BUSINESS

Embattled Chief Executive Officer of gold dealership company Menzgold, Nana Appiah Mensah has questioned why government is whipping up public sentiment against him and tainting his image when all he did was to contribute to the economy of the country. Venting his anger in a post on his Instagram page on Thursday morning he quizzed, “Somewhere in africa: A purported ...

“Now we cannot find Nana Appiah Mensah to even talk to him, he has gone into hiding and is only talking on twitter. He should come out and talk to us on how he is going to refund our money to us,” were the words of Francis Owusu, Public Relation Officer of the Aggrieved Menzgold Customers while speaking on Accra ...

The Chief Executive Officer (CEO) of the collapsed Beige Bank, Mike Nyinaku, has said he was never arrested by police for selling the defunct bank’s properties contrary to some media reports. Mr. Nyinaku told Citi News he has only been invited by police, most recently over an enquiry into the disposal of some vehicles. “Because the security agencies are investigating ...

The Ghana Revenue Authority has seized some assorted beverages on sale at the bar and stores of Kempinski Hotel Gold Coast City , Mövenpick Ambassador Hotel and a host of others over non-compliance with the tax stamp law. The liquors include Chase Vodka, Martin Blanco, Havana Club, Chivas Rigal, Willam Chase Elegant, Russian Standard Vodka, Hemey Cognac among others. The move is ...

Business magnate Papa Kwesi Nduom has urged his staff not to give up despite the challenges his bank, GN Bank, appears to be going through. Ndoum, in a subtle attack on the Central Bank, compared the measures being adopted by the Bank of Ghana in cleaning the financial sector to an approach taken by the Liberia Central bank when they ...

COCOBOD says claims it has invested the first tranche of the $1.34 billion syndicated loan at bank with the hope of earning interest on the money are false. “We do not invest monies earmarked for cocoa purchases with the banks,” COCOBOD said in a statement signed by its Chief Executive, Joseph Boahen Aidoo. Minority Spokesperson on Finance, Cassiel Ato Forson ...

A total of about sixty (60) people who lost their investments to defunct savings and loans company, DKM, have reportedly committed suicide after failed attempts to retrieve their monies. Chairman of a group called Brong Ahafo DKM Victims Investment Association, Nana Nyarko, said all attempts made by the association proved futile and that has led many to self-destruct. “Many have ...

Daily Guide Newspaper is reporting that the Chief Executive Officer (CEO) of the defunct Beige Bank, one of the five financial institutions that were merged into an entity known as Consolidated Bank Ghana Limited, has been arrested. Mike Nyinaku was said to have been arrested at Takoradi where he was engaged in the disposal of properties belonging to the defunct ...

Vice President Dr. Mahamudu Bawumia says confidence in the Banking sector of Ghana cannot be purchased by sector players but can only be earned through the policies and measures they put in place. Addressing members of the Chartered Institute of Banks at their 22nd National Banking Conference at the Accra International Conference Centre, the Vice President said “confidence in the ...

With the clock fast ticking for universal banks to recapitalise, the fate of six out of 28 is still in limbo. As it stands now, there are no concrete signs that the six banks (names withheld) are succeeding in their frantic attempts to beat the deadline of December 31 this year, to raise their stated capital to GH¢400 million. This ...