BUSINESS

Deputy Information Minister Pius Enam Hadzide has denied claims by the Executive Director of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, that government has reintroduced the Price Stabilisation levy following the continuous drop in fuel prices. According to COPEC, fuel prices would have reduced further for consumers if government had not reintroduced the stabilization levy. Petrol is expected to see ...

Aggrieved staff of gold trade hub, Menzgold have exposed the hidden faces behind the embattled company and revealed that there are moves by these individuals to sell off their assets and secretly leave the country in view of the current state of the company. Hitherto latest developments, it has been only Nana Appiah Mensah (NAM 1), whose face and identity ...

Barclays Bank of Ghana, now Absa Ghana Limited, has reintroduced its NewGold Exchange Traded Fund (ETF) product affirmed by the Ghana Stock Exchange (GSE) & Security & Exchange Commission’s (SEC) as the only approved investment product that gives investors genuine exposure to gold. The reintroduction was made during the release of the 2018 Absa Africa Financial Markets Index report. Six ...

Controversial lawyer, Maurice Ampaw is alleging that Finance Minister, Ken Ofori-Atta in concert with the Bank of Ghana (BoG) and Securities and Exchange Commission (SEC) deliberately closed down gold trading hub, Menzgold because it threatened the existence of his Databank, MyNewsGh.com has learnt. Maurice Ampaw, his wife and family who have about GH¢1 million locked up with Menzgold, told Kumasi-based ...

Gold trading firm Menzgold has announced it is suspending its new online global gold trading following advice it has received over the new business line. The company in a statement Thursday also asked its staff to proceed on leave between Monday December 10 to December 20 due to the persistent attacks on them by aggrieved customers. “All staff members excluding ...

Gold trading and investment firm, MenzGold Ghana Limited, has ordered its staff across the country to proceed on compulsory leave due to what it described as incessant threats from aggrieved customers of the firm. Also, all branch managers of the firm have been transferred to the company’s headquarters at Dzorwulu in Accra, the firm announced in a statement issued Wednesday. ...

Some victims of the alleged cryptocurrency scam have resolved to take legal action against the management of Global Coin Community Help (GCCH), the company they reportedly invested hundreds of thousands of cedis with. They said the decision to seek redress in court is based on the fact that efforts by the Economic and Organized Crimes Office (EOCO), Securities and Exchange ...

The issue of illicit financial flows is not new; however, the increasing complexity of the digital economy and fast-evolving technologies in the last few decades is changing the landscape of this problem. The threat posed by the 21st-century cybercriminal in earning money illegally and transferring it across borders with a simple mouse click was realised when a syndicate of 26 ...

The United States Embassy in Ghana has described as “false” a communiqué warning of the existence of two con men in some six African countries duping unsuspecting citizens in those countries under the guise of cryptocurrency investment. The communique’ purportedly authored by John P. Hooks, Head of the United States’ Cyber Crime Unit said: “I would like to inform the ...

The local currency is now two pesewas away from hitting the dreaded GH¢5 mark per a dollar. It closed Monday trading at around GH¢4.98 against the US dollar. This is basically the main quotes being put out by some of the major commercial banks in the currency business in the country. What is causing this? Lots of reasons have been put forward ...