GET IN TOUCH
 
 
 
 
 

Business

Occupancy rate for new houses is 40% [Infographic]

At a time that Ghana is grappling with solving her worsening housing deficit, it is emerging that some property developers are also finding difficulty in getting occupants for their properties. As a result, most of them have begun counting their losses as the continuous delay compounds their interests to be paid on loans contracted from banks. Statistics available to Citi Business ...

Read More »

FPSO Kwame Nkrumah to shut down for maintenance works

Operators on the Floating, Production, Storage, and Offloading (FPSO) Dr. Kwame Nkrumah have served notice the vessel will shut down. This is to allow for maintenance works on the vessel’s bearing at the Jubilee oilfields. This was announced by a Petroleum Engineer at the Ghana National Petroleum Corporation (GNPC), Albert Longman Newman. The exercise will be the first of three ...

Read More »

TOR, IES, faceoff over forced shutdown of refinery

Circumstances that led to a forced shutdown of the Tema Oil Refinery (TOR) after just 16 days of operations have invoked some bad blood between energy think-tank Institute for Energy Security (IES) and the management of TOR. The refinery, which resumed operations on January 2, 2018, experienced a forced shutdown on January 18, 2018. The IES attributed the shutdown to ...

Read More »

IES cautions of fuel crisis over TOR unit shutdown

The Institute of Energy Security (IES) wants the government to intervene and get the Tema Oil Refinery (TOR) back to work. The IES believes this will largely be resolved with strengthening of the leadership of the facility. TOR has seen numerous setbacks in its operations with the recent being its Crude Distillation Unit (CDU). The Unit which commenced operations on ...

Read More »

MiDA to select ECG concessionaire by September 2018

The Millennium Development Authority (MiDA) has told Citi Business News it should select a concessionaire for the private sector participation in the ECG by September this year – 2018. This should allow the injection of some five hundred million dollars ($500m) into the operations of the power distributor. The CEO of MiDA, Mr. Martin Esson Benjamin his outfit will evaluate the proposals ...

Read More »

Ghana’s housing crisis: High supply outstrips low demand?

At a time that Ghana is grappling with solving her worsening housing deficit, it is emerging that some property developers are also finding difficulty in getting occupants for their properties. As a result, most of them have begun counting their losses as the continuous delay compounds their interests to be paid on loans contracted from banks. Statistics available to Citi Business ...

Read More »

GhIPSS shifts mobile money interoperability to February 2018

The Ghana Interbank Payment and Settlement Systems (GhIPSS), has rescheduled the implementation of the mobile money interoperability to next month (February, 2018). This comes after missing the initial November 2017 deadline. The CEO of GhIPSS, Mr. Archie Hesse who disclosed this new date to Citi Business News said the necessary processes for all the service providers, that is, banks and telecom operators have since ...

Read More »

Fidelity bank appoints Julian Opuni as deputy MD

Fidelity Bank has appointed Mr. Julian Kingsley Opuni as its Deputy Managing Director. Until his appointment, Mr. Julian Opuni was the Divisional Director for Retail Banking where he played a key role in building the retail business of the Bank. Julian brings on board a wealth of experience in banking, having worked in various roles in the international financial sector ...

Read More »

PPP Bill will be laid soon – Osafo Maafo

Senior Minister, Yaw Osafo Maafo has disclosed plans to get the Public Private Partnership Bill passed by Parliament soon. The Bill, among others, will compel state agencies to be transparent in awarding contracts to give value for money. Cabinet is currently considering the Bill for subsequent submission to Parliament for passage. “We have received a bill. The bill is before ...

Read More »

Minerals Commission must block leaks in gold export – Gold exporters

The Association of Gold Exporters of Ghana has called on the Minerals Commission to take steps to prevent recalcitrant gold exporters from exploiting the commission’s systems. According to the treasurer of the association, Dr. Abu Grant, the Minerals Commission needs to be steadfast in its operations, in order to stop the leakage of gold revenue from Ghana. His comments follow ...

Read More »