Gold dealership firm MenzGold Ghana has rejected claims by the Bank of Ghana that the company is conducting a banking business. In a rebuttal Tuesday evening, the Accra-based firm said the announcement by the BOG was surprising since banking has never been part of their core operations. They added that publications on this distinction had been made in national dailies …

Local banks in the country have said they are unable to comply with a directive by government to transfer monies held by government entities with local banks to the central bank under the Treasury Single Account initiative as demanded by the Public Financial Management Account (Act 921). According to the PFMA which establishes the Treasury Single Account, the initiative is …

Dr. Kwabena Duffuor II is taking over from Felix Nyarko-Pong as the Chief Executive Officer (CEO) of uniBank. His appointment is subject to the approval of the Central Bank and takes effect June 1, 2017. Dr. Duffuor until his new appointment served as the Chief Operating Officer (COO) of the multiple award-winning indigenous bank – a position he has held …

One of the emerging industrial concerns in Osun, the RLG/Adulawo Technology Company has secured a multi-billion Naira contract for the production of terrestrial broadcast set top boxes from the Nigeria Television Authority’s TV Enterprises. Making this known in Osogbo, the capital of Osun Monday evening was the Managing Director of NTA Television Enterprise, Mr Maxwell Loko, who led a delegation …

President Akufo-Addo has appointed a lead regional economist of the African Development Bank, Dr. Ernest Kwamina Yedu Addison as the new Governor of the Bank of Ghana. His appointment follows the resignation of Dr. Abdul-Nashiru Issahaku on Wednesday on “personal grounds.” According to a communication from the Presidency, a letter has been dispatched to the Council of State for consultation. …

President Nana Akufo-Addo has appointed an investment banker Dr. John Ofori-Tenkorang as the Director-General of the Social Security and National Insurance Trust (SSNIT). Dr. Ofori-Tenkorang was until his appointment working in the office of Vice President Dr. Alhaji Mahamudu Bawumia since 2014 as Technical Advisor. He has also worked with AIG Financial Products Corp. (AIGFP) as Vice President, and Banque …

Dr. Abdul-Nashiru Issahaku has resigned from his position as governor of the Bank of Ghana, information available to the GHOne TV Business News desk indicates. The 55-year-old tendered in his resignation today, 11 months after accepting the job from former President John Mahama. According to close sources, Dr. Issahaku cited personal reasons for his decision. The International Development Economist with …

Residents of Agbozume and Klikor in the Ketu South municipality of the Volta region have petitioned President Akufo-Addo over the operations of the Kensington Salt factory in the area. This was after they went on a demonstration Wednesday to protest what they said was the adverse effects of the company’s operations on their livelihoods. Clad in red attire with placards, the aggrieved …

The Bank of Ghana (BoG) has announced a reduction in the policy rate to 23.5 percent. This is by 200 basis point, according to the governor of the Bank of Ghana, Dr. Abdul Nashiru Issahaku after the conclusion of its 75th regular Monetary Policy Committee meeting. Addressing a press conference Monday in Accra to present highlights of the just ended …

Five Chinese nationals and their Ghanaian counterparts, who have been arrested over their alleged involvement in illegal mining, have been remanded to police custody. The Chinese suspects are Dong Cheng, 30; Hung Jian, 51; Ning Guorui, 42; Yin Biquiang, 46 and Li Zilong, 44. A Sekondi High Court has set April 10 for re-appearance. Prior to remanding them, a magistrate …