BUSINESS

The Ghana Revenue Authority (GRA) has seized carbonated drinks and alcoholic beverages that have not been affixed with excise tax stamps. The products are mostly imported – Coca-Cola, Red Bull, Canada Dry, Heineken, Red And Black Label and several others. Kwaku Apau Anto, Head of Excise, GRA, told The Chronicle and other media personnel present at the Accra Business District ...

Companies operating within the insurance industry have up to Friday, 30th August 2019, to submit their recapitalization plans to the National Insurance Commission following the increment in the minimum capital requirement for insurance companies. The NIC increased the capital for insurance companies from GH¢15,000,000 to GH¢50 million and that of Reinsurance companies from GH¢40 million to GH¢125 million. That for ...

Tullow Ghana Limited (TGL) has spent about $32 million on Corporate Social Responsibility (CSR) and capacity building programmes for the past ten years. The Social Performance Manager of TGL, Fiifi Enchill who disclosed this at the TGL maiden Science, Technology, Engineering and Mathematics (STEM) fair in Accra on Thursday said, the projects were in education, skills training and scholarships. The ...

The government has described as unwarranted and unfortunate, attempts by some individuals to draw President Nana Akufo-Addo into the insolvency problems currently confronting GN Savings and Loans. A statement issued and signed by the Deputy Minister of Information, Nana Ama Dokua Asiamah-Adjei in Accra yesterday said the President Akufo-Addo’s administration had nothing to gain from the closure of a company ...

The Dangme Rural Bank (DRB) last Friday donated assorted drinks and undisclosed amount of money to the four traditional councils in its jurisdiction towards this year’s Homowo celebration. Members of the Board of the bank presented the items which included beer, Guinness and soft drinks to the Ningo Traditional Council (NTC) Prampram Traditional Council (PTC), Kpone Traditional Council (KTC) and ...

The Managing Director of Zenith Bank Ghana Limited, Henry Oroh, has been appointed the Executive Director of Zenith Bank Plc. His appointment has duly been approved by the Board of Directors of Zenith Bank Plc. Mr. Oroh’s appointment, according to a statement issued by the Bank, is consistent with the bank’s tradition and succession strategy of grooming leaders from within. ...

The high rent expense paid by Global Access Savings and Loans Company Limited to its majority shareholder, Dr. Kofi Amoah was one of the main factors that collapsed the company. The Bank of Ghana (BoG) dossier on the 23 savings and loans companies, whose licences have been revoked, said: “Global Access assumed the liability of a loan contracted by the ...

President and chairman of Groupe Nduom, Dr. Papa Kwesi Nduom, has asked his employees to remain calm and also be apprised with the facts surrounding the decision by the Bank of Ghana to takeover GN Savings. In a video message message meant for his staff, Dr Nduom called on them to remember that their foundation is rooted in 2 Timothy 1:7 ...

Hoda Holdings Limited, the mother company of Unicredit Savings and Loans Company has sued the Bank of Ghana, and its governor Dr. Ernest Addison over the revocation of the company’s license. The case was filed at the Human Rights Division of the High Court on Monday. The plaintiff wants the court to quash the Bank of Ghana’s revocation of its ...

The Bank of Ghana (BOG), has revoked the licenses of twenty-three (23) insolvent savings and loans companies and finance house companies owned by some prominent individuals in the Ghanaian society, including Dr. Kwabena Duffuor, ex-Finance Minister of Ghana and former governor of BoG, and the youngest member of the Council of State and President of Groupe Ideal; Dr. Nii Kotei ...