Tag: Ghana Business News
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High air travel costs, visa delays impede US investments to Ghana
The US Ambassador to Ghana, Robert Jackson, has cited the high cost of air travel and the undue delays in visa acquisition as two major challenges to investments to Ghana. According to him, the development has compelled most investors to divert attention to other countries within the sub-region as businesses are more endeared to ease…
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Registrar General’s Dept calls for calm over ‘omitted’ DKM names
The Registrar General’s Department is urging restraint among DKM customers who did not find their names on the list that was released yesterday (8th March, 2017). [contextly_sidebar id=”s0MJrsZlnvVDnFwvJohVZNJa2UErOIXw”]The Department, which is the official liquidator of DKM Microfinance earlier announced that a final list of validated DKM customers yet to receive their cash has been released.…
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Textile workers call off ‘demo’ against pirated textiles
Local Textile workers have put on hold, their planned protest over pirated goods which was slated for today. According to the textile workers, the move has been prompted by the Ministry’s readiness to engage them in addressing their concerns. But the Chairman of the Concerned Workers of the Textile Industry, Ebenezer Asumadu on Wednesday told Citi…
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Refineries threaten boycott of Ghana gold over galamsey
Ghana risks a boycott of its gold by major refineries across the globe if it fails to tackle illegal mining activities in the short term. This is the caution from industry players. According to them, the country also risks huge revenue losses from small scale mining which accounts for about thirty percent of the total…
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Hebron Financial Investment halts online trading business
Hebron Financial Investment Limited has halted its online forex trading following the Bank of Ghana’s decision to stop the operations of the company. The central bank, on Tuesday [March 7, 2017] announced it had halted the operations of Hebron financial investment for flouting the country’s foreign exchange Act. A statement on the matter and copied…
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Govt regularizes galamsey to curb the menace in 5 years
Government has launched a new project aimed at curbing illegal mining activities in the country at least within the next five years. To this end, it has commenced a multi-lateral mining integrated project which will regulate the activities of illegal miners and reduce the impact of destruction to the environment. The project among others seeks…
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DKM customers skeptical of final payments today
It appears there is growing disinterest and mistrust among DKM customers who are yet to be paid their locked up cash by the Registrar General’s Department. The Registrar General’s Department which is the official Liquidator of DKM Microfinance is expected to today conclude final payment of the remaining DKM customers. Citi Business News checks reveal…
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BoG to penalize owners of closed down illegal institutions
The Bank of Ghana (BoG) has disclosed it will duly sanction owners of the two institutions whose activities have been halted for operating illegally. The central bank explains that it is currently working with the security agencies to investigate persons arrested in connection with the development. “The BoG was able to close down the operations…
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SIC yet to clear Ivory Finance debt – Adu Sarkodie
Non-bank financial institution, Ivory Finance, has dismissed reports that it has been paid in full, the 91 million cedis owed it by insurance firm SIC. The two have been in a long standing legal and board room battle over the debt which came up after SIC guaranteed a 14 million cedi Italconstruct project for 19.3…
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BoG closes down two institutions for operating illegally
The Bank of Ghana (BoG) has halted the operations of two financial institutions for operating illegally. The two are; Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL). According to the central bank, the two institutions have been operating as an unlicensed microfinance and unauthorised online foreign exchange trading business respectively. A…