BUSINESS

President and Chairman of Groupe Nduom has revealed that more than 3,000 employees lost their jobs in the banking sector crisis in 2019. Dr Papa Kwesi Nduom explained that due to the challenges put in their way with very negative consequences, many more are likely to lose their jobs. This was contained in a Christmas message signed by Dr Nduom ...

The founder of Groupe Nduom, Dr Papa Kwesi Nduom has apologised to all his customers who had difficulties with their investments at Gold Coast Securities in 2019. In a Christmas message, Dr Nduom said 2019 has been a tough year with over 3000 of his staff losing their jobs. “This has been a particularly difficult one for us at Groupe ...

President Nana Akufo-Addo has said the government will soon make public, investigations into the circumstances that led to the collapse of some indigenous banks in the country. According to the President, preliminary investigations reveal that huge assets of the collapsed banks were diverted. In his Christmas message to Ghanaians, President Akufo-Addo said those found guilty will be dealt with. “Investigations ...

An Economist, Prof Godfred Bokpin has attributed the cedi’s depreciation to the failure of government to effectively execute ideas and plans to sustain the currency. “It is more about getting to work and not so much about getting new ideas. We have not been able to walk our talk over the years. It is about time we start getting to ...

The cedi has quickened the pace of depreciation against the US dollar in recent times, falling by an average of 0.93 per cent to the ‘greenback’ over the last four weeks, according to Bank of Ghana (BoG) data on the movement of the currency. By December 13 this year, the cedi had lost almost 13 per cent of its value ...

An Accra High Court has ordered the Bank of Ghana, the Attorney-General and the Receiver of GN Saving and Loans Limited to file their defences in response to Dr. Papa Kwesi Nduom’s case. The Court has given the three Respondents one month to file their defences. At today’s Court hearing, the Human Rights judge, Justice Gifty Addo Adjei, referred to ...

President Akufo-Addo has commissioned a $23 million dollars tomato processing factory at Afienya in the Shia Osu-doku Constituency of the Greater Accra Region as part of Government’s “One District, One Factory” (1D1F) policy. The total investment of the Leefound Food Stuff Ghana Limited is about $23 million US dollars, covering an area of about 60,000 square meters, including comprehensive production ...

The Ghana Revenue Authority (GRA) is set to tax clothing allowance of bankers in the country. A letter addressed to the Banking Association and sighted by Starr News noted an agreement has been reached over the move between the two bodies. “As was discussed in relation to taxation of clothing allowance paid by members of your Association, we wish to ...

Menzgold has announced it intends to pay all locked up investment of its customers within three years. In a much-awaited payment schedule, the company said customers who did not receive any interest on their investment from the start of contract will be the first to be paid beginning Friday, December 27. Below are details of a statement by Menzgold Menzgold ...

Lawyer for Menzgold Kwame Akuffo has distanced himself from the payment procedure announced by the gold firm Wednesday. Menzgold has announced in its statement that the payment will be done through their lawyer since they do have access to their office premises. “Claims shall be settled in full and shall be subject to an invitation from our legal team; Kwame ...