Category: General
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Gov’t can’t pay customers of collapsed S&Ls and microfinance firms in 2020 – Mahama
Former President John Mahama says the government has no money to pay all depositors of the collapsed Savings and Loans companies as well as microfinance companies their locked up funds this year despite a directive by President Akufo-Addo to the Ministry of Finance and the Bank of Ghana to pay every single customer. Mr. Mahama…
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YIEDIE extends opportunities youth in construction sector
The Youth Inclusive Entrepreneurial Development Initiative for Employment (YIEDIE) has exceeded its target of creating opportunities for the economic disadvantaged youth in Ghana’s construction sector. The five-year project which ends in March this year, set out to train 23,700 youths but ended up training 25,479 with technical and entrepreneurial skills in the construction sector. Out…
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Cleanup of financial sector responsible for current economic stability–BoG
The Bank of Ghana (BoG) says the current financial stability being experienced in the country is as a result of the prudent way it undertook the financial sector clean. Between 2017 and 2019, the central bank embarked on an exercise that saw over 420 financial institutions including banks, microfinance companies, as well as savings and…
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PEF urges payment of locked up funds after assurance from Prez Akufo Addo
Chief Executive Officer of the Private Enterprise Federation, Nana Osei Bonsu has charged President Akuffo Addo to follow up with the assurance of ensuring the central bank settles businesses who have their monies locked up in collapsed financial institutions. He says the government must, as a matter of priority, ensure locked up cash is within…
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Four NIA officials in Ashanti region arrested over malpractices
Some four officials of the National Identification Authority and another person have been arrested by the Ghana Police Service for engaging in a number of malpractices in the mass registration exercise in the Ashanti region. A statement issued by the NIA said the arrests, which occurred between 3rd and 6th January 2020, were the result…
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Ofori-Atta to raise over US$3 billion in diasporan bond
The Ministry of Finance is hoping to raise over US$3 billion in a Diasporan bond through the creation of the Diasporan Savings and Investment account. The account which will also be known as the African Sankofa Account will enable people of African descent living outside the continent to lend to the government of Ghana for…
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Ghana rice to have special identification stickers
Rice millers in the country have hinted that moves are being initiated to get special identification stickers to differentiate Ghana rice from those imported. The Convener of the Rice Millers Association, Yaw Adu Poku, who made this known to Citi News said the move is also to check unwholesome or fake Ghana rice that may be on…
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Allianz Africa announces strategic partnership with Ethiopian Airlines
Allianz Africa and Ethiopian Airlines enter a strategic partnership which will see both companies collaborate in 5 countries: Cameroon, Congo, Ghana, Kenya, and Nigeria. The members of the Ethiopian Airlines “ShebaMiles” Frequent Flyer program will now benefit from a variety of insurance products offered by Allianz Africa, including Home, Motor, Travel, Life and Health. The…
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Menzgold to begin disbursement of locked up funds from next Friday
Troubled gold dealership firm, Menzgold Ghana Limited says it will from next Friday, December 27, 2019, begin paying customers their locked up investments. The company since its collapse in 2018 following a suspension order from the Securities and Exchange Commission (SEC) has been unable to refund monies invested by customers. In a statement issued on…
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Stakeholders urged to support women in shea value chain production
Stakeholders in the value chain of shea production have been asked to provide the necessary support for women in the industry. While hundreds of rural women in Northern Ghana are engaged in the industry, their poverty levels have not improved because they earn very little from it despite the high commercial value of the commodity.…