News
GSE revokes licences of two companies
The Ghana Stock Exchange (GSE) has revoked the licences of Liberty Securities Limited (LSL) and First Atlantic Brokerage Limited (FABL).
According to the GSE, the decision to expel the two companies was due to the various infractions with respect to rules of operations on the exchange.
A press statement issued by the GSE said LSL and FABL would not be able to execute trades on the market, provide advisory services to clients on capital market issues, and hold in lien or in trust clients’ accounts or their security holdings, in accordance to Rule 78 of the GSE Dealing Membership Rules.
Rule 78 of the GSE Dealing Membership Rules requires a member of the Exchange to comply with the prevailing requirements of the Securities and Exchange Commission in respect of capital, liquidity, reports and returns.
In the case of FABL, the regulator noted that, the company had operated without an Authorised Dealing Officer (ADO) for more than three months.
In addition, the company’s financial status showed a significant deterioration in its operations, resulting in successive negative returns which have eroded shareholders’ funds, the statement said.
The FABL is in breach of regulation 22 of the SEC Regulations, 2003 (L.I. 1728), which requires a Broker-Dealer to maintain at any given time, minimum liquid fund amounting to at least 20 per cent of the aggregate indebtedness of the Broker-Dealer, the statement added.
Similarly, LSL were found to be operating without an ADO for more than three months, contrary to Rule 6(j) of the GSE Dealing Membership Rules.
Moreover, they had low net shareholders’ fund balance and low liquidity position and had been inactive on the market due to the lack of ADO to execute trades.
For customers of the now defunct stock traders, the Exchange said procedures have been provided for them to transfer their security accounts and security holdings to any LDM of their choice.
The GSE had also provided a help desk or a correspondence officer to each LDM to respond to clients’ issues.
Source: Ghanaian Times
News
Learn how to prepare local dishes…Queen mothers urge young women
In a heartwarming display of intergenerational wisdom, queen mothers from local communities in the Obuasi enclave shared their expertise on how to prepare local diets with young ladies on the International Women’s Day event, courtesy of AngloGold Ashanti, Obuasi Mine.
Beyond the fanfare, these revered women leaders took centre stage to impart a vital life skill: traditional cooking as they guided eager students and other young ladies through the art of preparing local delicacies.
In fact, the aroma of ‘Abunabunu’, ‘Aprapransa’, ‘Enuhu’, ‘Akaw’, ‘Tuo Zafi’ (TZ), among others, wafted through the air to the extent it could attract people from a distance, as the queen mothers entertained the young women with tales of resilience, entrepreneurship, and community building.
This year’s International Women’s Day Celebration was under the theme: ‘Accelerate Action for Women’s Equity.’
As the event drew to a close, the queen mothers gave words of wisdom upon their young guests.
From Nana Amoanima Dede, Queen mother of Adansi she stated that: “Never forget your roots, and always remember that the kitchen is not just a place for cooking, but for building connections and forging communities.”
Nana Akua Dwum II, Queen mother of Edubiase, on her part urged the young ladies to learn how to prepare traditional dishes in order to preserve cultural heritage of the nation.
Earlier, the Managing Director of the mining company, Samuel Boakye Pobee, mentioned their readiness to roll out an “All-Women Apprenticeship Programme, aimed at empowering young women in the Obuasi communities in entrepreneurship.”
He said the project would include women in basic technical skills and their capacity building to boost their employability to reshape perceptions of women’s roles in traditionally male-dominated industries.
According to the Managing Director, the mining company’s commitment “is to empower young people with specialised skills, and progressive knowledge to make them financially independent.”
The company, he indicated, was accelerating action towards women’s equality at the Obuasi Mine and within host communities with the aim to build a foundation to create an inclusive and supportive business culture.
Mr Pobee expressed the need for innovative approaches and dedicated efforts to encourage and invest in women’s participation in all fields, including all levels of technical and operational areas and must be intentional and deliberate.”
From Kingsley E. Hope, Obuasi
News
Youth of Redeemed Baptist Church celebrate Ghana’s Independence Day
In honour of Ghana’s Independence Day, the youth ministry of the Redeemed Baptist Church (RBC) hosted a Youth Dress-Down event in vintage style to celebrate Ghanaian heritage and express patriotism.
Dubbed ‘Don the Shadda’ it was an opportunity for the youth to showcase their pride in Ghana’s rich culture.
