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UK to invest £20m to boost job creation, infrastructure development

The United Kingdom (UK) government has announced plans to invest 20 million pounds into the Ghanaian Economy with the aim of boosting government’s job creation efforts and infrastructure development through a programme dubbed “The Jobs and Economic Transformation Programme.” The UK Minister of State for Africa at the Foreign and …

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IMF commends BoG for banking sector clean up

The International Monetary Fund (IMF) has described the recent Bank of Ghana action on some banks as crucial for stability and confidence in the financial sector. IMF country representative to Ghana, Dr Natalia Koliadina, told Joy Business although the BoG clampdown is belated, the timing is still right. “I think …

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UMB funds US$10.7m 1D1F starch factory

Universal Merchant Bank (UMB) has signed a US$10.7million funding agreement with Central Sugar Company Limited for the establishment of a starch processing factory at Prang in the Pru district of the Brong-Ahafo Region. The agreement is the first-ever ‘One District, One Factory’ (1D1F) project financed by a private financial institution …

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Duffour sues BoG for revoking uniBank’s license

A shareholder of defunct uniBank, Dr Kwabena Duffour, has sued the Bank of Ghana for revoking the license of his financial institution. In a suit filed at an Accra High Court, his lawyer, Professor Raymond Atuguba of Atuguba and Associates among other things asked that the revocation of the bank’s …

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