BUSINESS

Civil Servants who have hit their retirement age but are still in the public service will soon be removed from the public sector payroll, Auditor General Daniel Domelovo has hinted. The move is intended to rid the service of overaged staff in compliance with regulations of the public service. “We shall also identify those who are overaged because under Article ...

The embattled gold collectibles firm, Menzgold Ghana Limited, reportedly owes its customers about $42 million. Currently, there are an estimated 46,000 individuals whose funds have been locked up with Menzgold, and they are mounting pressure on the relevant authorities to recover their investments. Initially, there were speculations that Menzgold owed its customers about $200 million. Plea Deal Already, details are ...

Leading cement manufacturer, GHACEM, has said the company is working to attain it’s three million tonnes production target by the end of the year. This will propel the company to meet its set target of producing and distributing 60 million bags of cement in 2019, the Managing Director of GHACEM, Mr Morten Gade, has told the Daily Graphic. “Strategically, what ...

Whether you are a first-time investor or have been investing for many years, there are some basic questions you should always ask before you commit your hard-earned money to an investment. Too many investors might have avoided trouble and losses if they had asked questions from the start and verified the answers with information from independent sources. When you consider ...

Asantehene Otumfuo Osei Tutu II has said managers of AngloGold Ashanti’s Obuasi Mine were frustrated with the invasion of their concessions by illegal miners in the past, to the extent that they offered to sell the entire mine to him at $1. The mine was shut down in 2014 due to the government’s inability to secure the concession from illegal ...

Price Water House Coopers (PwC) has hinted of possible “legal action” to help recover outstanding loans secured from defunct UT and Capital Banks. This was after the joint receivers for the defunct banks, Price Water House Coopers, published the names of these defaulters in the Newspapers on January 18 2019. According to the notice signed by Vish Asiagbor and Eric ...

Government has suspended plans to begin the implementation of the tax stamp policy for the textile industry which is slated for this month. The move is to ensure additional security features are added to the stamp. Government revealed last year of its plans to extend the tax stamp policy to textiles in order to curb smuggling of the product in ...

Tullow is expected to drill and complete seven new wells across the TEN and Jubilee fields this year. This would allow gross oil production from Ghana to rise to approximately 180,000 bopd in line with the year’s production forecast. Gross production from Jubilee in 2018 averaged 78,000 bopd (net: 27,700 bopd) slightly below the Group’s November forecast. That was due ...

Blow Chem Industries, manufacturers of Bel-Aqua Mineral Water has dismissed the viral video on social suggesting their product is unhealthy. The company It wants the public to disregard such claims, stating that its products are certified by the Foods and Drugs Authority. In a statement signed by its Head of communication Emmanuel Quist, Blow Chem said: “Management of Bel-Aqua Mineral ...

Many more expositions of investments gone bad have surfaced as Adom 106.3 FM’s morning show has provided the platform for Ghanaians to narrate their stories. Prominent among the narrations was that of a Chartered Account, Kwadwo Ayerh, who alleged that attempts to recoup over 8 million Ghana Cedis investments made by him and some 40 others with Man Capital Partners ...