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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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Court throws out ADB’s IPO motion

bycitibusinessnews
July 28, 2015
in Banking And Finance, Business, Top Stories
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Citi Business News has gathered  an Accra High Court on Friday July 24,2015 threw out a motion filed by the Agricultural Development Bank (ADB) seeking to overturn the injunction placed on the bank’s Initial Public Offering (IPO).

[contextly_sidebar id=”KeTJvw5JC1e003eoCDgXnFYsQ4WnmMlT”]The Industry of Commerce and Finance Workers earlier secured an interim injunction order from an Accra High Court against the Agricultural Development Bank’s IPO.

The court granted a 10-day interim injunction to allow for a substantive case to be heard.

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Lawyer for UNICOF Charles Bawaduah in an interview with Citi Business News said “ADB filed a motion to discharge the ten day injunction which we had filed at the court and when the matter was called the ten day had already elapsed so in the view of the court there was no injunction pending for which the court needed to discharge that matter.”

Meanwhile an Accra High Court will on Thursday July 30,2015 hear the application for an interlocutory injunction on the Agricultural Development Bank (ADB).

The injunction which was filed by UNICOF is to prevent ADB from resuming its Initial Public Offering (IPO).

This comes after UNCOF earlier worn a 10 day order of interim injunction in court over the IPO which ended last week.

Meanwhile the National Labour Commission will today also hear the application for a review brought before it by UNICOF against the Standard Chartered Bank’s move to lay off some workers this month.

Today’s hearing will see the commission rule on the matter after the NLC had ordered Standard Chartered Bank to halt moves to lay off the workers of the bank on their redundancy list.

But Citi Business News can also report that the commercial division of an Accra High Court will also hear the application for interlocutory injunction brought before it by UNICOF seeking to halt the redundancy plans of Standard Charted until the review application before the National Labour Commission is heard and ruled on today.

–

By:  Norvan Acquah – Hayford/citifmonline.com/Ghana

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