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    Ghana’s inflation rate rises again; hits 31.7% in July 2022

    Fitch downgrades Ghana’s credit rating from B- to CCC

    Ghana Mines Workers’ Union threatens industrial action

    Farmerline begins ‘Support a Farmer’ initiative to provide fertilizer to farmers

    Ghana likely to secure US$3 billion from IMF for economic support

    Tax incentive for young entrepreneurs-opportunities and challenges

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    USAID Feed the Future Program provides funding to Agrihouse Foundation’s 1H1G Initiative

    Government disappointed by Standard & Poor’s downgrade rating

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    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

    Dr. Ampabeng advocates consolidation of road taxes into fiscal policy

    WAPCo commits to cleaner and reliable energy

    Government eyeing GH¢750m with new E-VAT policy

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    National AfCFTA Policy Framework and Action Plan launched to boost trade

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    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

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    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

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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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