Author: Pius Amihere Eduku
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SEC commences forensic investigations into 21 investment firms
The Securities and Exchange Commission (SEC) has disclosed that it is currently conducting a forensic audit into the operations of about twenty companies within the securities market. Deputy Director-General of the SEC, Paul Ababio tells Citi Business News the exercise should inform the next line of action in eliminating non-compliant companies and protect investor funds.…
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TOR to resume full refinery status in 2020
The Tema Oil Refinery, TOR, should return to its full operational capacity for refining crude oil by the first quarter of 2020. This should be made possible with the replacement of one of the company’s furnaces which has impacted operations for about two years now. The latest assurance follows efforts by the managers of the…
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Stanchart launches SC keyboard on banking app
Standard Chartered has launched a Social Banking Solution, SC Keyboard as part of its digital drive. The feature is part of the Bank’s Full Digital Bank on Mobile – SC Mobile and allows the Bank’s customers to access a variety of financial services from within any social or messaging platform without having to open the…
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Stock market’s bearish performance may not rebound soon – Databank CEO
The stock market’s bearish performance may not witness any significant turnaround for the remainder of this year considering the seeming low investor confidence in the financial sector. That is the comment from the Group CEO of Databank, Kojo Addae-Mensah. The Ghana Stock Exchange witnessed a negative 0.29 percent growth last year. This is an unfavourable…
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Dangote’s oil refinery not a threat to Ghana’s TOR – Analysts
Analysts in the oil and gas sector have downplayed any significant impact of a refinery by Dangote on the operations of the Tema Oil Refinery, TOR. They say the development though laudable, may not be able to meet the demand for refined products which makes it necessary for TOR to work to sustain its operations.…
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Fuel under-delivery: More OMCs to compensate consumers
More Oil Marketing Companies (OMCs) which had retail outlets which were cited as shortchanging consumers are to replenish the quantities to their respective customers within the coming days. That is the assurance from the Chamber of Petroleum Consumers, COPEC. The move follows series of negotiations and the need to give value for money despite complying…
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Fire Service advocates balconies in high rise buildings
The Ghana National Fire Service (GNFS) has impressed upon corporate institutions seeking to build high rise structures to incorporate balconies to aid in evacuation exercises in cases of fire incidents. The Service believes the move will reduce fatalities at such facilities when fires occur. Divisional Officer Grade III at the Greater Accra Fire Service, Eric…
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Recapitalisation will sustain claims payments – NIC
The National Insurance Commission (NIC) has expressed its resolve to increase genuine claims payments by industry practitioners in the country. The Commissioner of Insurance, Justice Yaw Ofori believes the move should boost uptake of insurance products in Ghana by the majority who are uninsured. The seeming disinterest by insurance companies to pay claims has partly…
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Ghana, Cote d’Ivoire to pay 70 percent of floor price to cocoa farmers
Cocoa farmers in Ghana and Cote d’Ivoire will henceforth be entitled to a minimum of seventy percent of the agreed floor price. By this, farmers are expected to receive 1,820 dollars per tonne of cocoa beans sold granted the floor price is held constant at 2,600 dollars. In addition, the farmers will henceforth be protected…
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GIPC kicks off strategic partnership with counterpart agency in Malta
The Ghana Investment Promotion Centre (GIPC) and its counterpart agency in Malta, the Malta Enterprise have signed a Memorandum of Understanding which should culminate in the creation of a three year strategy covering areas of mutual interest. The agreement will also see the establishment of a strategic think tank comprising officers from the two institutions.…