BUSINESS

Ghana International Bank PLC (GIB) has been fined 5.8 million pounds by a United Kingdom regulator – Financial Conduct Authority (FCA) for failing to adhere to anti-money laundering and counter-terrorist financial controls. The breach in the anti-money laundering and counter-terrorist control, the FCA said, happened over its correspondent banking activities …

The Electricity Company of Ghana has cut a grid again to the Kumasi Kejetia Market in the Kumasi Metropolis of the Ashanti region over unpaid bills. The power was disconnected from the market by the power distribution company on Wednesday, June 22, 2022. Due to the power cut, the market …

Amid rising interest rates on the money market, Chief Executive Officer of Letshego Ghana, Arnold Parker, has revealed that interest rates on Qwikloans will increase in the coming weeks. Qwikloan, an innovative financial solution by Letshego Ghana and MTN Mobile Money (MoMo), provides short-term, unsecured, quick and convenient loans to …

Finance Minister, Ken Ofori-Atta has presented his statement on government’s use of COVID-19 funds to Parliament. This comes after the Minister was summoned before the House to answer 16 questions tabled to his Ministry from different lawmakers. Prior to his June 22nd appearance, the minister could not avail himself for the intended date …

A British subsidiary of the mining firm Glencore has pleaded guilty in a UK court to corruption offences for the second time in the last two months.It was accused of paying millions of dollars in bribes to secure access to crude oil in several African countries. The Serious Fraud Office …

 The Assistant Auditor General who doubles as  the board chairman of Brakwa Breman Rural Bank, Mr. Alexander Koomson has pleaded with rural and community banks to support small business and enterprises in their areas to expand. Speaking in an interview with the media during the bank’s 36th Annual General Meeting …

There is no need to panic about fuel shortage in the country, Mr Senyo Hosi, the Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors, has said. He said the country had one month fuel cover and urged the public not to engage in panic buying. “Yes, we …

179 customers have died as a result of their locked up cash with defunct gold dealership firm – Menzgold, Convener of Aggrieved Customers, Fred Forson, has said. Aside from the people who passed away, Forson said several others have various ailments and to some extent, are bedridden. Speaking in an …

The Ghana Maritime Authority (GMA) has given luxury or pleasure ship-owners a 15-day ultimatum to register or licence their ships or face legal actions. According to the GMA, every ship owner operating within Ghanaian waters is mandated under section 3 and 40 of Act 645 to register or licence their …

Minister for Food and Agriculture, Dr Owusu Afriyie Akoto, has reiterated that there is no food shortage in Ghana. “There is no food shortage in Ghana as is being speculated, the food situation in the regions is enough evidence, however, we recognise that food is relatively expensive due to external factors.” …