Tag: Ghana Business News
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IMF clearance speeds up processes for China’s $2bn – Akoto Osei
The Minister for Monitoring and Evaluation, Dr. Anthony Akoto Osei, has stated that government will speed up negotiations on the two billion dollar SinoHydro bauxite deal, following the International Monetary Fund’s (IMF) rejection of the Minority’s request to classify the deal as a loan. Speaking to Citi News, Dr. Akoto Osei maintained that the clarification…
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Don’t panic, we are still strong – Savings & Loans Association
The Ghana Association of Savings and Loans Companies is assuring clients and the general public that the sector is still robust despite recent issues facing the financial sector. A statement from the association to Citi Business News admitted to challenges with some Savings and Loans Companies. But it is confident such issues should be resolved…
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Menzgold to pay customers their monies from Friday
Management of gold dealership company Menzgold, has announced that customers can visit branches of the company to demand their matured investment from tomorrow [Friday], September 28, 2018. Addressing a press conference today, Thursday, Corporate Affairs Manager of Menzgold, Nana Yaw Ofei, explained that the company will pay all its customers that were trading with them…
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Stay off our business; Menzgold sues BoG, SEC
Embattled gold dealership company, Menzgold, has sued the Securities and Exchange Commission (SEC) and the Bank of Ghana. The company in its suit is seeking from the court an order directing the two institutions to stop interfering in its business. Menzgold also asked the court to stop the Bank of Ghana and the SEC from publishing what…
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BoG challenges jurisdiction of court hearing Duffuor’s case
The Bank of Ghana has challenged the capacity of the General Jurisdiction Court hearing the lawsuit brought against it by a shareholder of Unibank, Dr. Kwabena Duffuor. The Central Bank on August 1, 2018, collapsed uniBank along with four other local banks on grounds of insolvency among other irregularities, to create a new bank known…
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Groupe Nduom seeks investors’ support into business
The Chairman of Groupe Nduom, Dr. Papa Kwesi Nduom is assuring customers of Gold Coast Holdings and GN Bank of addressing their cash withdrawal needs to a large extent, from Monday [October 1, 2018]. The two institutions within the group, have been hit by panic withdrawals by customers over the past few weeks. This has…
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Zenith Bank gets global data security certification
Zenith Bank has been awarded Payment Card Industry Data Security Standard and ISO 27001 certificates confirming the bank’s strong systems to guard against cyber attacks. The certification follows months of building systems to protect Zenith bank’s data and customers’ deposits. The move also comes at a time where the cyber fraud cases in the financial…
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We’ve not blocked Menzgold’s dividend payments – SEC
The Securities and Exchange Commission (SEC) has denied reports by gold dealership Company, Menzgold, that it has stopped it from paying dividend on its gold vault business to customers. SEC says its decision was rather to stop Menzgold from taking deposits on that particular service. But Menzgold insists it is unable to pay their customers their…
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Fuel transport: ACEP proposes utilization of pipelines
The African Centre for Energy Policy (ACEP) wants the mandate of the Bulk Oil Storage and Transportation Company, BOST to be reviewed to deepen its storage capacity. ACEP explains that this should help in finding a lasting solution to the intermittent challenges associated with fuel transportation in Ghana. The comment also follows the sit down…
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Debt stock to rise further with weak industrialization – Economists
Economists have warned that the country’s rising debt stock will continue until the government changes the structure of the economy. Latest figures released by the Bank of Ghana show that the country’s debt stock has reached 159.4 billion cedis. This represents 65.9 percent of the GDP which is the total value of all goods and…