The Bank of Ghana has taken action against Fidelity Bank and First National Bank Ghana by suspending their forex licenses for one month starting June 29, 2023. Besides the license suspension, the two banks have been fined 1000 penalty points for violating sections 3.4, 3.5, and 3.9 of the Ghana Interbank Forex Market Conduct rules. […]

A group of disgruntled customers from the defunct Gold Coast Fund Management has urged the government to investigate the Economic and Organized Crime Organization (EOCO) activities comprehensively. They claim that EOCO has failed to produce a server crucial to a court case. This server, belonging to the now-defunct Gold Coast Fund Management Company, contains backup […]

A delegation from Botswana, led by Finance Minister Peggy O. Serame, recently visited the solid and liquid waste treatment plants of the Jospong Group in Accra. The first stop was at Sewage Systems Ghana Limited (SSGL) at Korle Lagoon, where the delegation learned about Ghana’s process of treating liquid waste to produce clean water for […]

Mr. David Eduaful has been appointed as the Managing Director of Labadi Beach Hotel, Ghana’s premier five-star hotel. With over 30 years of experience in the hospitality industry, David Eduaful is a highly accomplished professional. He is the first Ghanaian Managing Director of a five-star hotel in the country, having previously served in various capacities […]

Six businesses, including three hotels, were apprehended by the Ghana Revenue Authority’s (GRA) Enforcement and Tax Compliance Team for failing to provide Value Added Tax (VAT) invoices. During the operation, conducted jointly by the GRA and the Criminal Investigations Department of the Ghana Police Service, officials from three hotels and three local retail establishments were […]

Fidelity Bank has restated its commitment to pursuing an ambitious strategy focused on sustainability, social impact, and responsible corporate practices. The bank has established a dedicated department called Partnerships, Sustainability & Corporate Social Responsibility to drive this agenda. This new department will collaborate with all other business departments to integrate sustainability principles into all aspects […]

Linda Yaccarino, a former NBCUniversal marketing executive, is set to become the CEO of Twitter, taking over from Elon Musk. Yaccarino recently announced the hiring of Joe Benarroch, a former NBCU executive, to join her at Twitter. She hinted at starting her new job soon with a tweet about the New York skyline, indicating a […]

In Ghana, the Bank of Ghana has taken significant steps to enhance the cybersecurity landscape for the banking and financial services industry. One of these measures involves establishing the Financial Industry Command Security Operations Centre (FICSOC), which aims to prevent, rapidly detect, share information, and respond to cyber threats targeting the industry and the nation. […]

Dr. Mohammed Amin Adam, the Minister of State at the Finance Ministry, expressed his optimism regarding Ghana’s IMF program approval and its potential impact on the country’s ratings. He emphasized recent ratings were influenced by concerns about Ghana’s fiscal situation, which is currently being addressed through the IMF program. Speaking on the PM Express Business […]

Entrepreneurs have received advice urging them to avoid overextending their businesses if they lack the financial resources, experience, and expertise to do so effectively. Instead, they should consider franchising to expand their business and increase their visibility in new areas where they currently have no presence but see potential. Florence Torsonhart, the President of the […]