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 […]
The Chairman of the finance committee of Parliament Dr. Mark Assibey-Yeboah says he does not expect the finance Minister Ken Ofori-Atta to announce any new taxes in the 2020 budget to be presented next week Wednesday. According to the New Juaben South MP, The Akufo-Addo administration is a caring government and thus will not seek […]
GIHOC Distilleries Company Limited, a state-owned manufacturer of distilled and alcoholic beverage brands, has outlined plans to set up five fruit-based alcohol plants known as Standardisation Depots under the One District-One Factory (1D1F) initiative of the Akufo-Addo government. The factories are to be located in five selected agricultural communities in the country namely, Techiman, Goaso, […]
Management of a goods trading firm Promaxxe is cautioning the public against activities of some fraudsters operating in the name of the company. According to management of the firm, which supplies goods from Nigeria to Ghana and vice versa, the fraudsters use mobile money numbers and accounts details of the company to dupe unsuspecting customers […]
The Commander of the Customs Division of the Ghana Revenue Authority (GRA) for the Northern Region, Assistant Commissioner (AC) Mr. Paul Kwesi Ahiakpor is perhaps going to be the happiest Man to retire from the service in style. This is because he has achieved what BestNewsGH.com investigations reveal is a very enviable feat never achieved […]
Finance Minister Ken Ofori-Atta has revealed government’s intentions of reviewing the country’s existing tax systems to introduce more private sector-led solutions in the revenue mobilisation efforts ahead of the 2020 budget presentation next week. Mr. Ofori-Atta’s comment follows the inability of the Ghana Revenue Authority (GRA) to meets its domestic revenue mobilisation targets in the […]
The Ghana Cocoa Board (COCOBOD) is optimistic that government’s plan to secure a $600 million facility from the African Development Bank (AfDB) to expand the country’s cocoa sector will be passed the next time it comes up in the House. This comes after the minority in the house raised some concerns that forced Parliament to […]
Ghana’s Auditor-General, Mr Daniel Yaw Domelevo, has surcharged Senior Minister Yaw Osafo-Maafo over a $1-million payment his office supervised in making to private firm Kroll and Associates, allegedly for no work done. Mr Domelevo told Accra-based Joy FM that Mr Osafo-Maafo has 60 days to challenge the surcharge in court. A few weeks ago, Mr […]
The Public Interest and Accountability Committee (PIAC), has asked Parliament to immediately step in and put a cap on the Ghana National Petroleum Corporation’s (GNPC) Corporate Social Investment. PIAC fears GNPC may veer off its core mandate if it continues with its current expenditure trends. The committee reiterated the position following memos emerging from the […]
McDonald’s has fired its chief executive Steve Easterbrook after he had a relationship with an employee. The US fast food giant said the relationship was consensual, but Mr Easterbrook had “violated company policy” and shown “poor judgement”. In an email to staff, the British businessman acknowledged the relationship and said it was a mistake. “Given […]
Ghanaians working for Eni Ghana Exploration and Production Ltd., an Italian oil and gas giant are crying foul over a “modern day form of slavery” introduced by management of the Ghana subsidiary. The workers numbering over 300 are at loggerheads with the management of the Eni Ghana Exploration and Production Ghana Limited over unfair labour […]
