NEWS

Employees under the Youth-In-Afforestation programme, are demanding their stalled allowances from the Forestry Commission (FC) and also protesting against a decision to slash their wages from GHS1,200 to GHS700. The programme was initiated by the Akufo-Addo government, as part of efforts to reduce the unemployment rate in the country. The youth say they are owed arrears for three months, a ...

Centre for National Affairs (CNA), a pressure group, has petitioned the Office of the Special Prosecutor to initiate criminal investigations into what it claims to be suspected illegal payments at the Bulk Oil Storage and Transportation Company Limited (BOST) to the previous Mahama administration. CAN, in a letter signed by its Executive Director, Samuel Odame Lartey, said it has ‘gathered’ ...

The Bank of Ghana has approved merger talks between OmniBank Ghana Ltd and the Sahel Sahara Bank. The two banks wrote to the Central Bank on August 14 about their intention to begin merger talks in order to meet the GhC400 million minimum capital requirement before the close of 2018. In a response, the BoG said: “The Bank of Ghana ...

Dr. Papa Kwesi Nduom has advised the government and the Bank of Ghana to eschew partisan politics in its bid to cleanse the financial sector. According to him, politicizing the exercise will defeat its purpose hence the need to purge the sector of politics to boost depositor and investor confidence. “It is also important to put partisan politics when it ...

South African Union Solidarity said it will sign a three-year gold sector wage deal with AngloGold Ashanti on Monday along with Association of Mineworkers and Construction Union (AMCU), without providing further details of the agreement. Gold producers have argued that above-inflation wage hikes have been adding to the cost burden in the bullion industry, which has been hit by depressed ...

One Mr kwame Asante has expressed bitterly about how the Assin Fosu Police service and the District Magistrate Court are dealing with him. In an interview with the Media, he explained that, during the world cup match between France and Argentina, he said there was a Prediction/debate between one police officer by name Officer Owusu Ansah in assin fosu and ...

The country’s fiscal deficit will improve to 4.5 percent for the full year 2018 –a situation that is expected to continue to end year 2020, Ridle Markus, Africa Strategist, ABSA, South Africa, has predicted. The country’s fiscal position has shown some improvement, as fiscal balance, including grants, as a percentage of Gross Domestic Product (GDP) improved from -9.3 percent in ...

The global and international credit ratings agency, Standards and Poor’s (S&P) has upgraded Ghana’s credit score from ‘B’ minus to ‘B’ with a stable outlook. At the same time, they have revised Ghana’s transfer and convertibility (T&C) assessment to ‘B+’ from ‘B’. In its latest release on the credit ratings of Ghana, S&P Global indicated that “the upgrade reflects our ...

The seventh state institution; the Securities and Exchange Commission (SEC), has finally succeeded in temporally shutting down the Ghanaian gold dealership company, Menzgold, effective yesterday, September 13, 2018, with the fate of over One Thousand Two hundred workers of the company at stake. Strangely, the SEC a year ago, in a public statement dated September 22, 2017, had said it ...

When the Menzgold issues started to garner public traction, not many people thought it was interesting enough to spend any time analysing them. A few of us, on the other hand, found the whole affair mesmerising. In our various comments on the subject, we warned against two extremes: Overbearing regulations and omnipotent regulators whose arbitrary, mission-creeping, and cookie-cutter approach to ...