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Fake products in construction industry must be checked—YIEDIE


As the construction industry experiences a boom in Ghana, the likelihood of substandard materials being used for some of the projects also rises. That’s according to the Project Director for the Youth Inclusive Entrepreneurial Development Initiative for Employment (YIEDIE), Kafui Mills-Odoi. She is of the opinion that the establishment of a Construction Industry Development Authority-CIDA, will go a long way ...

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MTN begins review of IPO applications

Selorm Adadevoh - MTN Ghana CEO

MTN has announced that it has commenced collating shares for its Initial Public Offering (IPO). The telecom company on Friday (August 3, 2018) said in a statement that it is currently reviewing the applications. “Following the closure of the IPO, the applications received are currently being reviewed and collated for allotments to commence,” the statement said. MTN opened its IPO ...

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Surfline’s service restored after three-day black out


Surfline Ghana Limited has fully restored internet services to consumers after a blackout for nearly a week. This came as the National Communications Authority (NCA) said it had intervened in the impasse between Glo Ghana Limited and Surfline Ghana. The two companies were said to have been involved in a tussle that resulted in the cut to internet connectivity to thousands of ...

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Some shareholders of uniBank sue Bank of Ghana

Dr. Ernest Addison - BoG Governor

Shareholders of embattled unibank have sued the Bank of Ghana for cutting short its moves to acquire shares of adb. According to the plaintiff the decision taken by the Bank of Ghana was “arbitrary, capricious and inconsistent”. The shareholders are Belstar Capital Limited and Starmount Development Company Limited. The suit follows assertions made by the governor of the Bank of ...

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Gov’t to withdraw new Ameri deal

Prez Nana-Addo-620x330

Government is preparing to withdraw the new Ameri Deal. The move is to enable government make some changes to the agreement before it will be put before parliament again. This is expected to happen after parliament returns from recess. The minority group in parliament yesterday described the new Ameri deal as bad and asked government to cancel it. Addressing a ...

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ESLA Bond Rated as the Best in Europe, Middle East and Africa


The 2017 Europe, Middle East, Africa (EMEA) Finance Achievement Awards has awarded Ghana’s ESLA Bond Transaction as the best restructuring deal last year. ESLA Plc is the institution established for purposes of raising money to clear the outstanding energy sector debts. The ESLA Bond transaction, is part of nine transactions across EMEA that was recognized in various categories at this ...

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Access Bank meets GHS400m capital requirement

Kris Ifeanyi Njoku, Access Bank

Access Bank Ghana has met the new minimum capital requirement set by the Bank of Ghana (BOG) ahead of the stipulated deadline in December. This makes Access Bank the first among Banks requiring to raise the new capital of GHS 400million set by the Central Bank. The announcement comes after the Bank completed its Rights Issue, which ended on July ...

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Banking ‘rot’: Issues of criminality must be addressed – Economist


An economist and the Policy Director at the Trades Unions Congress (TUC), Dr. Kwabena Nyarko Otoo, does not want the issues of criminality to be glossed over in the assessment of the recent collapses of five local banks. Three of the five banks consolidated under Consolidated Bank Ghana Limited by the Bank of Ghana; Sovereign Bank, The Beige Bank and Construction ...

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The 5 CEOs/MDs behind the ‘collapsed’ banks


The Bank of Ghana on Wednesday August 1, 2018, announced that it has consolidated five domestic banks into what it calls the Consolidated Bank Ghana Limited. The five banks are uniBank, Royal Bank, Sovereign Bank, Beige Bank and the Construction Bank. Below are the Chief Executive Officers and Managing Directors of the five banks that have been ‘merged’ by the ...

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Fuel prices to remain stable in August—IES


Prices of fuel are expected to remain unchanged for the first pricing window of August. This, is according to the Institute of Energy Security (IES). The institute in the last pricing window in July predicted a stability in the price of fuel. IES is however attributing the stability to the marginal reduction in Brent crude oil from a previous average ...

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