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Access Bank Ghana appoints new Managing Director

Access Bank (Ghana) Plc. announces the appointment of Mr. Olumide Olatunji as its new Managing Director

Access Bank (Ghana) Plc. announces the appointment of Mr. Olumide Olatunji as its new Managing Director, effective December 5, 2018. He replaces Mr. Ifeanyi Njoku who has now taken up a new role within the Access Bank Group to support the Bank’s expansion drive in line with its new 5-year strategic growth plan. His appointment follows the successful nomination and ...

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ADB is not delisting from stock market – Kofi Yamoah

Kofi Yamoah - MD, Ghana Stock Exchange

The managers of the Ghana Stock Exchange have dismissed claims that ADB is planning to delist from the stock exchange. There have been reports that the new majority shareholders of ADB had taken the decision. But the Managing Director of the stock exchange, Kofi Yamoah insists that is not the case. “I have been privy to conversations on this subject ...

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Fidelity bank appoints Julian Kingsley Opuni as new MD

Julian Kingsley Opuni, Managing Director, Fidelity Bank

Fidelity Bank has appointed Julian Kingsley Opuni as its new Managing Director. His appointment took effect on December 1st 2018. Mr. Opuni takes over from Jim Baiden who retired as the MD of the bank in October 2018. Until his appointment, he was the Deputy Managing Director; a position he held since November 2017. Julius Kingsley Opuni is an experienced banker ...

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Business of Christmas: Secondhand cloth dealers lament low sale

secondhand-clothing-market-moz

With few days to the Christmas,  dealers in secondhand children clothing are complaining of low sales. A visit to the Makola and Kantamanto markets in the central business district of Accra, revealed that the sale of both brand new and secondhand clothing for children is yet to see some boost. At the Makola market, several shops displayed brand new clothing ...

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EOCO retrieves GHC51m for GRA

EOCO

The Economic and Organized Crime Office (EOCO) says it has recovered over GHC 51 million for the Ghana Revenue Authority(GRA), from corrupt individuals and businesses in 2018. Speaking at a Multi-Stakeholder Business Integrity Breakfast meeting in connection with the Anti-Corruption and Transparency Week, the Executive Director of EOCO, K. K Amoah stated that, with the help of the private sector, ...

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First National Bank to rely on parent company to meet capital requirement

CEO of First National Bank Ghana, Mr. Richard Hudson

First National Bank Ghana, has announced that its parent company FirstRand Limited in South Africa will help the bank meet the new minimum capital requirement of Four Hundred Million Cedis. A statement from the bank copied to Citi Business News said, “First National Bank is committed to serving the needs of our customers in Ghana” said Richard Hudson, CEO of ...

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IMF boss Christine Lagarde visits Ghana on December 16

IMF Managing Director - Christine Lagarde

The Head of the IMF, Christine Lagarde is scheduled to visit Ghana ahead of the country’s completion of the program with the Fund. Miss Largarde’s trip to Ghana is scheduled for December 16 to 18, 2018. Deputy Information Minister, Pius Hadzide disclosed this at a media briefing on Wednesday [December 12, 2018]. According to him, the IMF boss’ visit ‘marks ...

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ADB seeks shareholders’ approval to raise GH¢380m for recapitalisation

adb-logo

ADB has announced that it will embark on a renounceable right to issue to raise 383 million cedis to help it meet the minimum capital requirement. This decision is however subject to shareholders’ approval at the bank’s Annual General Meeting. The AGM is scheduled for Thursday, December 20, 2018. According to ADB, it is also to seek shareholders approval to ...

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The Seed Funds partners Kenya’s 4G Capital NxtGen

seed

The Seed Funds (TSF) Savings & Loans company limited, has partnered with 4g capital (a Kenya based Mauritius registered) fintech company to launch the NXTGEN platform in Ghana. NXTGEN platform will enable TSF get deeper the underserved MSME sector across Ghana in an automated and cost effective way. TSF will use the NXTGEN platform to support the ‘last mile’ retail ...

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Energy Bank-First Atlantic Bank merger needs additional investor—Consultant

Banking Consultant, Dr. Richmond Atuahene

A Banking Consultant, Dr. Richmond Atuahene has stated that the proposed merger between Energy Commercial Bank and First Atlantic Bank will require strategic investors to meet the 400 million cedis capital requirement before the deadline. Describing the issue as crucial, he maintained that the two banks have little time to seek new investors hence must move quickly. Banking Consultant, Dr. ...

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