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Business

Anglogold completes move to handover 60% of Obuasi mine to govt

AngloGold Ashanti Ghana Limited has successfully completed the process of surrendering some 60% of the Obuasi mine concession to government. According to AngloGold Ashanti it handed over the area as part of a voluntary process which commenced in November 2013. The area in question Citi Business News understands covers about 273 square kilometers and excludes the Obuasi mine proper, which ...

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February 2016 inflation decreases to 18.5 %

Inflation for the second month of the year has decreased by 0.5 percent. Inflation for the February 2016 hit 18.5 percent compared with the 19.0 percent recorded in January 2016. The monthly change rate in February 2016 was 0.7 percent while that of January 2016 was 4.6 percent. The Ghana Statistical Service cites non food inflation (decrease in utility, transport ...

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StanChart Ghana records massive drop in profits

Banking giant Standard Chartered Ghana recorded a massive dip in its profit for 2015. The bank’s profit for 2015 declined by a little over 68 percent. The bank saw its profit for 2015 drop to 66,148,000 cedis from the 208,271,000 cedi recorded in 2014. The bank’s profit before tax dropped to 91,062,000 cedis in 2015 as compared to the 274,840, ...

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Vodafone leads data subscriptions in Ghana – NCA

Telecommunications giant, Vodafone Ghana recorded the highest mobile data subscriptions in the telecom industry in December 2015, according to the National Communication Authority (NCA) The Authority’s mobile data figures revealed that Vodafone increased its data subscriber by 78,700, representing 2.43% increase. This makes Vodafone the top gainer for the period ending December 2015 with 3,316,343 mobile data customers and 18.39% ...

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Rising to the top : Top female CEOs advise

The Chief Executive Officer of the Women’s World Banking Ghana, Charlotte Lily Baidoo has urged young ladies to be determined in their quest to become successful career women. According to her, being able to surmount the challenges that come along with being a woman in a male dominated business world will largely depend on a lady’s ability to work hard ...

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52% of Sub-Saharan Africans use mobile money – Report

Report from a survey conducted by Ericsson Consumerlab has revealed that about 52% of Sub-Saharan Africans use various mobile money services. The report dubbed Financial Services for Everyone also showed that while 63% of Sub-Saharan Africans are unbanked, 52% of the number uses mobile money services through agents. According to the report 20% of Africans in the sub region use ...

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Airtel resolves service disruption

Airtel has resolved the service disruption that hit its network early this morning, March 9, 2016. The disruption in service Citi Business News has learnt was due to a system upgrade. Subscribers of the network early this morning were up in arms against the telecom provider after they were unable to  make calls or browse the internet. Some subscribers who ...

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BoG pushes for increase in benefits for depositors

The Bank of Ghana is proposing an increase in the amount to be paid to depositors who lose their investments to financial institutions under the deposit protection bill. According to the governor of the central bank the figure must be reviewed upwards to allow confidence in the country’s financial system. The New bill, Citi Business News has learnt when passed, ...

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PWC to carry out liquidation of DKM assets – BoG Governor

The Bank of Ghana has indicated that auditing firm, Price Waterhouse Coopers will be undertaking the liquidation of the assets of DKM microfinance. According to the Governor, Dr. Henry Wampah, the processes have been commenced but the central bank is awaiting a response from the Registrar General’s Department concerning a 30 day revocation notice of license to facilitate the process. He made ...

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Business Today to host top women CEOs

Citi Fm’s consumer focused show Business Today will on Wednesday 9th March, 2016 host top three female CEOs. The three have excelled in various fields including banking and financial services, technology and fashion. The three CEO ‘s are Charlotte Lilly Baidoo- CEO of Women’s World Banking Ghana, CEO of Edel Technologies- Ethel Cofie and Mabel Simpson – CEO of MSimps. ...

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