Banking & Finance

Vodafone makes two senior management appointments

Vodafone Ghana has announced two key Senior Management appointments as it continues to chart a leadership course in innovation and creativity across the Telecommunications landscape. Following its entry into the industry, Vodafone has been at the forefront of a transformational agenda, introducing dynamic products and services for customers and maintaining a key voice in thought-leadership. The appointments are to provide ...

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Equity market post mixed results

Equity market indices posted mixed performances, with the index for the financial sector weighed on by speculative actions, profit talking and heightened uncertainties ahead of the deadline for the new minimum capital requirements for banks. The benchmark index, on the other hand, surged on the back of the price advancement in the heavy capitalised telecommunication stock. At the closing bell ...

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Bank fraud up by 42% in just a year – BoG

Between 2016 and 2017, fraud cases in the banking sector increased by 41.66 per cent from 1,002 cases in 2016 to 1,418 cases in 2017, the Bank of Ghana (BoG) has disclosed. The total value reported for fraud or attempted fraud, according to the BoG amounted approximately to GH¢190.4 million. Of the total value, GH¢160.30 million, representing 84 per cent, ...

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Finance Minister charges GRA to recover GH¢4.4bn from tax defaulters

The Minister of Finance, Mr Ken Ofori-Atta, has asked the Ghana Revenue Authority (GRA) to go all out to enforce tax laws to help recover GH¢4.4 billion from 427 corporate tax defaulters and other entities. He disclosed that companies in the Customs Division of the GRA owed GH¢4 billion while others in the Domestic Tax Revenue Department (DTRD) also had ...

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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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