SIC Insurance to pay claims to GCB following fire outbreak

Ghana Stock Exchange listed SIC Insurance has assured that they would be paying insurance claims to GCB Bank in respect of the fire outbreak at the bank’s Liberty House branch at Katamanto in Accra. Although SIC officials have been to the site of the fire outbreak to ascertain the damages caused, they have indicated that they are awaiting estimates of the damages caused by the fire outbreak from officials of... Read more

Enterprise Group to commence life operations in Nigeria

The Nigerian National Insurance Commission (NAICOM) has granted Enterprise Life Assurance Company (Nigeria) Limited license to commence operations in the country. This is after the Company met the minimum stated capital of NGN 8bittion in February 2020. Enterprise Life Assurance Company (Nigeria) Limited is a member of the Enterprise Group PLC. Speaking on the license acquisition, the Group’s Chief Executive Officer, Keli Gadzekpo, said the move is in line with...

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Partial bailout of clients of revoked fund managers begins

The Securities and Exchange Commission (SEC), acting within its mandate of protecting investors and the integrity of the securities market, wishes to inform all clients of the remaining affected Fund Management Companies whose licenses were revoked that payment processes for the Government partial bailout have begun in line with its earlier public notice on the 18th November 2020. The partial cash bailout which involves a payment of up to Fifty... Read more

Government to partially bailout clients of fund managers while litigation continue

Securities and Exchange Commission (SEC), acting within its mandate of protecting investors and the integrity of the market, wishes to announce the outcome of its deliberations with Government regarding an agreed social and humanitarian intervention for all remaining customers of the failed Fund Management Companies. The Commission hereby announces that Government has authorized a partial bailout which involves a partial payment of up to Fifty Thousand Ghana Cedis (GHS50,000) to... Read more

MTN to hold virtual Extraordinary General Meeting to authorise share buyback

NOTICE is hereby given that the Extraordinary General Meeting of Scancom Plc. (“MTN Ghana” or the “Company”) will be held virtually and streamed live from the Company’s Head Office at MTN House, Independence Avenue, Accra on the 3rd of December 2020 at 11:00 am for the consideration of the following business: 1. to authorize the implementation of an employee share scheme by way of an Employee share option plan (ESOP)...

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Ghana Stock Exchange commences 30th anniversary celebration

The Ghana Stock Exchange (GSE), which was inaugurated on November 12, 1990 and launched on January 11, 1991 as a private company limited by guarantee, is set to celebrate its 30th anniversary. The celebrations began yesterday with a press briefing on the 6th Floor of the GSE, and is expected to climax in January 2021 with a press launch.   The Ghana Stock Exchange has grown significantly in the last three decades... Read more

Dalex Finance to pay coupon for its 5-year bond this month

Dalex Finance has released a calendar of events leading up to the payment of a coupon for its 5-year unsecured subordinated fixed rate note maturing in 2023, DFLC1-5Y23. The bond has an ISIN of GHCDFL050114.     Qualifying Date Noteholders of Tranche D1 registered in books of Dalex Finance and Leasing Company PLC at the close of business on November 20, 2020 will qualify for coupon payment.  Closure of register The...

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Stanchart appoints George Akello as Non-Executive Director

Standard Chartered Bank Ghana announces the appointment of Mr. George Akello as a Non-Executive Director of the Company effective 29th October 2020  MR. GEORGE AKELLO is the Chief Risk Officer for Standard Chartered Bank with risk oversight responsibilities for the Standard Chartered subsidiaries in East Africa. In this role he is responsible for overseeing the implementation of the Bank’s Enterprise Risk Management Framework and associated policies in Kenya and across the East Africa...

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GCB Bank appoints seasoned banker Kofi Adomakoh as MD

GCB announces the appointment of Mr. John Kofi Adomakoh as the Managing Director of the Bank effective 9th November 2020. John Kofi Adomakoh is a seasoned banker with over 25 years’ experience, 15 of which have been at Executive Management level. Kofi joins GCB Bank Limited (GCB) from African Export-Import Bank headquartered in Cairo where he worked as a Director & Global Head, Project and Asset-Based Finance. Prior to that,... Read more

Don’t deal with PBAY Ltd. – SEC warns investors

The Securities and Exchange Commission is the statutory body mandated by the Securities Industry Act 2016 (Act 929) to promote the orderly growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected.   The attention of the Commission has been drawn to the activities of PBAY Limited, an entity purporting to be able to facilitate the payment of... Read more