An investment fund, InvestCorp Mid-Tier Fund, closed the 2019 year with a yield of 18.29 per cent. This is 3.59 percentage points higher than the 91-Day Treasury Bill yield. The fund’s Assets Under Management (AUM) also grew to GH¢17.23 million within the same period, representing a growth of 23.1 per cent. This was disclosed by the Managing Director of InvestCorp Asset Management Ltd (InvestCorp) – the fund manager, Mr Henry Sunkwa-Mills, at its Annual General Meeting (AGM) in Accra last Monday. He attributed the growth in the fund’s AUM to its competitive returns which drove the 44 per cent increase...
G-Money partners Eliho Ghana Ltd for digital payment in cocoa farming sector
GCB Bank Limited has partnered Eliho Ghana Ltd. to facilitate the transfer and receipt of funds in the cocoa farming and purchasing ecosystem, using the G-Money platform. The partnership is an outcome of the Bank’s interest in providing financial inclusion for the partially banked and unbanked population of the country and to provide smooth financial operation support for Eliho and other supply chain networks and partners. A press statement signed by the head of Corporate Affairs Department of GCB Bank Limited, Emmanuel Kojo Kwarteng said the G-Money platform will also enable Eliho to pay purchasing clerks (PCs) with virtual funds...
GCNet challenges staff redundancy award in court
The Ghana Community Network Service Limited (GCNet) has filed a motion at the Accra High Court (Labour Division) challenging the enforcement of an arbitration award to its workers. The company is seeking the intervention of the court to set aside the award which directed the management to pay a redundancy package of 30 per cent of salary and other allowances including rent, transport, fuel, car maintenance and education grant subsidies to the workers. The court will move on October 15, 2020, by counsel for the applicant to be heard. Applicant case In the motion on notice filed on October 5,...
Axis Pensions initiates educative programme on personal finance
AXIS Pensions Trust Limited has rolled out an educative programme on personal finances to help sensitise the public to the rudiments of proper financial management. Dubbed ‘Axis Smart Money Talk,’ the programme features a discussion with an expert on finance and is broadcast virtually on the company’s Facebook page. In a release on the programme, Axis Pensions said the initiative was meant to help answer the “many pressing questions” that Ghanaians had on personal finance. It said in spite of the pertinent nature of personal finances, not many people were exposed to information that would help them take the relevant...
Future of Business Programme launches in Ghana
Business for Peace Foundation has announced the launch of their Future of Business programme, a new global impact-driven event series focused on accelerating development towards the UN Sustainable Development Goals (SDGs) through investments and entrepreneurship in the Global South. In collaboration with the United Nations Development Programme (UNDP) and International Chamber of Commerce (ICC) the launch of the programme coincides with the announcement of the For Better Business Together (4BBT) programme – an effort to promote local initiatives throughout Ghana to strengthen green and sustainable economic development within the business sector. The Future of Business programme offers a new way...
Ghana International Bank appoints new Head of Coverage for Africa
Ghana International Bank plc has announced the appointment of Baafuor Ohene Abankwa as Head of Client Coverage for its Africa Business. He will be responsible for managing the African Coverage Team and is tasked with leading the growth into new markets in East and Central Africa whilst ensuring the continuous delivery of value to the existing client portfolio in West Africa. Prior to this appointment, he was the Head of Client Coverage for West Africa and drove growth in the Bank’s business in the sub-region, particularly with Financial Institutions. He had previously worked with Republic Bank (Ghana) Limited, Ecobank Ghana...
Govt puts Agyapa Royalties listing on hold
The government has decided to suspend the launch of the Initial Public Offer (IPO) of the Agyapa Royalties deal on the London Stock Exchange (LSE). The Ministry of Finance has said it does not intend to proceed with the IPO ahead of the results of the corruption risk assessment by the Office of the Special Prosecutor. In a letter signed by a Deputy Minister of Finance, Mr Charles Adu Boahen, the government served the notice that it will not proceed with the IPO until the Special Prosecutor concludes ongoing corruption risk assessment on it. The government had planned to launch the IPO...
600 stimulus package applicants get assistance
The National Board and Small Scale Industries (NBSSI) has been inundated with compliant from businesses seeking assistance to complete their application processes in order to access the stimulus package. In an interview with the Graphic Business on October 3 in Accra, the Public Relations Coordinator of the NBSSI, Mr Kestine Owusu Poku, said the board received about 600 businesses that were seeking assistance to complete their applications process and those seeking update on their application process after it opened its doors to the public on October 2. Day out Dubbed, “NBSSI Day Out,” the event, held at the forecourt of...
2 Firms partner to improve insurance accessibility
An insurance firm, Hollard Ghana, has announced the addition of general insurance to its partnership with a retail outlet, Melcom Limited, following endorsement by the National Insurance Commission (NIC). Already offering Hollard life insurance products, the addition is to enable Melcom Limited to offer non-life insurance products to its shoppers at convenient Hollard on-the-go booths available in selected shops. A press release issued by Hollard Ghana on September 28 stated that the addition was to strengthen the insurance and retail industry’s pioneering partnership to widen insurance penetration and make it more accessible to many Ghanaians. The full array of insurance...
Guinness donates to curb spread of COVID-19
Guinness Ghana has donated prescribed safety tools worth GH₵692,000 to tourist and bar operators to support efforts by the government to curb the spread of the coronavirus disease (COVID-19) in the country. The amount went into veronica bucket distribution and educational posters to drive adherence to the COVID-19 safety protocol among others to keep tourist sites and bars as well as consumers safe. The Corporate Relations Director of Guinness Ghana, Ms Sylvia Owusu-Ankomah, who made this known to the media on October 2 in Accra, said the management of the pandemic required collaboration among stakeholders. “Our priority is the safety...