The central bank is expected to take action on insolvent Savings and Loans (S&Ls) companies and finance houses in the coming weeks; an exercise that will require about GH¢2billion to secure the funds of depositors. There are currently 37 S&L companies and 23 finance houses operating in the country. While some remain very strong, there …
Founder of the Urban Entrepreneur Centers of America, Darrel Frater has stated that one of the ways an entrepreneur can become successful is to form a business relationship. According to him, business networking builds a relationship with potential customers and other entrepreneurs for business growth. Darrel Frater was speaking at the maiden edition of the …
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 …
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 …
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 Ministry of Food and Agriculture has initiated a discussion with the management of Alibaba Group Holding Ltd for the possibility of promoting the sale of Ghanaian cocoa products on the Chinese market using the e-platform of Alibaba Group. Cocoa products When firmed up, the company will open its doors to the various range of …
The Ghana Association of Savings and Loans Companies (GHASALC) has urged the public to disregard media publications and rumours suggesting that the savings and loans sector is collapsing. This follows recent reports of panic withdrawals from some major savings and loans companies over the last three months with the recent being the alleged collapse of …
The implementation of the one-district, one-factory project has commenced in four Metropolitan, Municipal and District Assemblies (MMDAs) in the Central Region. The factories, which are at various stages of completion, include a potato processing factory in the Gomoa West District, a block moulding factory in the Awutu Senya West District, a pineapple processing factory in …