Banking & Finance

INFLATION RATES FOR AUG 2018: IMPLICATIONS FOR YOU AND ME

Inflation is generally the increase in the overall prices of goods and services within a region or area. When there is inflation purchasing power reduces. Purchasing power deals with the ability of the financial resources a person has to purchase a certain amount of goods or acquire certain services. Simply put, in times of inflation you cannot buy the same ...

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Menzgold condemns “needless” SEC directive to stop gold trading

Menzgold Ghana Limited has condemned what it describes as needless leak of a meeting it had with the Securities and Exchange Commission (SEC). The gold trading company said the leak to the media of a confidential meeting “to say the least, in very bad faith and distasteful; as it defeats our confidence in the body and an affront to cooperation. We totally condemn ...

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Wives have equal share in husbands’ properties even if they contribute nothing towards acquiring them – Lawyer

At a glance: All properties acquired by a husband technically belong to their wives too You cannot will a family land to your children even if you have properties on them because you only have “life interest” in them and not a “succession interest” – your interest ceases when you die When you develop a family property that is not shared among ...

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Total of $9.1b FDIs into Ghana generate 6,056 jobs in 2017 – Report

Ghana’s total foreign direct investments (FDIs) in 2017 generated 6,056 jobs across all sectors of the Ghanaian economy – this is contained in a detailed report on Ghana’s 2017 foreign direct investments emailed to ghanabusinessnews.com by the fDi Markets magazine, data service of the Financial Times. Ghana received $9.1 billion in foreign direct investments representing eight per cent share of ...

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African entrepreneurship central to the continent’s future prosperity

According to Old Mutual Limited CEO Peter Moyo, driving financial inclusion amongst entrepreneurs and small business owners in Africa will ensure that they are equipped with the knowledge to transform their businesses into productive and sustainable contributors to the continent’s economy. The key to this, he says, is developing a value-driven ecosystem for SMEs in Africa. “A value chain nurtured ...

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Euros, Pounds Are Also Struggling Against The Dollar – Bawumia’s Spokesperson

The Spokesperson for the Vice President, Dr. Gideon Boako, has said the assessment of the depreciating Cedi should be within the context of other currencies losing value to the dollar. Besides saying the “magnitude of depreciation is not huge”, Dr. Boako insisted that Ghanaians also take into consideration the depreciation of other major currencies. “You may think that because Ghana ...

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MTN’s presence boosts stock market’s capital to GH¢65bn

The total value of the Ghana Stock Exchange has reached 65 billion cedis. It follows the successful listing of MTN on the stock market, on Wednesday [September 5, 2018]. As a result, the telecom company has started trading its shares on the Ghana Stock Exchange. MTN concluded its IPO in July which allows the public to own a stake in ...

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I Was Chased Away By Bread Sellers In the Central Region – CEO of A1 bread

The Chief Executive Officer of A1 Bread, Godfried Obeng Boateng has revealed that he was chased away from the Central region by some local bread sellers. According to Mr. Obeng Boateng, members of the Cape Coast Bakers Association and their distributors were uncomfortable with his decision to introduce A1 in Cape Coast and decided to chase his distributors away. The ...

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CURRENCY DEPRECIATION: ONE REASON WHY YOU MUST BE CONCERNED

There are many things that are of prime concern for every nation. Currency depreciation is one of such. The implications of this situation can be beneficial and, in some cases, can be detrimental for any economy. For example, the recent currency depreciation that were experienced by Turkey and Argentina has greatly disturbed these two economies. To explain further, Consumer News ...

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Draw Lessons From Elsewhere To Revamp Banking Sector — Seth Terkper

Former Finance Minister, Mr Seth Terkper, has stressed the need for a review of the country’s banking laws to incorporate same practices as used in other advanced countries. “We need to make the necessary regulatory corrections and necessary statutory corrections, insist on proper oversight resposibilities by Parliament, and explore the possibility of placing the non-bank financial sector under a financial ...

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