BUSINESS

Gold dealership firm, Menzgold Ghana Limited has refuted claims that it owes about 16,000 embattled clients GHS1.68 billion. State-owned Daily Graphic’s news website reported on Friday, 12 July 2019 that it sighted a charge sheet in court which levelled fraud allegations against the company’s CEO Nana Appiah Mensah (NAM1) as well as Brew Marketing Consult and Menzgold. In the charge ...

The Economist Intelligence Unit (EIU) is predicting that the government will struggle to lower its expenditure in the run-up to the 2020 general elections. Despite government passing the Fiscal Responsibility Act last year aiming to limit future budget deficits to a maximum of 5% of GDP, the London-based business advisory firm expects the government to record a 5.5 percent budget ...

Energy expert, Kwadwo Poku has backed a call for the government to cancel some Power Purchase Agreements (PPAs) to curtail ballooning debts. The Africa Centre for Energy Policy (ACEP) on Wednesday urged the government to rationalise the power sector by cutting out some of the excess power generated by the Independent Power Producers (IPP). According to ACEP, this can only ...

The Ghana Growth Fund, a subsidiary of Groupe Ndoum, has sued the Finance Minister over debts that have left it unable to pay investors’ funds. Included in the suit is the Attorney-General, Minister for Roads and Highways and Agyakot Company Limited. Lawyers for Ghana Growth Fund Limited, which invests the money on behalf of Gold Coast Fund Management, are demanding ...

Gold Fields Ghana has officially commissioned the reconstructed 33-km Tarkwa-Damang road in the Western Region of the country. The road links two communities that host Gold Fields’ mines. The road also serves several communities in the Tarkwa-Nsuaem and Prestea Huni-Valley municipalities. It is the largest-ever public infrastructure project funded by the global Gold Fields Group. A baseline study conducted by ...

The troubles of Nana Appiah Mensah popularly known as NAM1, are not over yet as a Pakistani national has also sued him in a Dubai court over a one million dollar ($1m) debt. A source in Dubai has told ABC News that, NAM1 had signed an agreement with an unnamed Pakistani national to settle his indebtedness to him by installment, ...

Five firms in the vegetable export business have received approval to resume trading in the suspended vegetable commodities on the international market. The approval was given after the firms satisfied all the conditions set by the Plant Protection and Regulatory Services Directorate (PPRSD) of the Ministry of Food and Agriculture (MoFA). They are Joekopan Farms, AB Farms, A Mahli Farms, ...

Ghana is to transform and diversify its economy by promoting private investment and firm growth in the non-resource base sectors through an integrated program to build the country’s competitiveness and deliver sustainable jobs under the Ghana Economic Transformation Project (GETP). The $200 million funded project from the International Development Association (IDA)* was approved by the World Bank Board of Executive ...

Over eighty ICT and Telecom experts were honoured at the 9th edition of the Ghana Information Technology and Telecom Awards (GITTA) 2019 which was held at the Movenpick Ambassador hotel on Friday, June 28, 2019. The event which was themed “Celebrating Innovation and Excellence in the ICT Sector”, attracted key stakeholders in the telecom and information communication technology industry from ...

An Accra High Court presided over by Justice Jennifer Dadzie, has dismissed an application instituted by the receiver of uniBank, Nii Amanor Dodoo, which sought to retrieve from the 17 shareholders of the defunct bank, the repayment of a GHC 5.7 billion debt owed the bank. It was the contention of the Receiver, that the Defendants (Shareholders of uniBank) “have ...