Thursday, August 16Reliable Sources of Information

Business

PMMC Boss vows to go after illegal gold dealers

PMMC Boss vows to go after illegal gold dealers

Business, News
The Chief Executive Officer of the Precious Mineral Marketing Company (PMMC), Mr. Opare Hammond, has warned foreigners who are engaging in illegal gold trading to stop immediately or face his wrath. According to him, his outfit will be forming a joint police taskforce to deal with such people in the coming days. He explained that “these illegal” gold trading is what is making illegal mining popularly known as galamsey to thrive despite the fight against the menace. Speaking on Oman FM’s political analysis programme “Boiling Point” monitored by MyNewsGh.com, Mr. Opare Hammond, said there have been several attempts to stop illegal miners from operating, but said because of the illegal gold buyers the fight has been very tough. He said the illegal miners are still going into t
I Had “Non-Executive” Role At Capital Bank – Otabil

I Had “Non-Executive” Role At Capital Bank – Otabil

Business, News
ICGC founder and board chairman of the defunct Capital Bank Dr. Mensa Otabil has opened up on his duties at the bank explaining that he had a “non-executive role”. He however explained in a statement Tuesday that decisions were made at the bank with the best of intentions. “My position was a non-executive role. I was therefore not involved in the day-to-day management and operations of the Bank”. The popular preacher has been indicted in a leaked report compiled by the Central bank for the collapse of the bank. He and his management team have been accused of using monies given them by the Bank of Ghana to salvage the then struggling bank to open new businesses which also failed. Below are details of the statement by Dr. Otabil 1. I have observed with concern, the ongoing
Former BOST MD Questions Criteria Of Government Appointments

Former BOST MD Questions Criteria Of Government Appointments

Business, News, Politics
The Embattled former Boss of the Bulk Oil Storage Transportation (BOST) has questioned how Volta Region can have more government appointments than the Western Region. The Embattled former Boss of the Bulk Oil Storage Transportation (BOST) has questioned how Volta Region can have more government appointments than the Western Region. Dr. Alfred Obeng at an encounter with the media at Sefwi-Subre Nkwanta in the Bibiani Anhwiaso municipality on Saturday, told Bryt FM’s Hamza Mohammed, the region gave the New Patriotic Party(NPP) over 130,000 votes in the 2016 general elections  as compared to the less than 100,000 votes from the Volta region but wonders how such a region(Volta) gets more government appointments instead. He opined: “our leniency has been as our weakness hence we have b
“You Have Been Punished For Touching the ‘Anointed One’ – Former BOST MD to Agyarko

“You Have Been Punished For Touching the ‘Anointed One’ – Former BOST MD to Agyarko

Business, News, Politics
"Your sack from office is a reward for touching the 'anointed one' of God", former Managing Director of Bulk Oil Storage and Transportation, Dr. Alfred Obeng, has told 'sacked' Energy minister, Boakye Agyarko. “Your sack from office is a reward for touching the ‘anointed one’ of God”, former Managing Director of Bulk Oil Storage and Transportation, Dr. Alfred Obeng, has told ‘sacked’ Energy minister, Boakye Agyarko. Speaking exclusively to Bryt FM’s Hamza Mohammed at Sefwi-Subre Nkwanta in the Bibiani Anhwiaso municipality of the Western region, Dr. Alfred Obeng teased Mr. Boakye Agyarko for getting reward for masterminding his removal from office barely two months ago. He also took on the Board Chairman of BOST who is also the owner of Capilidated Sovereignty Bank for reaping w
Business climate under NPP favorable – McDan

Business climate under NPP favorable – McDan

Business, News
The Executive Chairman of the McDan Group, Dr Daniel McKorley says he is ready to do business with the government of Ghana after more than 2 decades of abstinence. Speaking Wednesday on Starr Chat Dr McKorley said the move was because he found the environment under the New Patriotic Party (NPP) “favourable.” “My business has been solely private. I don’t do government business but this trip I want to do government business,” he declared. Explaining his sudden desire to do business with the government, he asked “give me a single name in the world who is a billionaire who doesn’t do government business. Bill Gates? Carlos Slim? The government is the biggest client. What you have to be careful is to do the right the thing. “ Asked why he didn’t do business with the government o
Don’t demonstrate for me – Menzgold CEO urges Kasoa Youth

Don’t demonstrate for me – Menzgold CEO urges Kasoa Youth

Business, News
The Chief Executive Officer of gold trading firm Menzgold Ghana Company Limited, Nana Appiah Mensah popularly known as NAM1, has called for calm following reports that some youth in Kasoa are planning a demonstration in solidarity with the under-fire company. In a tweet Friday, the business magnate said: “My attention has been drawn to a pending demonstration in the Awutu Senya East municipality in solidarity of Menzgold. I humbly urge all to desist. We are employing a diplomatic resolution under the tenet of rule of law in the interest of our beloved republic”. The development comes after the recent public exchange of words between some regulators and the firm. Lawyers for the company have, for instance, rejected claims by the Precious Minerals Marketing Company (PMMC) that t
We’re duly licensed – Menzgold rubbishes PMMC claims

We’re duly licensed – Menzgold rubbishes PMMC claims

Business, News
Lawyers for gold trading company Menzgold have rejected claims by the Precious Minerals Marketing Company (PMMC) that the company’s licence has been revoked. It follows ongoing disagreements between Menzgold and the Bank of Ghana over its operations. Managing Director of PMMC Opare Hammond is claiming Menzgold is not licensed to buy and sell gold as suggested by the company. According to him, Menzgold earlier license granted by the PMMC in 2014 has long been revoked. “The Minerals Commission would usually give you the license and there is a small clause that says ‘you buy gold for export’ and I don’t know if that is what they[Menzgold] are relying on to do this. If that is what they are relying on, then they are doing the wrong thing. One is supposed to buy and package the
Frederick Amanor granted of GHc60k bail

Frederick Amanor granted of GHc60k bail

Business, News
The Police officer who assaulted a woman at Midlands Savings and Loans, Lance Corporal Godzi Frederick Amanor, has been granted a Ghc60, 000 bail with two sureties by an Accra Circuit Court. Three others Joycelyn Kukua, the operations manager of the company, Shirley Portia Anaman, customer care officer and Prince Ayensu, a driver of the company were also granted bail on analogous terms. But, the sureties the court said should not earn less than GHc500 Daily Heritage’s Muntalla Inusah who was in court reports that fresh charges were preferred on Amanor after the initial charge was withdrawn. His lawyer, Kweku Adjei Lartey said section 73 of the court act allows for an out of court settlement. Amanor was charged with assault at the court, presided over by Mrs Jane Harriet
AMERI deal: MoF, AG, VRA were consulted

AMERI deal: MoF, AG, VRA were consulted

Business, News, Politics
It has emerged that top government officials and agencies were involved in the renegotiation of the botched controversial AMERI deal which led to the sacking of the Energy Minister Boakye Agyarko. A memorandum accompanying the Novation and amendment deal and in possession of Starr News proves the involvement of several other government agencies including the Ministry of Finance, the Attorney General’s department and other officials who worked on the new deal. This has been corroborated by the Chairman of the Mines and Energy committee of Parliament, Emmanuel Akwasi Gyamfi. The revelations comes after several calls by a section of the public for the President to sack the other three deputy Energy ministers and anyone who worked on the deal. Portions of the document sighted b
Job Loss Scare As Consolidated Bank Serves Staff Letters

Job Loss Scare As Consolidated Bank Serves Staff Letters

Business, News
Job Loss Scare As Consolidated Bank Serves Staff Letters Dr. Ernest Addison | BoG Governor Some employees of the now consolidated banks are likely to lose their jobs in the coming days as a probation has been given out to them by management. The letter which welcomes the staff to their new employer also noted they will be assessed in the next 60 days after which their employment status will be affirmed. “Dear Employee. CONSOLIDATED BANK GHANA LIMITED We wish to welcome you to the Consolidated Bank Ghana Limited. “As you are aware the Bank of Ghana has withdrawn the operating license of your Bank and the Consolidated Bank Ghana Ltd.. has assumed the assets and liabilities of the Bank. “The purpose of this letter is to inform you that you will be working w