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    Deadline for debt exchange program moved to February 7 with new terms

    Government finally makes progress on Debt Exchange Program

    Policy Rate increased by 100 basis points; now at 28%

    Africa loses $88bn annually through illicit financial flows – Akufo-Addo

    AMA to roll out digital revenue collection system in March 2023

    We will not layoff Vodafone staff – Telecel

    Petrol to sell for GHS15 in February – IES

    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

  • TECHNOLOGY

    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

    Malagasy delegation completes tour of Ghanaian Fintechs and MFIs

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    $130bn and $170bn needed annually to bridge Africa’s infrastructural gap – Bawumia

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Nigeria’s national debt hits an all time as the country struggles with repayment

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

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HFC EGM fracas: players agree to hold EGM after AGM

bycitibusinessnews
March 9, 2015
in Banking And Finance, Business, Top Stories
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Citi Business News has learnt the much anticipated HFC Bank Extra Ordinary General Meeting (EGM) has been cancelled after an intervention from the Bank of Ghana.

[contextly_sidebar id=”BVeLw3FJIvFZZ96D1NSJH8S4OEy8dx9B”]According to Citi Business News sources, the Social Security and National Insurance Trust (SSNIT) which formally requested for the EGM has agreed to wait until the Annual General meeting of the Bank in April, 2015 to allow for the reconstitution of the Banks Board.

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This comes after an Appeals court last week dismissed a case brought before it by a shareholder of HFC bank seeking to stop the organization of the EGM.

Citi Business News has learnt two arbitrators Ishmael Yamson and Kwame Pianim appointed by the Central Bank managed to broker the deal, after meeting all directors of HFC Bank , representatives of SSNIT and other key stakeholders involved in the struggle for control of HFC Bank.

The various stakeholders are expected to sign onto the settlement deal today before, the Central Bank makes it public.
According to Citi Business News sources, one of the directors that was expected to be removed during the cancelled EGM Charles Ofori Acquah has resigned.

 

By: Rabiu Alhassan/citifmonline.com/Ghana

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