The Minority in parliament has described the 2020 budget as “unimpressive and deserves an exit”. Reacting to the 2020 budget presented by the Finance Minister Wednesday, Minority leader Haruna Iddrisu the budget should be the last one for the NPP government. “One uninspiring budget deserves an exit. Ghanaians are worse off under the Akufo-Addo government […]
The government of Ghana would spend about GHS1.5 billion of taxpayers’ money in cleaning up the Fund Management sector following the revocation of the licences of 53 asset management companies by the Securities and Exchange Commission, Finance Minister Ken Ofori-Atta has revealed to Parliament in his 2020 budget. According to him, “Over the past […]
Government is due to establish a National Development Bank (NBD), Finance Minister, Ken Ofori-Atta has announced. ‘’Mr. Speaker feasibility study for the establishment of the National Development Bank specifying the rationale, mandate, business model, legal and regulatory framework, ownership, governance and sustainability of the Bank has been completed’’ Mr. Ofori-Atta while presenting the 2020 Budget […]
The Securities and Exchange Commission (SEC) will begin accepting relevant documents for the validation of investment claims on November 18, 2019, following the revocation of the licenses of 53 Fund Management Companies. In a statement, the SEC said designated branches of Consolidated Bank of Ghana Limited (CBG) will open to receive the claims from clients who have their […]
The Securities and Exchange Commission (SEC) has distanced the recent revocation of the licenses of the 53 fund management companies from the banking sector shake-up stating that the latter is not responsible for the current happenings in the securities sector. According to SEC, although some collapsed fund managers had their funds locked up in savings […]
The Ghana Securities Industry Association (GSIA) wants the Securities and Exchanges Commission to be clear on the processes put in place for customers who invested their monies in the 53 fund management companies whose licenses had been revoked to retrieve their investments. This, the Associations says, will help minimise the adverse impacts of low investor […]
The president of the Republic, Nana Addo Dankwa Akufo-Addo, says the Strategic Partnership entered into between Cote d’Ivoire and Ghana, which is manifesting itself in our joint cocoa production and marketing policy, is already paying dividends. According to President Akufo-Addo, a Living Income Differential (LID) of UD$400 per tonne will be paid to farmers for […]
The Government of Ghana on Monday signed a US$2.6 billion Concession Agreement with African Investment (AI) SkyTrain Consortium, a South African firm, to construct the Accra Inner-city SkyTrain project. The deal, signed on the sidelines of the ongoing Africa Investment Forum (AIF) in Johannesburg, South Africa, will move forward the construction stage of the single […]
The first tranche of the ‘bauxite for development’ barter agreement, popularly known as Sinohydro deal, signed between the Government of Ghana and the People’s Republic of China has been released, the Vice President of the Republic, Dr Mahamudu Bawumia has disclosed. Speaking in Accra on Monday, 11th November 2019 at the Jubilee House, Vice President […]
The Presiding Bishop of Perez Chapel International has encouraged the thousands of customers of the various financial companies that have been collapsed by their regulators not to despair because God is working to make them “a financial sign amidst the economic chaos” and also “setting them up” for “greatness and restoration”. During his second sermon […]
The 53 fund management companies that had their licenses revoked by the Securities and Exchange Commission (SEC) were managing customers’ funds which run in excess of GH¢8 billion, Citi Business News’ sources say. The source close to the regulator said the affected companies were managing funds belonging to some 56,000 customers who had invested in […]
The Securities and Exchange Commission (SEC) has revoked the licence of Gold Coast Securities and 52 other Fund Management Companies. The action is in pursuant to Section 122(2) (b) of the Securities Industry Act, 2016 (Act 929). The revocation of the licences of the companies, according to a statement copied to Adomonline.com has become necessary to ensure […]
