BUSINESS

An exclusive financial autopsy report into the collapse of Capital bank has revealed its majority shareholder used 80m of depositors and public funds for his personal piggy bank. The exclusive report to Joy News shows Mr Ato Essien who founded the bank, “flouted all banking and risk management rules” in the management of monies saved there by its customers. The ...

After decades of difficulties in Nigeria over crude theft, pollution and oil-related corruption, Royal Dutch Shell Plc still feels optimistic a fossil fuel can improve life in the country. The Anglo-Dutch oil major is seeking to develop Nigeria’s domestic energy market around natural gas. It’s plentiful, harder to steal, better for the environment and can underpin a robust industrial sector ...

The fate of staff of five banks collapsed by the Bank of Ghana to form the new Consolidated Bank Ghana (CBG) Limited, will be decided after 60 days, Joy News has learned. Chief Executive Officer and Managing Director, Daniel W. Addo in an August 1 letter, informed the staff of the folded banks who have been absorbed into the newly ...

The Economic and Organised Crime Office (EOCO) has invited the CEO of Menzgold Nana Appiah Mensah over the operations of the gold investment company. The Bank of Ghana (BoG) on Tuesday, August 7, 2018 issued a public notice that it is in discussions with relevant regulatory authorities to sanction Menzgold Company Limited for engaging in “solicitation, receipt of money or ...

Chief Executive Officer (CEO) of Menzgold Ghana Company Limited, Nana Appiah Mensah, NAM1, has described as the “joke of the day”, the central bank’s latest public warning to his company to stop taking deposits or face sanctions. The Bank of Ghana (BoG) on Tuesday, 7 August 2018, issued its fourth public notice that it is in discussions with relevant regulatory ...

For consistently championing the progress of the indigenous people of Adabraka, the chief of the area, Nii Agyabeng Tetteh II has conferred on GN Bank, a citation to show his palace’s and people’s appreciation. Speaking at the presentation, Nii Agyabeng expressed his delight with the manner in which GN Bank conducts its operations in the locality, stating that his palace ...

Chief Executive Officer Menzgold Ghana Company Limited, Nana Appiah Mensah has described the Bank of Ghana (BoG) as a ‘joke.’ His remark followed a public notice by the central bank indicating that it was moving against Menzgold. According to the regulator, Menzgold, which is known as a precious minerals trading company, is carrying out unlawful transactions by taking deposits. But ...

The Chief Executive Officer of the newly established Consolidated Bank has written to customers of the merged banks to assure them of the solid financial background of the bank. In a text message to customers, Daniel Addo who was Executive Director and Chief Business Officer of Oakwood Green Capital Limited, also promised excellent customer relations at their numerous branches across ...

Mobile network operator, AirtelTigo has become the first service provider to launch data bundles with “no expiry” for new and existing pre-paid customers in the country. With ‘Big Time Data Bundles’, customers will be able to get more data value than anywhere else for ¢1, ¢2, ¢5 and ¢10. The bundles will also enable customers to access their social media ...

The Bank of Ghana has made public what it describes as the “key findings” of KPMG, the Official Administrator of local bank, uniBank, which was recently merged with four other struggling local banks by the central bank, to form The Consolidated Bank Ghana Limited. uniBank has been under KPMG’s administration since March after the central bank intervened to save it ...