The Bank of Ghana has shutdown Dancom Microfinance Ltd and also caused the arrest and prosecution of the Directors of the firm for engaging in deposit-taking activities without a licence. According to a statement from the BoG, Dancom Microfinance Ltd was not licensed to engage in microfinance business as per section 6 (1) of the …
Month: October 2018
This article highlights a serious problem that can be summed up as follows: not all business people and entrepreneurs who come into Africa as investors are prepared to ‘play fair’. As a result, any country that seeks to attract Direct Foreign Investments (DFI), and this includes Ghana, must ensure that they have effective policies in …
GCB Bank has for the second time been adjudged the Most Compliant Focused Bank in Africa at the just ended Africa Compliance Professional awards (ACCPA) in Luanda, Angola. The award was organized by the Association of Certified Compliance Professionals in Africa (ACCPA). The awards climax a two day conference for Compliance Professionals in Africa under …
The Africa Export and Import Bank (Afreximbank) has begun its Anglophone roadshow from Ghana with an interest in creating a partnership to finance the government’s industrialization program. The bank believes the government’s vision to transform the economy through internal trading can be funded through partnerships. According to the Africa Export Import, EXIM Bank, the economies …
Ghana Reinsurance company ltd has announced it will be topping up its capital base with GH₵15 million bringing it to a total of GH₵100 million. This is ahead of an anticipated announcement in of a new capital requirement for insurance companies by the regulator, the National Insurance Commission. The Board Chairman of Ghana Reinsurance, George Otoo, …
With the first UK-Ghana Investment Summit held in Accra, the UK launches a new chapter in its longstanding and wide-ranging partnership with Ghana. The UK organised three days of activities to celebrate the strength of the UK-Ghana relationship, to launch a deeper and more strategic economic development partnership, and to take forward over £1 billion …
Inflation declined marginally to 9.8 per cent as at the end of September 2018, compared to the 9.9 per cent recorded in August the same year. This represents a drop of 0.1 percentage points. Inflation, which is determined by the Consumer Price Index (CPI) measures the change over time in the general price level of …
The Securities and Exchange Commission (SEC) has settled on a new minimum capital requirement for the various capital market players. The decision was reached after an extensive engagement with all the stakeholders in the insurance industry. According to the Commission, the move is to help improve the financial status of all the various category of …
Mobile telecommunications giant, MTN Ghana on Friday, trained some judges in the country on the schemes carried out by fraudsters to manipulate mobile money transactions and defraud innocent Ghanaians. The workshop was organized by MTN Ghana in collaboration with e-Crime bureau to enlighten the judiciary with enough information and also show them the various means …
The Embassy of France in Accra has extended an invitation to Ghanaian companies to take part in a Business Forum, dubbed “Ambition Africa 2018,” slated for October 22 and 23 in Paris. A statement issued by the French Embassy in Accra and copied to the Ghana News Agency on Tuesday said the “Ambition Africa 2018” …