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Govt raises GHS988m domestic bond

Finance Minister, Ken Ofori-Atta

Government has raised a total of 988 million cedis bond at a rate of 19.5 percent. The three-year domestic bond which was issued yesterday was also opened to non-resident investors. There is more in this report. An initial guide price for the bond which was open to non-resident investors was set at between 18.75 percent and 19.5 percent. The listing ...

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MTN shares soar despite incomplete investors’ data

MTN-House-Pix

It has emerged that MTN is yet to complete the reconciliation of information of some investors who bought into the company’s shares almost two months after the company listed on the Ghana Stock Exchange. As a result, managers of the stock market are anticipating increased trading activities on the exchange after the processes are completed. The Managing Director of the ...

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Court strikes out name of one defendant in defunct uniBank case

Clifford Mettle

An Accra High Court hearing the case between the Receiver of Defunct uniBank, Nii Amanor Dodoo and shareholders of the bank has struck out the name of one of the defendant, Clifford Duke Mettle. Mr. Clifford Mettle was an executive director of defunct unibank until the Bank of Ghana revoked its license this year. The action, according to the court ...

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CUTS Ghana seeks strict tax enforcement in 2019 budget

Finance Minister, Ken Ofori-Atta

As the Finance Minister, Ken Ofori Attah prepares to submit the 2019 budget statement and economic policy to the government, several civil society groups have been sending their inputs for consideration. One of such is the CUTS Group which is primarily concerned with competition and how it affects the consumer. Among the proposals put forward include the need to enforce ...

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Minister urges Ghana-China talks on access to Yuan in Ghana

yuan-money-14108172

A Deputy Foreign Affairs Minister, Charles Wiredu has waded into debate on the use of Chinese Yuan by Ghanaian traders, asking the government to consider discussions on the issue. He says the move should facilitate easy trade and investment between the two countries. Many business associations have made an appeal to the government to enable them direct access to the ...

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IMF reviews Ghana’s 2018 GDP down to 6.3%

IMF

The International Monetary Fund (IMF) has revised downwards its earlier 6.8 per cent Gross Domestic Product (GDP) projection for the Ghanaian economy in 2018 to 6.3 per cent. According to the Bretton Woods institution’s latest World Economic Outlook Report on World Economy and Financial Surveys, the economic growth will however be higher at 7.6 per cent GDP in 2019 but ...

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Mobile Money interoperability crosses the 1million mark

Mobile Money

Cross mobile money wallet transactions otherwise known as mobile money interoperability, has recorded over 1.1 million volume of transactions, from its inception some five months ago. The over 1.1 million transactions was recorded at the end of September, the latest data from the Ghana Interbank Payment and Settlement System (GhIPSS), indicates. The total value of cross network transactions amounted to ...

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SEC responds to Menzgold suit to appear in court

sec

The Securities and Exchange Commission (SEC) has filed an appearance to respond to a suit brought against it by Menzgold. The gold dealership company has sued the SEC and the Bank of Ghana asking that the court directs the two institutions to stop interfering in its business. Menzgold in its writ also wants the court to stop the two regulators from ...

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Aggrieved customers give Menzgold 4-week ultimatum to pay returns

menzgold

A group calling itself aggrieved traders of gold dealership company, Menzgold has given the company a four-week ultimatum to pay 50% principal investments of all customers. The group made this known at a press conference to drum home their demands following the refusal of the company to honor contract obligations of paying them their investment returns. The press conference was ...

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Capital, UT Bank collapse: PwC recovers 15% of total loan stock

UT

The Joint Receivers of collapsed UT and Capital banks, PricewaterhouseCoopers (PwC), has disclosed that it has recovered fifteen percent (15%) of the total loan stock of the two banks. A statement on the progress of work done over the last one year said that the receivers are pursuing legal action against defaulters of loans of the two banks and will prosecute ...

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