Author: Pius Amihere Eduku
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MTN extends fee waiver on up to GHS100 MoMo transfer by 3 more months
MTN has extended the fee waiver on its mobile money transfers of up to One hundred Ghana Cedis by three more months. The offer is now expected to end on September 30, 2020. “Mobile Money Limited has extended the fee waiver on MoMo on-net transfers up to Ghs100 daily till Sept 30, 2020. The extension…
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FNB finalises merger with GHL Bank
First National Bank Ghana has confirmed the conclusion of the merger with its subsidiary, GHL Bank. The merged entity will be known as First National Bank Ghana. According to a statement from First National Bank, the newly formed and strengthened entity will offer a portfolio of unique innovative financial solutions for retail, corporate and investment…
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BoG accepts less than 50% of bids in last dollar auction in June
The Bank of Ghana in its last auction of forex in June, received 33% of the total amount of dollars dealers bid for. The total bids were also about three times lower than the figure offered by the dealers. For the last auction in June 2020, the Forex Auction Committee of the Bank of Ghana…
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We are committed to sustaining food security amidst COVID-19 – CSIR
The Council for Scientific and Industrial Research, CSIR, says it is collaborating with allied institutions to improve food processing to ensure food security amidst the coronavirus pandemic. The assurance came as Ghana joined the world to marks the day of scientific renaissance on June 30, 2020. Ghana commemorated the day with its focus on food…
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We’ll keep checking fuel stations to protect consumers – COPEC insists
The Chamber of Petroleum Consumers, COPEC, has justified its decision to check the amount of fuel dispensed to consumers at various fuel stations. The Association of Oil Marketing Companies, OMCs, has criticized the act accusing COPEC of usurping the powers of the National Petroleum Authority, NPA, and the Ghana Standards Authority, GSA, which are mandated…
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Stock Exchange expels Liberty Securities & First Atlantic Brokerage Ltd from membership
The Ghana Stock Exchange has expelled Liberty Securities Limited and First Atlantic Brokerage Limited from the membership of the Exchange. According to the GSE, its decision to expel the membership of Liberty Securities Limited and First Atlantic Brokerage Limited is in view of their violation of some market rules. Per the decision, the two entities…
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We have GH¢1.35bn locked up in collapsed Microfinance, S&Ls – Fund Managers lament
The Ghana Securities Industry Association, GSIA, is appealing to the Ministry of Finance to urgently facilitate the payments of locked up monies estimated at 1.35 billion cedis, belonging to its members in the collapsed Savings and Loans and Microfinance Companies. The Association says the delay in accessing their funds is affecting onward payments to their…
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SEC upholds revocation of ‘Gold Coast Fund Management’s’ license; restores some and suspends others
The Securities and Exchange Commission, SEC, has sustained the revocation of the license of Blackshield Capital Management Limited, formerly Gold Coast Fund Management Limited following the completion of work by the Commission’s Administrative Hearings Committee. A circular, published on the website of the SEC said four other companies have had their revocations sustained after they…
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Over 170,000 businesses apply for GHS1bn stimulus package for SMEs – NBSSI
More than one hundred and ten thousand businesses have successfully completed their application for the government’s GHS1billion Coronavirus Alleviation Programme Business Support Scheme. This is a huge jump from the 14,000 businesses that registered in the first week. A statement from the National Board for Small Scale Industries, NBSSI, said this represents 65% of the…
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Inflation rises to 11.3% in May 2020 as food prices continue to go up
The continuous rise in prices of food items pushed Ghana’s inflation up to 11.3% in May 2020. This means that between May 2019 and the same period in 2020, the prices of items have increased by 11.3%. This figure is also 1.7 percentage points higher compared to the 10.6% inflation recorded in April 2020. The…