Tag Archives: Business

Vice President Dr. Mahamadu Bawumia has addressed criticism saying that the government has yet again gone for a loan, allegations referring to the recent $19bn financial injection courtesy of the government of China. Speaking at a China-Africa Joint Research and Exchange Program, Vice President Bawumia said that the recent $19bn …

The Managing Director of the Bulk Oil Storage and Transportation Limited (BOST), Alfred Obeng Boateng, has been cleared of any wrongdoing in the release of off-spec fuel onto the market. According to the Minister of Energy, the contamination of the 5 million litres occurred way before the assumption of office …

Some financial institutions are hopeful of gains from the capital market should government reduce its borrowing from banks. The institutions believe that the excessive borrowing by government crowds out the private sector and renders them uncompetitive. The NPP government has often hinted of creating an avenue for the private sector …

Prices of some goods and services manufactured locally and imported have been increased from July 1 following the introduction of a 3% VAT Flat Rate Scheme (VFRS) from July 1. But the industries, manufacturers, importers have argued that the tax would result in them paying 3% more in every stage of value addition in …

The US Government has told Citi Business News everything is on track for the private sector participation in the Electricity Company of Ghana (ECG) under the Power Compact II agreement. Currently, the six shortlisted companies are evaluating the assets of the ECG to guide further decision making on the move. …

The American government says it is committed to double its trade volumes with Ghana via continuous investments to add value to Ghana’s exports. The US Ambassador to Ghana, Robert Jackson explains that this should increase Ghana’s trade volume with the US from the current 1.2 billion dollars to 2.4 billion …

A study conducted on behalf of the National Trade and Facilitation Committee between March and May 2017 has revealed that high charges at the Ghana’s harbours are unduly impeding trade with other countries. The study by USAID, however, noted that high port charges do not necessarily result in increased revenue …

A founding partner of the E. O Group, George Yaw Owusu, credited with the discovery of crude oil in commercial quantities in Ghana, has vehemently denied claim that, former President John Kufuor, used him and his colleague as fronts to chip away substantial part of the natural mineral to himself. …

Ghana has lost $10 million following the ban on five vegetable exports to the European market. Poor inspection of infested vegetables was blamed for the ban. Having put in place a lab and a traceability system, the Ghana Export Promotion Council said it expects the ban will be lifted by September …

The National Petroleum Authority, (NPA), has confirmed that the two companies alleged to have purchased the over 5 million litres of contaminated fuel under suspicious circumstances from the Bulk Oil Storage and Transportation (BOST) Company, were not licensed to engage in that questionable transaction. This corroborates the claim by the …