Category: Government
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Don’t deal with cryptocurrency companies – SEC warns Ghanaians
The Securities and Exchange Commission (SEC), has indicated that it has commenced thorough research into cryptocurrency-related activities in the country following fears of a cryptocurrency scam. In the meantime, it has urged Ghanaians “to desist from engaging in these crypto entities.” “If you chose to go there, you are on your own,” the Deputy Director General of…
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Tamale: Angry Gold Coast customers demand payment of locked up cash
Some customers of the Tamale branch of investment company, Gold Coast Securities, are calling on the Securities and Exchange Commission, SEC, to help them retrieve their investments, which matured in the last quarter of 2018. The entity, which is a subsidiary of Groupe Nduom, chaired by Dr. Papa Kwesi Nduom, was being investigated by the Economic and…
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Article:The banking crises and rights of employees
Introduction Following recent turmoil in the Banking Industry, some banks have had to merge and others acquired in the last two years. This development has had dramatic consequence on employment. This occurred on the heels of the Bank of Ghana’s announcement of an increase of the minimum capital requirement for banks from Ghc 120million to…
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UT, Capital bank debtors given 3 month ultimatum to clear debts
Loan defaulters of defunct UT and Capital banks have till the end of March this year – 2019 to redeem their indebtedness to the banks. A newspaper publication lists ninety-one (91) companies and individuals who owe the two banks. The development comes at a time where some recoveries have been made which is being used…
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SEC, EOCO investigate 3 suspected online investment companies
Citi Business News has gathered that the Securities and Exchange Commission (SEC) has begun investigations into at least three online investment companies that are operating illegally. These companies are said to be selling investment packages to Ghanaian consumers without any physical presence in the country. Although the Commission will not immediately provide the names of…
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GACL Board still in place as MD is removed from office
The Ghana Airports Company Limited says its board Chaired by Madam Oboshie Sai Coffie is still in place. It comes after the removal of the former Managing Director of the company, John Dekyem Attafuah from office last Friday. A statement issued by Madam Oboshie Sai Coffie also said that Mr. Robert Sackey Tagoe, the Group…
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Tullow Ghana hopeful of wining oil block in bidding process
Tullow Oil says it is one the best suited companies to explore the 5 oil blocks that were put on offer by government during a bidding process last year. That’s according to the Managing Director of the company Kwaku Awotwi. The President, Nana Addo Dankwa Akufo-Addo, on October 15, opened the blocks up for competitive tendering…
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Former workers of Consolidated Bank given Provident Fund, Pension contribution
Former workers of the five consolidated banks, Unibank, Beige, Royal, Construction and Sovereign banks may be heaving a sigh of relief as Citi Business News has gathered the workers can now access their tier 3 pension contributions, and Provident Funds. The Provident Fund is money the workers voluntarily contributed personally to a scheme which was…
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Key tourist sites to receive facelift—Ghana Tourism Authority
The Ghana Tourism Authority (GTA) has announced that key tourist sites in the country will receive a face lift within the short to medium term this year. The announcement comes at a time the CNN has ranked Ghana forth out of nineteen countries as top destinations in the world to visit this year. For years,…
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4 telcos seek redress over NCA fine at Electronic Communications Tribunal
Four telecommunication operators, Airtel-Tigo, Glo, MTN and Vodafone which were fined by the National Communications Authority’s (NCA) for poor service delivery, have decided to seek redress from the Electronic Communications Tribunal. The independent tribunal allows telecos to appeal against decisions or orders made by the regulator, the National Communications Authority (NCA). The four telecos are seeking…