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Pulse Business Wrap- BoG revokes license of 70 microfinance companies

(BoG) has revoked the licenses of some 70 microfinance and lending companies for failure to meet conditions required for a substantive final license. 

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You are welcome to the  Pulse Business Wrap, and  here are the top stories  for today,The Bank of Ghana

 

BoG revokes license of 70 microfinance companies

 

(BoG) has revoked the licenses of some 70 microfinance and lending companies for failure to meet conditions required for a substantive final license. Some of these companies are:  Cedar House Microfinance Services Ltd,  Ezi Access Microfinance Limited,  KB Star Microfinance Company Limited and 67 several others.

Click to see full list of microfinance that had their license revoked

University of Ghana lecturers express suspicions  about New Energy Sector Levies

Head of the Banking and Finance Department at the University of Ghana, Dr. Godfed Bokpin has taken a swipe at government for showing little transparency in the introduction of the New Energy Levies. Reports from parliament show that the house approved a 5 percent increment in fuel prices and not the 27% rise being charged at the pumps.

Finally to our market updates for today starting from the currency market,

Currency                 Buying                         Selling

Dollar                        3.78                             3. 90  

Pound Sterling           5.56                             5.80

Euro                          4.09                             4.29

 

To  the biggest gainers and losers on the Ghana Stock Exchange,

Aryton Drugs recorded the biggest loss in share price for today dropping 2 pesewas, Ecobank Ghana Limited also recorded a 1 pesewa drop in its share price for today all other shares remained unchanged.

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