The Social Security and National Insurance Trust (SSNIT) has dismissed reports that the fund faces imminent collapse over concerns of operational challenges. According to the pensions’ scheme, it has instituted measures to deepen its financial sustainability and meet potential increase in benefit claims. “As a defined benefit scheme, it is based on a certain formula … Read more
Ghanaian pharmaceutical giant Dannex has completed the acquisition of majority stake in Aryton drugs. The deal which was sealed early December, 2016 after months of negotiations and regulatory processes had UMB Stockbrokers Limited as transaction advisors and Kimathy& Partners as legal advisors. Per the deal Dannex now owns 53.47 percent of Artyon drugs after acquiring … Read more
The Agricultural Development Bank (ADB) has attributed the significant performance of the bank’s share price to investor confidence in the banking stock. As at close of trading on Monday, December 19th 2016, the share price of ADB had gained about 38 pesewas and trading at 3 cedis 33 pesewas. Also, a total of 10,000 ADB … Read more
The Agricultural Development Bank (ADB) has attributed the significant performance of the bank’s share price to investor confidence in the banking stock. As at close of trading on Monday, December 19 2016, the share price of ADB had gained about 38 pesewas and trading at 3 cedis 33 pesewas. Also, a total of 10,000 ADB … Read more
Effective Friday, December 23, 2016, the general public would have direct access to the Bank of Ghana (BoG) for clarity on issues concerning the bank’s operations. It follows the establishment of a new Contact Centre by the central bank. The Centre will also deal with requests, queries and complaints related to the banking industry. The … Read more
The Christmas bug has hit major markets across the country barely a week to Christmas day. A trip back to some of the major markets in Accra for example shows business activities have picked up tremendously. The euphoria surrounding the festive season was virtually missing about a week ago when Citi Business News visited some … Read more
New entrant into the banking industry, OmniBank Ghana has organized an Executive Breakfast Meeting in Accra to outline plans of the company for business owners. The bank which is the 32nd bank to be licensed by the central bank launched last month after opening its East Legon branch. Speaking to Citi Business News, the Head … Read more
There’s always something to look forward to in a ‘Decemba 2 Rememba’ show; and it is just not about the A-list acts or the great performances that are on exhibition every year. It goes beyond showmanship. After Raquel showed us too much, way too much at the 2012 edition of the show and after that … Read more
Access bank will officially list on the Ghana Stock Exchange (GSE) after successfully raising the minimum subscription needed to declare its Initial Public Offer (IPO) successful in order to list. The listing which will take place on Wednesday, 21st December, 2016 will see Access bank becoming the first Nigerian bank to list on the GSE. … Read more
Some of the biggest foreign investment and commercial banks operating in Britain paid an average tax rate of just 6 percent on the billions of dollars of profits they made in the country last year, a Reuters analysis of regulatory filings shows. That is less than a third of Britain’s corporate rate of 20 percent. … Read more
Managers of Bayport Financial Services have projected that a merger with CFC Savings and Loans will shoot the customer base of the company from 100,000 to 130,000. The merger which is yet to be approved by the Bank of Ghana(BoG) will move the company from financial services company into a savings and loans company. Speaking … Read more
The Citi Breakfast Show team on Thursday 15th December , 2016 concentrated on Members of Parliament’s profile. Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond. (Via: … Read more
With barely two weeks to Christmas day it appears the buzz that usually surrounds the holiday season is missing this time round. A visit to some major markets in Accra show business activities are yet to pick up a week after the country’s general and parliamentary elections. Checks by Citibusinessnews.com at the Dome market in Accra … Read more
The Bank of Ghana (BoG) is to still own a stake in the Agricultural Development Bank (ADB) despite the completion of the bank’s Initial Public Offer (IPO) early this month. It follows the inability of ADB to achieve a full subscription of its Initial Public Offer on Monday, December 5th, 2016. The Bank of Ghana … Read more
The Bank of Ghana (BoG) is to still own a stake in the Agricultural Development Bank (ADB) despite the completion of the bank’s Initial Public Offer (IPO) early this month. It follows the inability of ADB to achieve a on Monday, December 5, 2016. The Bank of Ghana currently possesses a 9.5 percent stake in … Read more
The Agricultural Development Bank (ADB) has raised about 326 million cedis in its Initial Public Offer (IPO). The bank was expecting to raise about 380 million cedis from the offer. A statement from ABD and copied exclusively to citibusinessnews.com indicated that, “the proceeds raised from the Offer was the sum of GHS325, 784,952.70 relative to … Read more
Checks by Citi Business News in some parts of the national capital indicate that business activities are slowly picking up. Most shops have resumed work today as compared to election day, which was on December 7, 2016. On Wednesday, December 7, 2016, most shops were closed at the Okaishie market centre and its environs. Same … Read more
The Bank of Ghana (BoG) has announced that it will present its final report of the proposed Minimum Capital requirement to the board of the bank by close of this year. The Bank of Ghana earlier this year met with the International Monetary Fund to design regulatory capital and the economic capital. Currently, banks are … Read more
Political parties in the Jaman North constituency in the Brong Ahafo Region have agreed to call off voting in the Jaman North constituency. On Wednesday morning, Afram Odiakopa, a reporter at Jenya radio told Citi News that voting delayed in all the polling stations in the constituency because executives of the National Democratic Congress in the area … Read more
As the elections get closer, one would expect that domestic aviation traffic will be on the rise as people move to their constituencies to vote across the country. Checks by Citi Business News has gathered that patronage of domestic air travel is low as compared to road transport services. A visit to some bus terminals … Read more