Business News

Yale President lauds African women

President of the University of Yale, Peter Salovey has lauded African women leaders who have played various developmental roles in their organizations.

According to him, economic development moves faster when women take the lead.

Mr. Salovey encouraged governments to uphold women rights and development.

Speaking at the Yale Leadership Forum in Accra, Mr. Salovey said women should continue to take advantage of leadership positions to propel economic development.

We’re not establishing military base in Ghana – US Embassy

The United States Embassy in Ghana has denied reports that the US government is planning to establish a military base in Ghana.

It said it is only planning joint security exercises with Ghana, which will require that US military personnel are allowed access to Ghana’s military facilities.

UK High Commissioner targets private sector growth to boost ties

The British High Commissioner to Ghana, Ian Walker, is hoping to ensure more private sector investment during his tenure in Ghana.

This will be part of attempts to strengthen the partnership between Ghana and the UK as well as aligning with the Akufo-Addo administration’s focus on the private sector, he said on the Citi Breakfast Show.

The Commissioner said the reason he was keen to come to Ghana was the strong relationship between Britain and Ghana.

Solar companies equipped, ready to aid the President – SPS CEO

The CEO of Strategic Power Solutions (SPS), Ofori Boateng has stated that Solar companies in Ghana are ready and equipped to partner government meet its proposed solar energy goals.

Ghanaian-based SPS is the largest Solar PV Module manufacturers in West Africa.

The CEO’s comments comes on the back of the recent statements by President Nana Addo Dankwa Akufo-Addo at the International Solar Alliance (ISA) Summit over the weekend, that Ghana intends to increase solar energy drastically by 2030.

Ridge Passport Office resumes operations, clears backlog

Ghanaians waiting to receive their passports can now heave a sigh of relief as the Ridge Passport Office has resumed operations.

The facility was closed down last week due to an electrical fault which affected some printers.

Citi News’ sources, however, indicated that the printers are fully functional now.

Revenue target of GH¢ 39.8bn achievable — GRA Commissioner-General

The Commissioner-General of the Ghana Revenue Authority (GRA), Mr Emmanuel Kofi Nti, has indicated that the authority’s revenue target of GH¢39.8 billion is achievable.

It raked in GH¢ 32.3 billion last year, registering a shortfall of GH¢1.1 billion.

The figure, however, represented a nominal growth of 22.3 percent over the 2016 collection and was the GRA’s best performance in the past five years.

He was speaking at the opening of the annual management retreat of the GRA in Kumasi.

“Transforming revenue mobilisation strategies: the way forward,” was the theme chosen for the two-day programme.

Parliament approves govt’s $2.5 bn Eurobond

Parliament has approved government’s 2.5 billion dollar Eurobond to finance major government infrastructure.

The proceeds of the bond are expected to finance the provision of capital expenditure captured in this year’s (2018) budget for sectors such as the health, roads & highways and railway.


Nothing about merger has come to us officially - NIB

National Investment Bank has ruled out any plan to merge with the Agricultural Development Bank (ADB).

“Nothing about a merger or otherwise has come to us officially,” Board Chairman of NIB, Togbe Afede said.

Minority petitions BoG, wants details on UT, Capital Banks’ takeover

The Minority side in Parliament has written to the Governor of the Bank of Ghana and the Finance Minister requesting for information on some technical details relating to Capital and UT Banks’ takeover by GCB bank.

GCB bank took over the two banks in 2017 with the permission of the BoG because they were unable to increase the capital requirements needed for their operations.

The Minority in its letter made three demands including being furnished with the purchase and assumption transaction document to update themselves on the issues that warranted the takeover.

Minority MPs condemn burning of tipper trucks by soldiers

National Democratic Congress [NDC] Member of Parliament for the Kumbungu Constituency, Ras Mubarak, and his colleague MPs in the Northern Region, want Defence Minister, Dominic Nitiwul summoned before Parliament to explain why some military personnel allegedly set ablaze some heavy duty equipment belonging to sand winners in his constituency.

A contingent of armed military personnel reportedly set fire to 14 tipper trucks and an excavator used for sand winning in the Dalun River, a tributary of the White Volta in the Kumbungu District of the Northern Region.

GSE suspends adb over purported ‘takeover’ by uniBank

The Ghana Stock Exchange (GSE) has suspended the Agricultural Development Bank (adb) following a purported takeover of the bank by uniBank.

A statement from the GSE said the action was taken pursuant to section 7 of the GSE Automated Trading rules.

“With reference to Section 7 of the GSE Automated Trading Rules (ATS), the Managing Director of the Ghana Stock Exchange (GSE), in consultation with the Chairman of the GSE Council has suspended trading in the shares of ADB effective March 7, 2018.”

Groupe Ideal celebrates 450 women on International Women’s Day

Over 450 women, last week Thursday, received surprise goodies from Groupe Ideal as the world marked International Women’s Day (IWD).

They received beautiful gift bags and souvenirs to celebrate their social, economic, cultural and political achievements as women.

Celebrated on March 8 the world over, this year’s IWD celebration was under the theme: #PressforProgress.