The Minority in Parliament is demanding the resignation of Finance Minister Ken Ofori Atta over alleged conflict of interest. The opposition MPs claim a close associate of Mr. Ofori Atta was offered a deal to buy more than 90 percent of the country’s $2.25 billion bond. The investor, Trevor Tref-game is also the chairman of … Read more
Deputy Information Minister Kojo Oppong-Nkrumah says “nothing untoward” happened with the $2.25 billion bond issued by government to arrest Ghana’s suffocating debt burden. Speaking to Joy News, he said the issues raised by the minority in Parliament over the bond are aimed at taking the shine away from the successes chalked by President Nana Addo … Read more
The Minority in Parliament has asked for a probe into government’s local bond issued some days ago, citing a conflict of interest situation involving the Attorney-General (A-G). The National Democratic Congress (NDC) MPs at a news conference in Accra Tuesday said the bond issued by the Finance Minister Ken Ofori-Atta also lacked transparency. Former Deputy … Read more
The Deputy Minister of Finance, Charles Adu Boahen has revealed that the government’s debt management plan will save the country the burden of seeking one billion cedis every week to repay its debts. According to him, the relatively high interests on short term debts estimated over 20 billion cedis, has made it difficult to repay. … Read more
The Deputy Minister of Finance, Charles Adu Boahen has revealed that the government’s debt management plan will save the country the burden of seeking one billion cedis every week to repay its debts. According to him, the relatively high interests on short term debts estimated over 20 billion cedis, has made it difficult to repay. … Read more
Renowned banker Mr Jude Arthur has been appointed Board Chairman of GCB. His appointment takes effect from the 6th of April, 2017. He takes over from Mr Daniel Owiredu who resigned as board Chairman of the bank on the 3rd of April, 2017. Mr Jude Arthur graduated from the University of Ghana Business School with … Read more
Renowned banker Mr Jude Arthur has been appointed Board Chairman of GCB. His appointment takes effect from the 6th of April, 2017. He takes over from Mr Daniel Owiredu who resigned as board Chairman of the bank on the 3rd of April, 2017. Mr Jude Arthur graduated from the University of Ghana Business School with … Read more
GCB Bank makes changes to the composition of its board Former Deputy Finance Minister Mrs Mona Quartey and former CEO of the National Petroleum Authority (NPA), Mr Moses Asaga, have resigned from the Board of Directors of GCB Bank. Also resigning from the board are former chair Daniel Owiredu and Ms Faustina Nelson. Meanwhile, Mr … Read more
Former Deputy Finance Minister Mrs Mona Quartey and former CEO of the National Petroleum Authority (NPA), Mr Moses Asaga, have resigned from the Board of Directors of GCB Bank. Also resigning from the board are former chair Daniel Owiredu and Ms Faustina Nelson. Meanwhile, Mr Jude Arthur, an accomplished banker, has been appointed Board Chairman … Read more
Ratings agency Fitch said Friday it had cut South Africa’s credit rating to junk status, citing the recent political instability prompted by a controversial cabinet reshuffle. The agency downgraded the country’s sovereign debt rating from ‘BBB-‘ to ‘BB+’ but kept the outlook stable. It said the downgrade reflected the view that “recent political events, including … Read more
A former deputy Finance Minister, Cassiel Ato Forson, says the allocation of GHC1.576 billion by the government to the District Assembly Common Fund in the 2017 budget is in clear breach of Ghana’s constitution. He argued in a Facebook post Monday that the allocation falls short of the five per cent of the country’s total … Read more
South Africa’s Deputy President Cyril Ramaphosa has described the sacking of Finance Minister Pravin Gordhan as “totally unacceptable”. His late night dismissal led to a 5% plunge in the value of the currency, the rand. Mr Gordhan was seen as a bulwark against corruption in an administration that is facing growing criticism. He was one … Read more
A Deputy Minister of Finance-designate and the Member of Parliament (MP) for Obuasi West, Kwaku Kwarteng, told the Appointments Committee of Parliament which vetted him yesterday, that the bold decision taken by the Nana Akufo-Addo administration to limit borrowing on the domestic market, and also scrap obnoxious taxes, has already started yielding fruitful results. According … Read more
A Deputy Finance Minister designate, Charles Adu Boahen has warned against capping the number of banks in the country. Calls for a cap on the number of banks in the country have increased following the rising number of banks in the country. There are currently 33 banks operating with the number expected to rise to … Read more
A Deputy Finance Minister nominee, Kwaku Kwarteng, has noted that the three-year International Monetary Fund (IMF) bailout programme, has taught the country a lesson that such programmes will not automatically lead to development. He explained that the programme has emboldened the country to take hold of its economic capabilities to be elf-reliant instead of relying … Read more
There are fears that government’s decision to withdraw legitimately and lawfully granted tax exemptions from strategic investing companies in Ghana, could threaten the Government’s industrialization agenda if it is not reversed. The worry is that the move could lead to a massive drop in the inflow of strategic investments into the country, and has the … Read more
Minister for finance, Ken Ofori Atta is believed to have breached article 174(2) of the 1992 constitution, GIPC Act 2013 (865) as well as inter-country protocols on trade and investments through the withdrawal of tax exemptions from strategic investing companies in Ghana. This was largely confirmed by Kweku Kwarteng, deputy minister designate for finance during … Read more
A Deputy Finance Minister nominee, Kwaku Kwarteng, has explained that Vice President Mahamudu Bawumia never suggested that a GHc7 billion expenditure by the former NDC administration was missing. According to him, the Vice President’s comment only meant that, the expenditure was not properly accounted for within government’s financial management framework. Mr. Kwarteng’s comment comes on … Read more
A Deputy Finance Minister nominee, Kwaku Kwarteng, has explained that Vice President Mahamudu Bawumia never suggested that a GHc7 billion expenditure by the former NDC administration was missing,. According to him, the Vice President’s comment only meant that, the expenditure was not properly accounted for within government’s financial management framework. Mr. Kwarteng’s comment comes on the back … Read more
The Minority Leader Haruna Iddrisu is questioning why the Ministry of Finance is, on its own, writing to companies and revoking tax exemptions granted by Parliament. Iddrisu believes such an action by the Ministry is in flagrant violation of the 1992 Constitution. During the vetting of the Deputy Minister of Finance Kweku Kwarteng, the Minority … Read more