CLOSURE OF NIGERIAN SHOPS AT SUAME, KUMASI.
Nigerian shops at Suame,Kumasi have been shutdown by Ghanaians who sees Nigerians as a threat to theihr businesses in the country.
SNNIT CALLS FOR AN INCREMENT OF CONTRIBUTION RATE
Social Security and National Insurance Trust (SSNIT) has called for a review of the contribution rate of workers to enable it to sustain the pension scheme and to pay workers higher pensions. Recently, the contribution rate is 11% of basic salary but SSNIT wants it reviewed to 19.2%. The forum was organized by the Trade…
Ghana to assist Guyana following oil & gas discoveries
Ghana has made available free technical assistance to Guyana, following the that country’s discovery of oil and gas resources offshore. Speaking at a State Luncheon held in his honour, on Tuesday, June 11, as part of his official visit to Guyana, President Akufo-Addo indicated that Ghana, following the recent discovery by Aker Energy, can now…
LOOM: A SCAM OR A SAVIOR?
The idea of loom was quite obscure among Ghanaians until recently. It has become common among most Ghanaian youth as a peer-to-peer pyramid ponzi scheme, giving them the opportunity to make ‘quick money’. The scheme has gain popularity on most social media platforms all over the world with names such as loom circle, fractal mandala…
Depositors of 347 insolvent microfinance companies to receive payments today
Bank of Ghana’s appointed Receiver for the 347 insolvent and dormant microfinance companies, Eric Nana Nipah, will Friday start paying depositors of the companies. A statement sanctioned by the Receiver, however, clarified that only depositors whose claims have been validated and agreed will be paid. The move follows the release of funds by the government…
Revoke Interpol red alert on our boss – Menzgold appeals to gov’t
Troubled gold dealership firm, Menzgold, has appealed to government to revoke an Interpol red alert issued on its Chief Executive Officer, Nana Appiah Mensah. The firm said in a release that the unjustifiable Interpol arrest and continued detention of its Chief Executive Officer due to the red alert were impeding efforts to retrieve Menzgold’s locked up…
31 microcredit, 137 microfinance firms to remain operational – BoG
The Bank of Ghana (BoG) says about 137 microfinance and 31 microcredit companies are currently in good standing and would, therefore, remain operational in the country. This is after the BoG revoked the licences of some 386 insolvent microfinance and microcredit companies. This includes 192 microfinance companies having their licenses revoked with another 155 insolvent companies that have ceased…
Licences of 386 financial institutions revoked
The Bank of Ghana has revoked the licences of 386 insolvent microfinance and microcredit companies. This includes 192 microfinance companies having their licenses revoked with another 155 insolvent companies that have ceased operations also suffering the same fate. The Central Bank in a press release Friday also revoked the licences of 29 insolvent microcredit companies. BoG explained that…
Debt stock goes up ¢22bn in 4 months
The country ended March 2019 with total debt stock hitting ¢198 billion, the Bank of Ghana’s summary of financial and Economic Data has revealed. This was revealed after the Monetary Policy Committee of the Central Bank met to review the health of the economy as at May 2019. Since November 2018 that BoG last released its data,…
BoG bans pricing in foreign currencies
The financial sector regulator, Bank of Ghana (BoG), has prohibited the pricing, advertising and receipt or payment for goods and services that are contracted locally in any foreign currency. In a release issued and signed by Alethea Godson-Amamoo on behalf of the Secretary to the BoG, the central bank cautioned companies, institutions and individuals against…