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Tag Archives: PwC

Consolidated bank given bond cash – BoG Governor

Governor of BoG, Dr. Ernest Addison

The Bank of Ghana has clarified that it has made available cash from the bond issued in the name of the Consolidated bank. According to the Governor of the central bank, Dr. Ernest Addison, the move has helped in positioning the bank to undertake its business as usual. His comments come on the back of concerns by some analysts following the ...

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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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One year on; Receiver still pursuing UT, Capital cash [Audio]

Vish Ashiagbor - Country Senior Partner, PwC

Interested parties to benefit from proceeds of the disposal of assets and liquidation of same of defunct UT and Capital banks may have to wait a little longer. This is because the Joint Receiver for the defunct UT and Capital banks, Pricewaterhouse Coopers has stressed that the processes, majority of which are legal, could take more time than expected. The ...

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Leaked UT, Capital bank report independent of investigations – PwC

Vish Ashiagbor - Country Senior Partner, PwC

The Joint Receivers of defunct UT and Capital banks, PricewaterhouseCoopers (PwC), has ruled out any impact of disclosures on questionable dealings by the former directors and shareholders, on its investigations. Documents sighted by Citi Business News have showed that the former shareholders of the two banks, engaged in related party transactions among other unapproved activities which led to the collapse ...

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Banking sector faces distortion over ¢2bn bond for UT, Capital banks’ debt

ut capital

Government’s decision to absorb the liabilities of UT and Capital banks could weaken the financial industry if not managed properly. This is the warning from Economist, Dr. Ebo Turkson. According to him, the assurance of absorption of debts after a possible collapse could make private banks less competitive in giving value for money for customers. The government is hoping to ...

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GCB Bank absorbs 70% of UT, Capital banks’ staff

ut capital

GCB Bank has absorbed about seventy (70) percent of the permanent staff of defunct UT and Capital Banks. It follows the completion of the full integration of the systems of the two banks. A statement on the issue and copied to Citi Business News said, “As a result of the integration, staff numbers have been rationalized and GCB has absorbed ...

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Creating 350,000 jobs will be tough unless – Economist

Prof. Godfred Bokpin - Head of Finance, University of Ghana Business School

Economists have told Citi Business News that it will be tough for government to achieve its job creation agenda for 2018 if the country continues to rely on the oil sector. According to them, it will be prudent to invest and grow the real sector of the economy (comprising agriculture, industry, among others) to drive the ambitious initiatives to be ...

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Analysts criticize extension of fiscal stabilization levy

Partner with Pricewaterhouse Coopers (PwC), Ayesha Bedwei

Tax analysts have criticized government for not scrapping the National Fiscal Stabilization Levy in the 2018 budget. They describe the continuous imposition of the tax as disappointing. For instance a Partner with Pricewaterhouse Coopers (PwC), Ayesha Bedwei believes the move rather punishes some compliant taxpayers. The National Fiscal Stabilisation Levy (NFSL), introduced in 2013, was among others to support the ...

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PwC asked to clarify jobs termination at UT, Capital banks

ut capital

Some labour analysts are demanding clarity from Price Waterhouse Coopers (PwC) in the decision to terminate the contract of employees of defunct UT and Capital banks. They argue that the terms indicated in the termination letters served the employees of the two banks may be short of the labour law which protects the interest of employees in cases of insolvency. ...

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Contract of UT, Capital bank workers terminated

Capital-Bank- RIP600x330

Pricewaterhouse Coopers (PwC) has commenced issuing letters to staff of former UT and Capital Banks. PwC is undertaking this exercise in its capacity as the receiver of the purchase and assumption agreement between GCB Bank and the two defunct banks. Information available to Citi Business News indicates that the letters are being served to all employees of the two affected ...

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