arms over unequal tax system


The Frozen Food Importers Association of Ghana wants government to grant its members preferential values for duty or taxes charged on imported products at the ports. According to them, government has subsidized taxes on imported products for one company thereby creating unfair competition in the frozen foods industry. The association believes if this is not checked, the industry will be hit by ...

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Fuel prices to drop again in October


Consumers are expected to pay less at the pumps in the second pricing window of October. This is according to the Institute of Energy Security (IES) who have predicted a reduction in fuel prices of up to three percent. Fuel prices since the beginning of this year (2017), have seen marginal increase due to the constant depreciation of the cedi ...

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Business women gear up for maiden executive Women Network Conference


Hundreds of women leaders, professionals and entrepreneurs have begun securing seats for the maiden Executive Women Network Annual Conference. The conference slated for October 20th, 2017 at the Movenpick Ambassador Hotel, Accra is under the theme: Rebranding Ghana to drive business growth – the perspective of women leaders. The theme is a call to action for leadership, across every facet ...

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James Town fishermen ‘cry’ over declining fish stock


Fishermen at the James Town beach in Accra are lamenting over the declining fish stock in Ghana’s territorial waters due to illegal fishing methods as well as the changing weather pattern. The assertion follows a recent report of a sharp drop in the fish stock along Ghana’s coast line, threatening the growth of the fisheries sub-sector. A fisherman at the ...

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Declining cocoa prices cost Ghana $1bn annually

Dr. Owusu Afriyie Akoto - Agric Minister

Ghana is losing at least one billion dollars every year from the declining prices of cocoa on the international market. The development is also said to be impacting on projected revenue from the cash crop to improve operations in the sub-sector. This notwithstanding, the government has maintained the producer price of cocoa for farmers. Checks by Citi Business News have shown that, ...

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Fuel stations to undergo electrical wiring audit


The Energy Commission is set to launch an audit of all electrical wiring at the various fuel stations by the end of this month [October]. The move is among others to ensure compliance by the various fuel stations with the mandatory ten year audit of all electrical wiring systems. Citi Business News understands that the exercise also comes on the back ...

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Local contractors lament delays in payment from gov’t


The Ghana Real Estate Developers Association (GREDA) wants government to pay local contractors on time. This, they say will enable government successfully implement its policy of ceding 70 percent work to local contractors. The Minister for Procurement Sarah Adwoa Sarfo has announced that government is working on a policy document that will see 70 percent of government contracts going to ...

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Low training for Ghanaians in oil industry worrying


Stakeholders in Ghana’s Oil and Gas industry have bemoaned what they say is the low level of investment in the training of personnel in the sector. According to them, government has done little to increase local participation in the sector, despite the implementation of the Local Content Law, which seeks to promote the maximization of value addition and job creation ...

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Maiden National General Insurance Conference takes place Oct. 19

Ms. Aretha Duku, President of the GIA

The Ghana Insurers Association (GIA), under the auspices of the General Insurance Council (GIC), will hold the first-ever National General Insurance conference on the 19th of October, 2017. The event, set to take place at the Labadi Beach Hotel, Accra,will be on the theme:‘Transforming the General Insurance Industry through Self-Regulation, Financial Capacity and Business Innovation.’ The conference will have the ...

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