Author: Bobbie Osei
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Mitigate impact of microfinance companies clean-up on informal sector — Dr. Lord Mensah
Senior lecturer of the Department of Finance at the University of Ghana Business School, Dr. Lord Mensah, has called on the Bank of Ghana to as a matter of urgency put in place measures to ensure the recent clean up of the microfinance does not put a strain on the informal sector. According to Financial…
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Policy holders with ESICH Life Assurance to access claims soon
Policy holders with ESICH Life Assurance should expect to receive part of their locked up claims in the next 2 to 3 months. That is according to the regulator for the insurance sector in Ghana, the National Insurance Commission (NIC). The NIC back in October 2018, moved in to get customers of ESICH Life Assurance…
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Gov’t can’t pay full principal and interest to Microfinance customers – Financial Economist
A Financial Economist Dr, Lord Mensah has expressed doubt about the ability of the receiver of the now defunct 347 microfinance companies, to be able to pay all the affected depositors their full principals in addition to their interests. The Bank of Ghana (BoG) had earlier indicated that it had secured about one GHC 1 billion to…
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Consult extensively to ensure Ghana benefits from AfCFTA – Dr. Graham
The Third World Network, a pan-African research and advocacy organisation has charged government to exhaust all avenues for consultation with key stakeholders in the economy, to ensure that Ghana does not lose out following the coming into force of the African Continental Free Trade Area agreement on May 30, 2019. Ghana’s Parliament in April 2018…
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Gov’t looking for money to clean-up Savings and Loans sector next – Nana Otuo Acheampong
Following the recent clean-up exercise in Ghana’s microfinance sector, Citi business News is learning that government is preparing to make money available for the Bank of Ghana to start cleaning the Savings and Loans Sector. Last week the Bank of Ghana announced the revocation of the licences of 192 insolvent microfinance companies. In addition, licenses…
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Stakeholders call for better collaboration to ensure success of ECOWAS Brown Card Scheme
Stakeholders in the insurance sector in the West African Sub-region have called for greater collaboration amongst the different ECOWAS Brown Card secretariats to ensure prompt payment of claims. 37 years after the signing of the ECOWAS Brown Card Insurance Scheme Protocol, some players have raised concerns about the difficulty in settling claims under the ECOWAS…
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Be more vigilant to protect government’s revenue – Mining Stakeholders
Two former Chief Executive Officers of the Minerals Commission have warned that successive governments will continue to lose revenue from the mining sector if the appointment of directors to boards of mining companies continues to be politicized. The Vice President, Dr. Mahamudu Bawumia in May last year strongly indicated that government will not accept the…
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Bulk of exports responsible for Ghana’s trade surplus coming from foreign entities — Economist
Economist Professor Godfred Bokpin is warning that the full benefits of the recent trade surpluses that Ghana has been recording, will not be enjoyed if the local content contribution to Ghana’s export figures is not improved. According to Professor Bokpin, Ghana’s exports are currently dominated by the activity of foreign firms, especially in areas like…
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Ghana lost US$105 million to cyber-crime in 2018 — CID
Latest figures from the Cyber-Crime Unit of the Criminal Investigations Department of the Ghana Police Service has shown that money lost to cyber fraudsters increased from US$35million in 2016 to US$105million in 2018. Dr. Gustav Yankson, Director of the Cybercrime Unit of the Criminal Investigation Department, Ghana Police Service who revealed this said it added…
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Find out why Exxonmobil, BP pulled out of bidding rounds–ACEP demands
The Africa Center for Energy Policy (ACEP) has charged the Ministry of Energy to undertake some serious introspection to find out why big companies like ExxonMobil and British Petroleum, (BP) pulled out of the competitive bidding process for the 3 oil blocks put on offer by the Government. Out of the 14 companies that were…