The latest data emanating from the Ghana Investment Promotion Centre reveals that the country attracted US$2,650.97 million worth of foreign direct investment in 2020, which translates to an increase of 139.06 percent over the US$1,108.93 million recorded in 2019 . Although not quite as high as the nearly US$5 billion achieved in 2017, Ghana’s performance …
The Securities and Exchange Commission (SEC) says Wiseling Online Investment Company, a Finnish-based company operating in Ghana, has not been licensed by it to carry out any Capital Market activity. This Capital Market activity including investing or trading for returns is mandated by Section 3 of the Securities Industry Act, 2016 (Act 929). A statement …
The Member of Parliament for Ejisu in the Ashanti Region, John Ampontuah Kumah is urging Parliament to establish a legal framework for crowdfunding in order to support companies seeking capital for expansion. Presenting a statement in Parliament on “Youth Unemployment and Job Creation through the Private Sector,” Mr. Kumah who is the immediate past CEO …
The Securities and Exchange Commission (SEC) has revealed that 2,802 clients of defunct fund management companies have received full or partial payment of their investments under the government’s bailout package for the industry. The total amount paid to the clients is GH¢322.75m, the commission said. The full bailout package involves a special arrangement whereby the …
The Ghana Investment Promotion Centre (GIPC) has launched an investigation into the operations of a Chinese investment firm, Chy Century Heng Yue Group Limited and its partner, Sairui E-commerce Ghana Limited. According to the business regulator, Chy Century Heng Yue Group Limited breached the GIPC law as its engagement in capital market activities wasn’t included …
The Securities and Exchange Commission (SEC) has issued a warning to Ghanaians, especially investors, to desist from investing in an unauthorized Chinese firm; Chy Century Heng Yue Group Limited and its partner, Sairui E-commerce Ghana Limited. According to SEC, the afore-mentioned financial institution, which has been undertaking electronic investment transactions has not been licensed to …
Ghana’s Foreign Direct Investment (FDI) is expected to exceed one billion dollars, Mr. Yofi Grant, the Chief Executive Officer of Ghana’s Investment Promotion Centre (GIPC) has said. He explained that although countries around the world are now looking inwardly to develop their economies following the outbreak of the coronavirus pandemic, Ghana’s FDI remains attractive. He …
Investors are hoping that the incumbent, President Nana Akufo-Addo, will retain his position in order to sort out Ghana’s fiscal challenges by winning a second term in Monday’s election. A As at Tuesday, December 8, the votes were still being counted but the incumbent president had a slight lead. The New Patriotic Party’s Akufo-Addo faced …
The Securities and Exchange Commission (SEC) has begun a process to establish, on an ongoing basis, the level of interconnectedness within the fund management sector, in a move to enable it decide on the creation of an investor protection fund and to help strengthen financial system stability. In a new directive issued this week, SEC …
Government exceeded its Treasury bills sale target for the seventh-week running, as it mobilized GH¢1.15 billion from the weekly auctioning of the short term securities. Government had targeted GH¢1.043 billion, but mobilized an extra GH¢112 million. This suggests that the domestic economy appears to be picking-up at a rapid pace following months of a slow-down …