The Securities and Exchange Commission (SEC) has directed gold trading firm Menzgold Ghana Limited to shut down their investment operations with immediate effect for contravening the Securities Industry Act, 2016 (Act 929).
President Nana Addo Dankwa Akufo-Addo, has assured the Ghanaian people that “those responsible for the sequence of activities that led to the ‘banking crisis’ will face the full brunt of the law if they are found to have broken the law”.
The Bank of Ghana (BoG) has stepped up its supply of United States (US) dollars to meet daily demands for foreign exchange as global pressures and the exit of investors from emerging markets cause the cedi to depreciate.
Some aggrieved customers of the Kantamanto branch of uniCredit Savings and Loans company have, for the past two weeks, thronged the premises of the Kantamanto branch of the company to withdraw their savings following claims that the financial institution is folding up.
The public purse has been saved GH¢910.4 million within a year following stringent measures instituted by the National Petroleum Authority (NPA) to curb illegal activities in the downstream petroleum sector.
Gold dealership firm Menzgold Ghana, with business interests in London, Spain and Nigeria, has engaged the services of UK and Wales based law firm, Baker & McKenzie LLP to join forces with their local counsel, Kwame Akuffo & Co. Unlimited to take up its current spat with the Securities and Exchange Commission.
A Ghanaian delegation attending the 2018 Telecom World Conference and Exhibition in Durban, South Africa is leaving nothing to chance at the conference, showing off the West African country’s rich culture and digital innovations.
High import duties, coupled with the lack of support from the government, are thwarting efforts by Kantanka Automobile Company Limited to expand and export to other West African countries, the General Manager of the company, Mr Francis Kojo Kujoji, has said.
Customers of Menzgold Ghana Limited have besieged the premises of the gold dealership firm in East Legon to retrieve their deposits following an order by the Securities and Exchange Commission (SEC) directing the company to shut down their investment section with immediate effect.
The Minister of Energy, Mr John Peter Amewu, has taken a swipe at local Ghanaian companies that continue to front for the International Oil Companies (IOCs) instead of taking advantage of provisions in the Petroleum (Local Content and Local Participation) Regulations, 2013, LI 2204, to play an active role in the sector.