BUSINESS

GN Bank management to meet over savings and loans transition

The management of GN Bank is yet to finalize its arrangements to transition into a savings and loans company from a universal bank. This is after the Bank of Ghana announced last week that it had approved an application for the bank to be downgraded into a savings and loans company after failing to meet the Central Bank’s GH¢ 400 ...

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Heritage Bank’s ex-Board sets record straight on BoG’s ‘complete falsehoods, inaccuracies’

The seven-member ex-Board of Directors of the now-defunct Heritage Bank has issued a statement responding to all the allegations levelled against the bank’s operations by the Bank of Ghana, for which reasons its licence was revoked on Friday, 4 January 2018. The ex-Board, chaired by Prof Kwesi Botchwey, had the following people as members: Colombus Bruce, Peter Sangbey-Dery, Florence Hutchful, ...

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Immeri settles in Ghana for Africa operations

Global multinational health firm, Immeri Global, has chosen Ghana to commence operations in Africa. The company is focused on improving the health and quality of life of people around the world through scientifically proven, patented products and naturally formulated products. The firm held a grand launch of its operations in Ghana at the Kempinski Hotel Gold Coast City in Accra. ...

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Agongo’s prosecution in COCOBOD case makes him not ‘fit and proper’ to own a bank – Addison

The Governor of the Bank of Ghana, Dr Ernest Addison, has said the central bank decided to revoke the licence of Heritage Bank recently because its majority shareholder, Mr Seidu Agongo, failed the “fit and proper person” test, thus, “unsuitable” to own or run a bank in Ghana. Dr Addison told journalists on Friday, 4 January 2019 at a press ...

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Your deposits safe: BoG to Heritage, Premium bank clients

The Bank of Ghana (BoG) has assured the customers of Premium Bank and Heritage Bank that their deposits are safe and fully accessible. The licences of the two banks have been revoked by the apex bank. At a press conference on Friday, 4 January 2018, Governor of the Bank of Ghana (BoG), Dr Ernest Addison, stressed that: “All deposits of ...

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UBA Ghana appoints Isong A. Udom as new CEO

United Bank for Africa (Ghana) Limited, a subsidiary of UBA Plc, which has footprints in 20 African countries and in New York, Paris and London, has announced the appointment of a renowned and experienced banker Mr. Isong A. Udom as UBA Ghana’s new Managing Director/Chief Executive Officer. His appointment takes effect from January 1, 2019 after a successful approval by ...

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Stop buying Mahindra, Tata; buy Kantanka – Antwi-Danso to government

The Dean of the Ghana Armed Forces Command and Staff College, Dr Vladimir Antwi-Danso has called on the government to support local auto firm Kantanka Automobile by purchasing their vehicles so as to create jobs and fulfil its promise of industrialising Ghana. Dr Antwi-Danso made the call at the 38th Annual Technology Exhibition Show of Apostle Kwadwo Sarfo, at which ...

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Recapitalization: Govt prepares GH¢2bn bailout package for six banks

The government is to announce a GH₵2 billion bailout package for some six indigenous banks to enable them to meet the Bank of Ghana (BoG) deadline on recapitalization, which expires today, December 31. The package was hurriedly put together this month for the six, which are seen as well-governed, solvent but unable to meet the BoG GH₵400 million new minimum ...

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Menzgold to pay customers their full investments within 10 days?

Gold trading firm, Menzgold Ghana Limited will complete full payment to its investors by January 9, 2019, that’s if the company goes by its promise. This payment is part of the company’s effort to pay customers the full value of Gold traded with the company within a 90-day payment schedule announced in October 2018. According to a press statement released ...

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Understanding Bitcoin this festive season

Bitcoin concept was conceived barely a decade ago, and it remains as one of the most misunderstood yet widely known cryptocurrency. Reluctance to embrace this electronic financial transaction system locally is based on misinformation and controversies whose basis is ignorance about bitcoins. This comfort is not new because the world had to overcome a financial system, which tied gold to ...

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