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Public Financial Management Bill addresses misuse of state funds

The Public Financial Management Bill, 2016 currently before Ghana’s legislature is expected to receive the House’s approval Wednesday. The Bill, whose content has been lauded by both sides of Parliament, will help address the gaping difference regarding proper use of state funds by public officials. It will improve the overall ... Read More »

Experts warn $953m Early Power deal stinks; urge Parliament to reject it

A 400 megawatt power agreement for $953 million, currently being pushed through Parliament, is generating further controversy, as two analysts back suggestions the deal fails in value-for-money analysis. Energy Policy Advisor at energy think tank, Africa Centre for Energy Policy (ACEP), says a preliminary assessment of the deal points to ... Read More »

DKM to pay 63,000 customers; its liabilities hit GHC21m

Customers of DKM Microfinance anticipating payment of claims after the liquidation process may have to wait a little longer as the liquidation processes continue to face some constraints; at least this is the information available to Citi Business News. The Official Liquidator for the company has revealed that the paucity ... Read More »

TOR breaks down again

Ageing equipment and failure to undertake three consecutive turnaround maintenance since 2011 are taking a heavy toll on the operations of the Tema Oil Refinery (TOR) as the refinery has broken down again due to mechanical fault, which has put it out of operation for over a month now. The ... Read More »

Over 300 workers in Tema to lose jobs due to ‘dumsor’

Some companies in the Tema Industrial area have begun laying off workers due to the recurring power challenges, popularly called “dumsor”. Speaking to Citi News’ Elvis Washington, the Tema Regional Officer of the Industrial and Commercial Workers Union, Eleazer Nyaunu disclosed that over 300 workers in the area are scheduled ... Read More »

Donewell Insurance opens doors to university students

Donewell Insurance Company is opening its doors to university students who wish to build their capacities by offering them internship opportunities. The Managing Director of the company, Mrs Stella Segbawu, who spoke to the Daily Graphic after a two-day training programme for the first batch of interns, said the company ... Read More »

Banks need standards to deepen fight against electronic fraudsters – CEO of GHIPSS

The Chief Executive Officer of Ghana Interbank Payment and Settlement System (GHIPSS), Mr Archie Hesse, has stressed the need for all banks and international institutions as well as merchants to achieve global best practice standards.. Some of these global best practice standards, according to Mr Hesse, are the Payment Card ... Read More »

Enhancing poultry business with feather-removing machine

Many businesses, including the poultry industry, face challenges of ready market in the face of high operational cost. To avoid total collapse, some business owners have deployed technology and other innovative ways to enhance productivity. Dressing poultry for the table is tedious work which requires some amount of skill. After ... Read More »

Oil blocks contracting is murky – ACEP

The African Center for Energy Policy (ACEP), an energy think-thank, is advocating for an open and competitive process for the bidding of the country’s oil blocks contracts. This, according to ACEP, would ensure that oil blocks were given out to competent investors who are financially resourceful. It would also do ... Read More »

Bank of Ghana keeps policy rate at 26 per cent

The Bank of Ghana (BoG) held its policy rate unchanged at 26 per cent as the risk to inflation and growth is in balance. “In assessing the current economic conditions, the Committee views the risks to inflation and growth as balanced and decided to maintain the policy rate at 26 ... Read More »

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