BUSINESS

Govt workers to enjoy 10% pay rise in 2019

Public sector workers who fall under the single spine salary structure are to enjoy a 10% pay rise across board beginning January 2019. This was contained in a statement issued by the Finance ministry Wednesday after a meeting with the various stakeholders. “Following conclusion of negotiations on the 2019 single spine base pay, approval is hereby given for the attached ...

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Fuel prices: Price stabilization levy not activated – Hadzide

Deputy Information Minister Pius Enam Hadzide has denied claims by the Executive Director of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, that government has reintroduced the Price Stabilisation levy following the continuous drop in fuel prices. According to COPEC, fuel prices would have reduced further for consumers if government had not reintroduced the stabilization levy. Petrol is expected to see ...

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Meet the 13-member management team of Menzgold accused of selling off the company’s assets

Aggrieved staff of gold trade hub, Menzgold have exposed the hidden faces behind the embattled company and revealed that there are moves by these individuals to sell off their assets and secretly leave the country in view of the current state of the company. Hitherto latest developments, it has been only Nana Appiah Mensah (NAM 1), whose face and identity ...

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Barclays Ghana reintroduces “NewGold” investment product

Barclays Bank of Ghana, now Absa Ghana Limited, has reintroduced its NewGold Exchange Traded Fund (ETF) product affirmed by the Ghana Stock Exchange (GSE) & Security & Exchange Commission’s (SEC) as the only approved investment product that gives investors genuine exposure to gold. The reintroduction was made during the release of the 2018 Absa Africa Financial Markets Index report. Six ...

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Ofori-Atta collapsed Mengzold because it’s a threat to his Databank – Maurice Ampaw

Controversial lawyer, Maurice Ampaw is alleging that Finance Minister, Ken Ofori-Atta in concert with the Bank of Ghana (BoG) and Securities and Exchange Commission (SEC) deliberately closed down gold trading hub, Menzgold because it threatened the existence of his Databank, MyNewsGh.com has learnt. Maurice Ampaw, his wife and family who have about GH¢1 million locked up with Menzgold, told Kumasi-based ...

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Menzgold suspends new online trading; staff asked to proceed on leave

Gold trading firm Menzgold has announced it is suspending its new online global gold trading following advice it has received over the new business line. The company in a statement Thursday also asked its staff to proceed on leave between Monday December 10 to December 20 due to the persistent attacks on them by aggrieved customers. “All staff members excluding ...

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Menzgold orders all staff members to go on compulsory leave

Gold trading and investment firm, MenzGold Ghana Limited, has ordered its staff across the country to proceed on compulsory leave due to what it described as incessant threats from aggrieved customers of the firm. Also, all branch managers of the firm have been transferred to the company’s headquarters at Dzorwulu in Accra, the firm announced in a statement issued Wednesday. ...

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Victims of Cryptocurrency scam to drag company to court

Some victims of the alleged cryptocurrency scam have resolved to take legal action against the management of Global Coin Community Help (GCCH), the company they reportedly invested hundreds of thousands of cedis with. They said the decision to seek redress in court is based on the fact that efforts by the Economic and Organized Crimes Office (EOCO), Securities and Exchange ...

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How cybercrime and digital technologies are fuelling illicit financial flows in Ghana

The issue of illicit financial flows is not new; however, the increasing complexity of the digital economy and fast-evolving technologies in the last few decades is changing the landscape of this problem. The threat posed by the 21st-century cybercriminal in earning money illegally and transferring it across borders with a simple mouse click was realised when a syndicate of 26 ...

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Communique’ on cryptocurrency conmen not from us – US Embassy

The United States Embassy in Ghana has described as “false” a communiqué warning of the existence of two con men in some six African countries duping unsuspecting citizens in those countries under the guise of cryptocurrency investment. The communique’ purportedly authored by John P. Hooks, Head of the United States’ Cyber Crime Unit said: “I would like to inform the ...

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