Category: News
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Springfield Group recognized by London Stock Exchange Group
Ghanaian energy giant, Springfield Group’s contribution towards the development of Ghana and Africa’s energy requirements continues to be recognized. Springfield was recognized and listed by the London Stock Exchange Group (LSEG), along with a handful of others, in LSEG’s Companies to Inspire Africa in 2019 Report launched in London yesterday. The selection was made from…
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“I was asked to resign from office by Finance Minister”—Former Deputy BoG Governor
Former Second Deputy Governor of the Bank of Ghana, Dr. Johnson Asiama has rejected assertions that he resigned from the Bank of Ghana (BoG) due to his involvement in embattled gold dealership firm Menzgold. Dr. Asiama in reaction to an alleged statement made by a Vice Chairman of the NPP, Omarie Wadie that Dr. Asiama…
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DVLA to prosecute offenders for defrauding public with new e-system
The Driver and Vehicle Licensing Authority (DVLA) has warned that it will prosecute anyone who attempts to defraud the public using its new e-online registration system. The system, which has been in place since January 4, this year is aimed at simplifying the processes of registering car. This is aimed reducing long hours spent at…
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Tullow records 1.8 billion dollars in revenue for 2018
Tullow Oil’s 2018 revenue reached 1.8 billion dollars, according to its January Trading Statement released on Wednesday, January 16, 2018. The oil company also recorded additional proceeds of 0.2 billion dollars from Corporate Business Interruption insurance. Again, the Trading Statement said that Tullow’s net debt at the end of 2018 is estimated at 3.1 billion…
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EOCO delaying arrest of cryptocurrency scam operators—Victims allege
Victims of cryptocurrency scam, Global Coin Community Help are accusing government of dragging its feet in addressing their grievances. According to them, although their issue is similar to that of Menzgold, government has failed to bring the perpetrators to book, several months after their deposits amounting to 135 million cedis got locked up in crypto-currency…
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Govt must set realistic targets for inflation—Economist
Economist, Dr. Lord Mensah has blamed the failure of government’s inability to meet its end of period inflation target for 2018, on the Finance Ministry’s decision of setting unrealistic targets. The inflation rate for the final month of 2018, December, increased marginally to 9.4 percent, from the 9.3 percent recorded in November 2018. The marginal increase…
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‘We’ll help our members to obey BoG regulations’—Savings and Loans Association
The Savings and Loans Association of Ghana has assured that it will do all it can to help its members abide by new rules that will be announced by the Bank of Ghana to protect the financial sector. The Bank of Ghana (BoG) has indicated that it is set to turn its attention on the…
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First Sky Group expands operations in Ghana
The First Sky Group, owners of First Sky Construction, First Sky Commodities and Volta Serene Hotel has added two more subsidiaries to its conglomerates, namely, Serene Insurance and First Sky Bitumen Processing Limited. Serene Insurance, which is worth 20million cedis is the “New Face of Insurance”, poised to bring on board the Ghanaian Insurance Industry,…
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Frontclear concludes landmark transaction with Fidelity Bank and Societe Generale
Frontclear, Fidelity Bank Ghana and Societe Generale, has completed a USD40-million cross-currency total return swap transaction. The trade marks a first-of-its-kind cross-border deal in Ghana, and it follows on Frontclear’s two-year technical assistance to the country’s money market development. Cross-border transactions in Ghana typically face operational and legal challenges, such as constraints to use local…
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No IPO after 4G acquisition – Vodafone CEO
Telecommunications giant, Vodafone Ghana, has disclosed that it has no plans to list on the Ghana Stock Exchange following its acquisition of the 4G licence from the NCA a week ago. The National Communications Authority (NCA) announced late last year that Vodafone was the only successful company to secure the 4G licence after a second bidding…