Latest business news in Ghana from YEN.
A 39-year-old employee of Groupe Nduom (GN) Bank now savings and loan company has been put before an Accra Circuit Court for allegedly misappropriating cash in the sum of GH₵732,000. Eric Holon was a branch manager at Miotso.
The President of UT Holdings, Prince Kofi Amoabeng has disclosed that he believes the defunct UT Bank which he founded could have survived if the Bank of Ghana had given them time to turn around its operations.
An American TV host, Bianna Golodryga, has described Ghana's economy as one of the hottest and fastest growing economies in the world now. According to her, Ghana's economy is even growing at a faster pace than the US'.
About $190m in cryptocurrency has been locked away in a online black hole after the founder of a currency exchange died, apparently taking his encrypted access to their money with him.Cotten, 30, died in India in December 2019.
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Life insurance is a growing market in the Ghanaian financial services sector which averages above 20 per cent per annum growth in terms of gross premium income for the past five years. This growth trend is expected to continue.
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ECB, which is a respected certification body for persons, management systems, and products on a wide range of international standards, said in its correspondence to the erstwhile management of Heritage Bank. YEN.com.gh news.
A number of customers of GN Savings and Loans, a financial institution that was until recently a licensed commercial bank, gathered at the company’s head office in frustration, to demand back their investments.
A Ponzi scheme is an investment fraud that involves the payment of purported returns to existing investors from funds contributed by new investors. Ponzi scheme organizers often solicit new investors by promising to invest funds.
Among the 91 individuals and companies, Beige Group Ltd., Beige Village Ltd., Express Savings and Loans Company Ltd., Firstbanc Ltd., and Liberty Asset Management Ltd. among others were the notable firms owing the two banks.
YEN.com.gh is in possession of a video of a woman who has angrily demanded that the government takes action with regard to the Menzgold scandal. Angrily facing a camera, she stated that Nana Appiah Mensah is in Ghana.
EOCO, has seized over 40 luxurious cars and mansions belonging to NAM1 which could possibly be sold to settle his indebtedness to his customers. It appears all hope is not lost for individuals who have their investments there.
The Social Security and National Insurance Trust has given a lifeline to pensioners with the presentation of a GHC 500,000 cheque to the National Pensioners Association into Pension Medical Scheme to cater for their health needs.
Making mockery of them or blaming politicians will do very little to mitigate their pain, a kind word of sympathy from us to each person who has suffered losses would go a long way to put their heart at rest. Mr. Ibrahim providing
According to him, a number of persons in high-profile positions were among customers whose investments have been locked up with the company but because of the greed tag by other people, they were unwilling to show up.
It had been widely expected that Menzgold CEO, Nana Appiah Mensah, will be brought from Dubai but according to a joint statement from the Police and EOCO on Friday evening, NAM 1 could only be released after his trial in the UAE.
Databank is a professional investment bank that is licensed by the Securities and Exchange Commission, Ghana (SEC) to sell shares, treasury bills and bonds, as well as manage mutual funds, pension and institutional funds.
A financial analyst, Joe Jackson, has reportedly claimed that some Ghanaian celebrities are responsible for the Menzgold scandal. According to 3news.com, he claimed that Menzgold’s clients should blame Shatta Wale and others.
The workers were issued letters announcing the termination and the contracts this week after the licences of their former employers were revoked on January 4. The BoG revoked the licences of the two banks for being insolvent. YEN.
Menzgold Ghana Limited will soon outdoor a comprehensive final payment plan to settle its debts, YEN.com.gh can report. Nii Armah Amarteifio, Menzgold’s director of communications, stated that only principal amounts will be paid.
The High Court in Accra has thrown out a suit filed by embattled Menzgold Ghana Limited, against the Security and Exchange Commission (SEC) and the Bank of Ghana (BoG) challenging their regulatory role over them.
Latest business news in Ghana from YEN.