Thursday , January 28 2021

Business

Depositors of 347 insolvent microfinance companies to receive payments today

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 …

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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 …

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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 …

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Licences of 386 financial institutions revoked

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 …

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Debt stock goes up ¢22bn in 4 months

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 …

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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 …

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BoG to get tough on currency import, export violators

Ernest-Addison

The Bank of Ghana (BoG) has warned of severe consequences for persons who flout its rules concerning the importation and exportation of foreign currencies. In an announcement to the public, the central bank stated that it has powers under the Foreign Exchange Act, 2006 (ACT 723) to make rules governing …

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1D1F: 45 factories currently operational – Ahomka-Lindsay

Ahomka-Lindsay-Deputy-Trade-Minister-2

There are currently 45 of the One District One Factory projects operational out of 181 projects already on the drawing board, according to Deputy Minister of Trade and Industry, Robert Ahomka-Lindsay. Aside from 22 of the 181 projects, which are under construction, the remaining projects are set to commence implementation before …

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Gaming Commission suspends SAFARIBET, warns public against LOLLIBET

The Gaming Commission has suspended indefinitely, sports betting Company, Safaribet Sports Betting. A statement from the Gaming Commission urged the public not to conduct any business with the betting company “until further notice.” “Gaming Commission of Ghana wishes to bring to the notice and attention of the general public that …

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Power: Ghana paying ‘almost $500m annually for excess capacity’ – Former GNPC CEO

Former Chief Executive of the Ghana National Petroleum Corporation (GNPC), Alex Mould, has revealed the country’s power generation capacity is in so much excess it has become a liability. Commenting on the recent power cuts in parts of the country on the business edition of current affairs programme, PM Express, …

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