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UT Bank Collpase: Amoabeng granted GHC110m bail

Source: classfmonline.com The former CEO of UT Bank and Chairman of UT Group of Companies, Mr Prince Kofi Amoabeng, has been granted a GHS110-million bail with two sureties by an Accra High Court. Mr Amoabeng was arrested on Tuesday, 14 January 2020 at his office and immediately arraigned. His arrest is believed to be in connection with the collapse of ...

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How Finance Ministry ordered SEC to revoke licenses of Gold Coast Fund Management, others

Source: mynewsgh.com MyNewsGh.com has intercepted a confidential document in which the Finance Minister Ken Ofori-Atta ordered for the revocation of the license of specific Fund Management Companies including Gold Coast. The May 2019 memo shows not only that the Finance Ministry was behind the closure of Gold Coast Fund Management but also that the revocation of the licenses was done ...

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Greater Accra is most expensive region in Ghana, Ashanti among the cheapest – GSS

An analysis of the Ghana Statistical Service’s data on inflation for 2019 shows that Greater Accra was the most expensive region for consumers over the past 12 months. The country’s statistical agency which collects data on the changes in prices of food and non-food items on Wednesday, released its December 2019 data which showed that inflation in Greater Accra stood ...

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5 mind-boggling equipment at the Kantanka exhibition

The 39th edition of the Kristo Asafo Mission of Ghana’s annual Technology and Agricultural Exhibition came off in Accra on Sunday, December 29, 2019. The exhibition saw an outdoor of an aeroplane-like vehicle by the Kantanka Technological Centre of Excellence (KTCE). The car-plane was the flagship invention or product showcased on the day, but there was also an exhibition of ...

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Notable collapse in the financial sector in 2019

The financial sector experienced a shakeup few months into the year when the Central Bank, Bank of Ghana, revoked the licenses of over 300 microfinance companies and microcredit or money lending companies on Friday, May 31, 2019. According to the BoG, 192 of the microfinance companies were insolvent with another 155 ceasing operation even before the action of the regulator. ...

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Why has cedi fallen 18% under all-knowing Walewale Adam Smith? – Adongo asks

The Member of Parliament for Bolgatanga Central, Mr Isaac Adongo, has said the shortage of the US dollar and lack of confidence in the Ghanaian economy are the causes of the free fall of the cedi. In September 2018, Vice-President Dr Mahamudu Bawumia, while addressing a town-hall meeting on the government’s achievements in the first 100 days, said the free ...

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Billionaire Kevin Okyere opens up about his 27 siblings, the origin of name ‘Springfield’

Billionaire businessman and owner of Springfield Energy Kevin Okyere has opened up about his life in an interview monitored by MyNewsGH.com on growing up with his 27 siblings, his father’s wealth, what it meant for him and later how he founded Springfield Energy which has struck one of the largest oil deposits in Africa worth more than tens of billion ...

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Cement prices increased due to Cedi depreciation

Source: Kasapafmonline.com Cement manufacturing company in Ghana, GHACEM, has announced an increase in the prices of its products. According to the company, the new prices will take effect from Wednesday, 11 December 2019. Commercial Director for GHACEM, Nana Phillip Archer, in a statement, said the increment is due to, among other things, the depreciation of the Cedi against major trading ...

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