{"id":387632,"date":"2018-01-01T11:35:07","date_gmt":"2018-01-01T11:35:07","guid":{"rendered":"http:\/\/citifmonline.com\/?p=387632"},"modified":"2018-01-01T11:35:07","modified_gmt":"2018-01-01T11:35:07","slug":"top-20-business-stories-2017","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2018\/01\/top-20-business-stories-2017\/","title":{"rendered":"Top 20 business stories in 2017"},"content":{"rendered":"
Your most comprehensive business news website,\u00a0 citibusinessnews.com brings you some of the top business stories in the year 2017.<\/p>\n
These news\u2019, which cuts across different sectors of the economy also featured on our news bulletins on Citi FM.<\/p>\n
GCB takes over UT and Capital banks<\/strong><\/p>\n The Bank of Ghana in 2017 revoked the licenses of two indigenous banks, UT Bank and Capital Bank.<\/p>\n The collapse of the two indigenous banks; left in their wake discussions within the industry as to what possible conditions may have triggered the situation.<\/p>\n The Bank of Ghana among others cited the provisions of the Banks and Specialised Deposit-Taking Institutions (SDIs) Act, 2016 as basis for allowing GCB Bank to assume the assets and liabilities of the two local banks.<\/p>\n <\/a><\/p>\n Read full story<\/strong><\/a><\/p>\n Ghana wins maritime dispute case against Ivory Coast<\/strong><\/p>\n In 2017, the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS),\u00a0 ruled in favor of Ghana in the three-year-long maritime dispute between the country and C\u00f4te d\u2019Ivoire.<\/p>\n The Chamber in a unanimous decision on Saturday September 23, 2017, ruled that there has not been any violation on the part of Ghana on C\u00f4te d\u2019Ivoire\u2019s maritime boundary.<\/p>\n The Chamber rejected C\u00f4te d\u2019Ivoire\u2019s argument that Ghana\u2019s coastal lines were unstable.<\/p>\n It also noted that Ghana has not violated C\u00f4te d\u2019Ivoire\u2019s sovereign rights with its oil exploration in the disputed basin in question.<\/p>\n <\/a><\/p>\n Read full story<\/a><\/strong><\/p>\n Sibtcon Switch awarded GHS4.6bn to establish mobile interoperability platform<\/strong><\/p>\n Sibton Switch Systems defended a 4. 6 billion cedis contractt for the establishment of an interoperable platform for mobile money transactions in Ghana.<\/p>\n According to the company, the quality and extent of services provided for by the platform, guaranteed its selection by the Bank of Ghana.<\/p>\n \u201cIt\u2019s a long term infrastructure; it\u2019s a retail payment system that does not just cover one party which will be interoperability for Mobile Network Operators (MNOs). It cuts across the entire retail payment systems; it comes with MNOs, banks, aggregators, merchants among others,\u201d of Sibton Switch systems, Keiko Wantanabe explained on the Citi Breakfast Show.<\/p>\n But the contract was later revoked by the central bank.<\/p>\n