BUSINESS

ll government institutions have been directed to procure all their toilet paper from local manufacturers in the next procurement cycle. The Vice President of the Republic, Dr Mahamudu Bawumia, gave the directive when he toured the Brompton Portfolio’s toilet paper manufacturing factory located at the Nsawam Prisons in the Eastern Region on Thursday, 26th September 2019. This directive comes a ...

Founder of defunct Capital Bank William Ato Essien has claimed Finance Minister Ken Ofori Atta and board chairman of the Enterprise Group Keli Gadzekpo proposed to buy his bank in 2016. According to him, the narrative surrounding the status of the bank after it was put into administration has changed significantly and it was time for him to speak out. ...

The Dubai Supreme Court has thrown out the case between Horizon Royal Diamonds and Menzgold CEO Nana Appiah Mensah aka NAM1. The embattled CEO was arrested and detained in Dubai for an alleged gold fraud case. He won the case against Horizon Diamonds and the court subsequently ordered the firm to pay him $39 million. There had been lots of ...

The Vacation Court in Accra has dismissed an application by lawyers of the Bank of Ghana (BoG) seeking the court to strike out UniCredit’s case challenging the BoGs letter revoking its operational license. UniCredit after the Central Bank revoked its license, filed an application for judicial review in the nature of Certiorari. They were asking the court to quash the ...

An Accra High Court will today rule on whether it has the jurisdiction on the case brought before it by owners of defunct finance firm uniCredit. Owners of uniCredit have argued that over GHC54 million of the company’s funds were locked up in erstwhile unibank prior to revocation of its license by the regulator. Unicredit was among some 15 Savings ...

The Bank of Ghana has stated that GhC4.6 million of depositors’ funds have been saved at the end of the Financial Sector cleanup as rightly stated by Vice president Dr. Mahamudu Bawumia. These include deposits of banks, savings and loans companies, Microfinance and Microcredit and a remittance company. The cleanup saw the revocation of the licenses of nine universal banks, ...

The long awaited first ever International Coconut Festival has commenced. The festival is marked with a set of activities which began on September 21, 2019, with a health work which saw the official launch of the World International Coconut Day. The ceremony was performed by the Eastern Regional Minister at Aburi. Starting from today, September 24, to September 26, 2019, ...

The Tema Port Security Manager, Colonel Joseph Malik Punamane, has urged security agencies in other African countries to meet stowaways with more deterrent punishments, in order to stop the menace of stowaways on the continents. He however stated that, the Tema Port Security remains so robust, it cannot serve as a conduit for stowaways to use in illegal travel overseas. ...

Key players in Ghana’s export chain, have expressed optimism in some opportunities that Ghana can leverage on to develop its export trade with the world, especially Africa, considering the African Continental Free Trade Area. The Deputy Chief Executive, Human Resource and Administration of the Ghana Export Promotion Authority, Albert Kassim Diwura, has on Eye on Port indicated that his outfit ...

With exception of the National Investment Bank (NIB), all banks operating in the country have now met the GH¢400million capitalisation as the banks under government’s bail-out plan have been helped with the needed funds, Governor of the central bank, Dr. Ernest Addison, has confirmed. According to the Governor, four of the banks that were given government guarantee through the Ghana ...