The cost of cleaning up the financial sector could cost as much as US$4 billion, which is about GH¢21 billion, Ken Ofori-Atta, Finance Minister has said. The Finance Minister speaking on the floor of Parliament today said the government had to step in to protect the integrity of the sector as well as protect …
Month: July 2019
The claim, estimated to be worth more than 1 billion pounds ($1.24 billion), was filed at the Competition Appeal Tribunal (CAT) on Monday, U.S. law firm Scott + Scott said. JP Morgan, RBS, UBS, Barclays and Citi declined to comment. Some of the world’s biggest investment banks have already paid more than a combined $11 …
Vice President Dr. Mahamudu Bawumia has told Canadian investors that Ghana has the best investment environment in Africa for both local and foreign investors. He said Ghana did not only have stable political and security environment but has a benign legal and regulatory environment that offered the best investment climate on the African Continent. The Vice …
The Securities and Exchange Commission (SEC) has disclosed that it is currently conducting a forensic audit into the operations of about twenty companies within the securities market. Deputy Director-General of the SEC, Paul Ababio tells Citi Business News the exercise should inform the next line of action in eliminating non-compliant companies and protect investor funds. …
Governor of the Bank of Ghana, Dr Ernest Addison, has maintained that the recent banking reforms have made the sector safer. Responding to a question posed by Joy Business at the Monetary Policy Committee (MPC) briefing on whether the banking clean-up has gotten the desired results, the Governor said the reforms were needed to promptly deal …
Ghana stocks headed for the lowest in 21 months as investors sold shares to free up cash as they contend with the fallout from banking reforms in the West African nation. The Ghana Stock Exchange Composite Index retreated 1.5% as of 12:09 p.m. in Accra Wednesday, heading for the lowest close since October 2017. Ghana’s …
At least 48 Ghanaian journalists have been trained in cutting edge financial and data journalism, thanks to the Bloomberg Media Initiative Africa (BMIA). The philanthropic arm of Bloomberg extended the training to Ghana after huge successes of similar programmes in South Africa, Kenya and Nigeria. Reporting on figures, the economy and converting raw data into …
Date: Jul 05 2019 07:55 BY: Maxwell Akalaare Adombila Category: Business News From the 2020/21 cocoa season, every tonne of cocoa beans from Ghana and Cote d’Ivoire that will be sold on the international market will attract an additional $400 as a living income differential. The amount will be paid by buyers of cocoa from the …
Date: Jul 09, 2019 10:04 BY: Daily Graphic Category: Business News The Ghana Investment Promotion Centre (GIPC) has signed a Memorandum of Understanding (MoU) with Malta Enterprise, Malta’s economic development agency, tasked with attracting new foreign direct investment, as well as facilitating the growth of existing operations. The MoU empowers both parties to set up a …
Date: Jul 10, 2019 09:23 BY: Emmanuel Bruce Category: Business News The Founder of Koko King, Mr Albert Osei, has urged entrepreneurs in the country not to be afraid of failure. He said an individual could not succeed in business while harbouring the fear of failure. “It is the failure that will strengthen you to find …