BUSINESS

The Ghana Union of Traders Association (GUTA) is pushing government to review the country’s import duty. According to the association, the woes of local businesses has increased due to the high cost of import duty. GUTA warns that cost of goods on the market will increase further if nothing is done about the situation. The concern follows comment from President ...

Dubai-based Horizon Royal Diamonds DMCC, has denied having any connection with embattled Ghanaian gold dealership firm, Menzgold Company Limited and its CEO Nana Appiah Mensah. In a statement, Royal Diamonds DMCC, said: “Menzgold Ghana Company Limited with its Chief Executive Officer, Nana Appiah Mensah is not in any way connected to Horizon Royal Diamond’s business dealings with Just Gold Company ...

The Minority in parliament has said it is amazed by the government’s attempt to “deceive” Ghanaians into believing that there is a new discovery of 550 million barrels of oil by Aker Energy. According to a statement signed by Mr Adam Mutawakilu, the ranking member of the Mines and Energy Committee of Parliament, the government’s actions and inactions have rather ...

The president of Groupe Nduom, Dr Papa Kwesi Nduom, has denied having any investment in beleaguered gold dealership outfit Menzgold. Menzgold has been at loggerheads with its customers who are demanding payment of their principal investments after the gold dealership company was instructed by the Securities and Exchange Commission to halt their gold trading operations. Reacting to reports that its ...

The Chief Executive Officer of troubled gold firm Menzgold, Nana Appiah Mensah has reportedly breached his bail conditions and absconded, Gabby Otchere Darko has claimed. The disclosure by the President’s cousin comes after a threat by aggrieved customers of the Menzgold that they will vote against the ruling party if the President continues to sit aloof as their investment with ...

The Finance Minister Ken Ofori-Atta is charting a path that is dangerous for the financial sector in the country following the takeover of some indigenous banks by the Bank of Ghana (BoG), Isaac Adongo, Bolgatanga Central MP, has said. According to him, Mr Ofori-Atta is using the BoG to collapse banks owned by sympathisers of the main opposition party, the ...

Some customers of Menzgold Ghana Limited have vowed to stage another demonstration in Kumasi, the Ashanti regional capital of Ghana. The customers are protesting due to their inability to access their locked up funds at the gold dealership firm. The protestors have blocked roads at Amakom and other parts of Kumasi burning tyres to express their anger. They are also ...

Ghana’s only local car manufacturing company, Kantanka Automobile Company has been handed a 10-year tax holiday by government. The company has also been given a duty free deal when they import the materials for assembling and manufacturing purposes. It was announced by the CEO of Kantanka Group of Companies Nana Kwadjo Safo Ankofena Jnr at the end of year party ...

As the Central Bank, together with allied state agencies of security and intelligence, chase sneaky Menzgold over scam banking deals involving billions, Free Press can reveal that it is not only ordinary citizens or active and retired security service personnel who were fleeced of their earnings. Insider sources, including some staff of the shady organisation, say several politicians from the ...

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 ...