Ghana vies for ARSO presidency – Citi Business News
Ghana is contesting for the presidency of the African Organization for Standardization, the intergovernmental body in-charge of harmonizing standards and conformity procedures to facilitate seamless intra-trading. The furthest Ghana had been in the leadership of ARSO in the organization's 44-year journey is the treasury portfolio, despite being a member-state since its formation in Accra in 1977. The tenure of the next ARSO presidency will run between 2022 and 2025.
MasterCard Foundation, Africa CDC to acquire vaccines for Africa with $1.3 billion – Citi Business News
The Mastercard Foundation has announced that it will deploy $1.3 billion over the next three years in partnership with the Africa Centres for Disease Control and Prevention to save the lives and livelihoods of millions of people in Africa and hasten the economic recovery of the continent. The new partnership builds on the efforts of the COVID-19 Vaccines Global Access facility, the COVID-19 African Vaccine Acquisition Task Team, and the global community to expand access to vaccines across Africa. The initiative builds on an earlier collaboration between the Mastercard Foundation and the Africa CDC to expand access to testing kits and enhance surveillance capacity in Africa.
Grace Anim-Yeboah urges MSMEs – Citi Business News
Speaking on the theme, 'Doing business in Ghana as an MSME' on Citi TV, as part of this year's virtual fora of the Citi Business Festival, Madam Anim-Yeboah explained that though most MSMEs view access to credit as their biggest challenge, the actual challenge they need to tackle is capacity building. The Citi Business Festival is an extensive program of business events and on-air activities providing inspiration, business ideas, and information to persons who are starting, building, or growing their businesses. It is also powered by Citi FM, Citi TV, and Ghana's most comprehensive business news website, www.
Registrar General to delete names of companies that fail to file returns by June 30 – Citi Business News
The Registrar-General, Jemima Oware, says companies that fail to file their returns by the end of June 2021, risk having their names struck out of the list of businesses in Ghana. The virtual business fora of the Citi Business Festival will be live on Citi TV every Tuesday from 11:00 am to 1:00 pm for the month of June. The Citi Business Festival is an extensive program of business events and on-air activities providing inspiration, business ideas, and information to persons who are starting, building, or growing their businesses.
#CitiBusinessFestival: MSMEs exempted from taxes must still file returns
A Senior Lecturer at the University of Ghana Law School, Dr. Abdallah Ali-Nakyea, has advised Micro Small and Medium Enterprises to file annual returns on their income to the Registrar General's Department even when exempted from paying taxes. MSMEs are required to pay taxes to facilitate development initiatives, but young entrepreneurs engaged in manufacturing, horticulture, ICT are exempted from paying taxes for the first five years. Mr. Ali-Nakyea on the on-air series of the Citi Business Festival on the Citi Breakfast Show said filing returns on income even during tax exemptions will keep the Ghana Revenue Authority informed on the effects of the exemptions and the way forward.
#CitiBusinessFestival panelists outline strategies for 'Doing Business in Ghana as an MSME' – Citi Business News
Five speakers billed for the 2nd edition of the 2021 Citi Business Festival's virtual forum gave varied opinions on effective ways of doing business in Ghana as a Micro Small and Medium Enterprise. It is also powered by Citi FM, Citi TV, and Ghana's most comprehensive business news website, www. The Citi Business Festival is an extensive program of business events and on-air activities providing inspiration, business ideas, and information to persons who are starting, building, or growing their businesses.
Retrieve our locked-up funds – Customers of TTL Capital to SEC – Citi Business News
Over twenty-four thousand investors of the First Fund Investors Association have issued a two- week ultimatum to new fund managers, TTL Capital, to pay their locked-up funds of about GHS170 million or face their wrath. Addressing the media during a press conference, the spokesperson for the First Fund Investors Association, Michael Kwablah called on the Securities and Exchange Commission, SEC, to as a matter of urgency intervene and retrieve their funds. Per the SEC update, directors of six Mutual Funds including FirstFund, then operated by First Banc Financial Services, announced TTL Capital as new managers for the defunct First Fund Limited.
Mastercard, UNICAF offer cardholders 75% scholarships for internationally recognized degrees – Citi Business News
Unicaf, the leading online and on-campus learning platform, has entered into a two- year partnership with Mastercard to offer its premium cardholders 75% scholarships for online and on-campus studies at Unicaf's partner universities. A statement issued by Unicaf stated that starting, first quarter of 2021, Mastercard Gold, Platinum, World and World Elite cardholders across 12 countries in Africa, will be able to select from a wide range of high-quality degree programs offered by Unicaf's partners and only pay 25% of the total fees in flexible manageable monthly instalments over the period of the program. Mastercard cardholders an international perspective and valuable insights into European, Asian and American professional practices.
World Bank appoints Senegal's Makhtar Diop as Managing Director of IFC – Citi Business News
World Bank Group President David Malpass has announced the appointment of Makhtar Diop as Managing Director and Executive Vice President to head the International Finance Corporation, an arm of the World Bank Group that advances economic development and improves the lives of people by encouraging growth of the private sector in developing countries. Diop served twice as a World Bank Country Director - for Brazil and for Kenya, Eritrea, and Somalia. He served as the World Bank Director for Finance, Private Sector & Infrastructure in the Latin America and Caribbean region.
WTO Director General outlines plans to rejuvenate global trade – Citi Business News
The newly appointed Director General of the World Trade Organization, Ngozi Okonjo-Iweala, has pledged to among other things, facilitate the lifting of export restrictions among member countries to enable easier movement of goods during this COVID-19 period. Global trade recorded a 5% drop in the third quarter of 2020 compared with the same period last year, according to the United Nations Conference on Trade and Development's new Global Trade Update published in October last year. The newly appointed Director General of the World Trade Organization, Ngozi Okonjo-Iweala, believes there should be temporal rules that can ease the prohibitions on imports and exports among countries in this COVID-19 era.
WTO Appoints Nigeria's Ngozi Okonjo-Iweala as First Female Leader – Citi Business News
Ngozi Okonjo-Iweala has been appointed the new chief of the World Trade Organization. Born in Nigeria, Okonjo-Iweala graduated from Harvard University in 1976 and then earned a PhD from MIT. She then became the first woman to take on the Nigerian finance ministry and the foreign ministry too. Her vision for the WTO. The WTO is at a crossroads after many countries seemed to take a step back from long-standing norms governing international trade.
Ghana-UK finalize negotiations on new interim Trade Partnership Agreement – Citi Business News
Ghana and the UK have successfully completed negotiations on the new interim Trade Partnership Agreement between the two countries. The new agreement will take effect immediately both countries finalize on their internal procedures to accommodate the concessions. As part of the new agreement, Ghana will get duty-free and quota-free access to the UK market while UK exporters to the Ghanaian market get preferential tariff reductions.
Go City Cycle Share & Tour promotes bike-sharing culture in Ghana – Citi Business News
In Ghana, local communities in the Northern and Savannah regions where temperatures have been fast-rising, are already feeling the devastating impact of climate change. While Ghana has a long way to go in its fight against global warming, the founder of Go City Cycle Share & Tour, Mark Boadi is leading the charge with his bike-sharing activities. Mark took his sustainable mobility advocacy a step further by creating a community of people who cared not only about the environment but also interested in immersing themselves in the local culture.
GSS begins training for 2021 Population and Housing Census national trainers – Citi Business News
The final phase of training of National Trainers for the 2021 Population and Housing Census commences today, Thursday 8th April 2021. National Trainers are crucial to the success of the 2021 PHC training strategy which aims for quality standardised training at all levels and in the selected training centres. The National Trainers will train the Regional Trainers who are also responsible for training the approximately 75,000 Field Officers ahead of the data collection for the Census.
Techgulf organises forum on pushing Ghana's digital economy – Citi Business News
In a world where technology seems to be permeating every facet of life, stakeholders in Ghana are intensifying collaborative efforts to push the government's vision of transforming Ghana into a leading digital hub in Africa and beyond. It is for this reason that Techgulf Ghana Limited is organizing a two-day digital forum to engage in dialogues focused on fast-tracking the growth of the country's digital agenda across various sectors of the economy. The Techgulf Digital Forum has brought together resource persons, legislators, and seasoned business executives from Ghana and the United States of America to have discussions on issues related to building business relationships and partnerships in the digital economy.
Businesses charged to embrace digitization to stay relevant – Citi Business News
The inability of businesses to incorporate digitization in their business models will create a void with dire consequences for their survivability post-COVID-19. According to him, in spite of the achievements introduced by government towards building a financially inclusive society through digitisation, businesses need to embrace digital solutions to compete and survive. Speaking at the launch of the 5th edition of the Ghana CEO Summit, Dr. Maxwell Opoku Afari charged businesses to be firm in the pursuit of their ideals and position themselves properly in order to stay relevant.
Stakeholders in digital space call for setting up of data centre infrastructure – Citi Business News
Stakeholders in Ghana's digital space are asking for a data centre in Ghana to keep proper records of the country's critical information for current and future use. Until that plan materializes, concerned parties in the digital space are intensifying calls for the data centre to be set up as soon as possible. The Techgulf Digital Forum, which brought together the stakeholders for a conversation, was under the theme, 'Operationalizing Ghana's Digital Transformation Agenda'.
There'll be systematic power outages in May
Ghanaians would have to brace up themselves for more power outages in May 2021. Ghanaians have in the past few months been experiencing intermittent power outages, sparking fears that the country may be returning to the days of unstable power supply popularly known as 'dumsor. The power transmission company also in a statement issued on Wednesday, March 31, 2021, called for calm saying, it has no intention of publishing a power rationing timetable.
Timing for proposed increment in electricity tariffs wrong
The Chief Executive Officer of the Consumer Protection Agency, Kofi Kapito, says any possible increment in electricity tariffs would be ill-timed. The last increment in electricity tariffs was in October 2019. The Public Utilities Regulatory Commission oversaw a 5.94% increment in the tariffs.
Olea M&G Insurance Brokers Ltd unveils new platform, ‘mybestquote.com' – Citi Business News
Ghana's first insurance broker, Olea M&G Insurance Brokers Limited, formerly known as Marine & General Brokers Limited, has officially launched a digital platform where insurance transactions can easily be done. The Managing Director of Olea M&G Insurance Brokers Limited, Stephen Kwarteng Yeboah, at the event explained that the platform was necessary in order to stay relevant in this era of technological advancements. The Deputy Commissioner of Insurance, Michael Kofi Andoh, on his part, urged other insurance companies to emulate the steps of Olea by coming up with creative ways of doing business.