BUSINESS

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 The Bank of Ghana (BoG) dossier on the 23 savings and loans companies, whose licences have been revoked, said: “Global Access assumed the liability of a loan contracted by the ...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 ...

The clean-up of the banking, specialized deposit-taking (SDT) and non-bank financial institutions (NBFI) sectors in the country by the Bank of Ghana (BoG) is opening the Pandora’s box with regard to how some of the owners illegally transferred customers’ savings and investments without traces. The Central Bank last Friday struck once again when it announced a revocation of the licenses ...

The Chairman and CEO Groupe Nduom, Dr Papa Kwesi Nduom has reacted to the Bank of Ghana’s decision to revoke the license of his company, GN Savings Limited. The Bank of Ghana on Friday revoked the licenses of twenty-three (23) insolvent savings and loans companies and finance house companies including the GN Savings Limited. The central bank in its statement ...

Anthony Pile, founder and chairman of Blue Skies Holdings, a fruit processing company, has urged the government to help facilitate trade within the Economic Community of West African States (ECOWAS) market. He said Blue Skies Holdings and other companies in Ghana needed government’s support to be able to penetrate the ECOWAS market. Mr Pile said the ease of doing business ...

An energy expert has questioned the Finance Ministry’s move to unfreeze bank accounts of Power Distribution Services (PDS) Ghana Limited. Kwame Jantuah does not understand why the Ministry is taking steps to unfreeze the accounts when the reasons given by the Energy Ministry before suspending the concession with PDS still holds. “The Energy suspended PDS based on a law – ...