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Monday, September 25, 2023
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    Ghana’s total exports decline by 9%

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    Excise tax amendment shows positive signs; rakes in GHS 140m 

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    Cedi depreciates against the dollar by 22.5%

    Financial sector withstood 2022 shocks; positive signs ahead – BoG

    Water shortage to hit parts of Accra; businesses to be affected

    Influx of Chinese tanker trucks will kill local businesses – Kwame Jantuah

    GRA fights off claims of harassing traders; calls for cooperation

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    Ghana’s total exports decline by 9%

    Cedi depreciates against the dollar by 22.5%

    Financial sector withstood 2022 shocks; positive signs ahead – BoG

    Water shortage to hit parts of Accra; businesses to be affected

    Excise tax amendment shows positive signs; rakes in GHS 140m 

    Ghana records over $200m trade surplus in two months

    Public debt hits GHS 575.5 billion; now 71.9% of GDP

    GEPA poised to achieve over $4bn target for non-traditional exports

    GRA fights off claims of harassing traders; calls for cooperation

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    Cedi depreciates against the dollar by 22.5%

    Financial sector withstood 2022 shocks; positive signs ahead – BoG

    Water shortage to hit parts of Accra; businesses to be affected

    Influx of Chinese tanker trucks will kill local businesses – Kwame Jantuah

    GRA fights off claims of harassing traders; calls for cooperation

    Hanno Barkhoff joins Kempinski Hotel Gold Coast City Accra as General Manager

    WTO Director-General calls for ratification of Fisheries Subsidies Agreement

    B5 Plus is an iconic testament of success of 1D1F initiative – K.T. Hammond

    BoG advised me to streamline Menzgold operations – NAM 1

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    Genius IT Foundation achieves STEM.org accreditation

    Pharmaceutical Society charged to utilize AI to transform industry

    Apple says iPhone and iPad apps will show up on the vision OS App Store from the get-go

    China launches $41 billion fund to accelerate semiconductor industry

    Digital marketing: Event managers urged to explore growth opportunities

    Govt. urged to commit more investments to enhance AI competencies

    Stakeholders in digital ecosystem charged to do more to protect child privacy

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    Ban on cryptocurrency still in force – Finance Ministry warns

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    Ofori-Atta commends G20 for AU’s inclusion, urges common voice

    Nine ventures announced for Africa Money and DeFi Summit investment showcase

    African Union to launch regional credit rating agency in 2024

    New study reveals alarming food access disparity affecting 650 million Africans

    Global food price index declines in August

    ECO currency challenges: Technical committee attributes delays to external shocks, others

    African leaders emphasize in-continent processing of mineral wealth at climate summit

    Indian investors commit $14 billion to Nigeria, to strengthen several Nigerian sectors

    African Development Bank announces $25 billion pledge to boost climate finance in Africa

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Fund management customers threaten to vote against Akufo-Addo over unpaid funds

byMinna Dablu
June 30, 2020
in Banking And Finance, Top Stories
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Members of a group calling itself the Coalition of Aggrieved Fund Management Customers have given government by close of July to pay all locked up funds due them or face their wrath.

In March this year, the Deputy Director-General of the Securities and Exchange Commission, SEC, Paul Ababio, told Citi Business News investors of the collapsed fund management companies would soon have access to their funds when their claims are successfully validated.

In an interview with Citi Business News, Mr. Ababio assured that a process to validate the claims submitted by investors is ongoing and when completed, payments will commence.

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The over 200 customers who demonstrated in Kumasi have therefore threatened to vote against the governing New Patriotic Party if they are not paid before the 2020 general elections.

At a news conference, Spokesperson for the group, Charles Nyame said, “We wish to remind the government, to know that if the energy crisis and the Teacher trainee allowances scrapped by the Mahama government and the Nurses trainees’ allowances also scrapped by the Mahama government could contribute to his defeat in 2016, even though the energy crisis was not deliberate, then Nana Addo Dankwa Akufo-Addo, should also know that history will repeat itself in the 2020 elections.”

The group also wants government to pay in full funds of all affected customers as has been done for customers of collapsed banks and savings and loans companies.

“We are calling on the regulator, to come out clearly to inform us of the payment plan for customers who fall under institutions whose licenses are sustained in the revocation. In an interview with Bernard Avle, Government says it intends to support customers with part payment of our funds, but that will definitely not be countenanced. We need full payment of our investment as was done for our colleagues in the banking sector,” Mr. Nyame noted.

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