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Vice president Dr. Mahamudu Bawumia has noted the various policies being introduced by government must transform the lives of Ghanaians beyond stabilising the economy. He admitted there is hardship in the system, but promised the various social policy interventions will soon address challenges of the average Ghanaian. “I know and share...
Savings and Loans Companies that are in serious financial distress would soon be shut down, Governor of the Bank of Ghana (BoG), Dr Ernest Addison has disclosed. Dr Addison made the revelation during a meeting with Journalists after meeting to review the health of the Economy last week. Background Some of the...
It was conducted among 14 banks including, Fidelity Bank, GCB Bank, Ecobank, Barclays, Omni Bank, Stanbic Bank and the defunct Capital and Sovereign banks. According to the report, 24,300 people are currently employed in the banking sector. The report said 99 percent of the over 2,000 respondents disclosed that their banks...
An aggrieved customer of troubled Menzgold Ghana Company Ltd. is threatening to rally a class action suit against the minerals trading company. According to her, Menzgold has not been transparent about the legality of their operations with the customers. In an interview with Citi News, the customer, who spoke on grounds...
Joseph Paddy, Chairman of Abbosey Okai Spare Parts Dealers Association, has denied reports that the group has apologised to former President John Dramani Mahama for voting against him in the 2016 elections.Mr Paddy, who is also the Public Relations Officer of the Ghana Union Traders Association (GUTA) has, therefore,...
Gold dealership, Menzgold, has extended a six-day suspension of its Gold Vault Market services. The embattled firm has now set September 28, 2018 to resume the controversial service. In a release Tuesday, Menzgold has informed its customers that “Following our correspondence with the Securities and Exchange Commission (SEC), we regret to advise...
Some drivers have expressed their displeasure over the increase in fuel prices for the second pricing window in September. Checks by OtecNews at some fuel pumps on Monday evening showed that Shell had increased its prices. A litre of diesel and petrol are being sold at 5 cedis 18 pesewas...
Government has provided financial support to over 250 businesses selected from the Northern, Upper East and Upper West Regions under the Presidential Business Support Programme (PBSP). The Presidential Business Support Programme is designed to provide funding, technical support, training, mentorship and business advisory services to Ghanaian start-ups, as well as...
Vice President Dr. Mahamudu Bawumia’s recent comments that Ghana’s economy is built on strong fundamentals have received vindication from S&P Global Ratings. Dr. Bawumia while speaking at a Student’s Entrepreneurship Initiative program in Tamale dismissed the minority’s concerns that the recent marginal depreciation of the cedi was occasioned by a...
Gold trading firm Menzgold has urged its customers to keep calm despite the directive from the Securities and Exchange Commission (SEC) to stop their trading activities with the public. The company however says it is disappointed in the regulator for leaking its directive to them in spite of their cooperation...
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