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Rural banks are being encouraged to explore microfinance group lending schemes in order to extend services to the informal sector. Chief Executive of Amenfiman Rural Bank, Dr Alex Asmah, says improved coverage of the unbanked population will facilitate credit access. Access to credit remains a major challenge to small and medium scale businesses in the informal sector.   Amenfiman rural bank says it has discovered that the microfinance group lending scheme can be a potential remedy for the problem. Individual…

The Member of Parliament for Bongo, Edward Bawa has suggested that the Energy Minister Boakye Agyarko’s decision to exonerate the CEO of the Bulk Oil Storage and Transportation Company Limited (BOST) of any wrongdoing in the contaminated fuel saga was made “under duress”. According to him, the Energy Minister’s call might have been influenced by orders from senior figures in government. A BNI and National Security report cleared the current CEO of BOST of any wrongdoing in the matter, and…

It appears some Ghanaians are not willing to stop trolling the Member of Parliament for Dome Kwabenya, Sarah Adwoa Safo, for claiming a school built in her constituency was through her personal efforts as they have taken it to another level. Hon. Adwoa Safo in a video that has gone went viral on social media claimed that she lobbied the World Bank to fund the construction of the Kwabenya Senior High School (SHS). The Deputy Majority Leader added, it is…

Balkan Energy has turned to a South African High Court to allow it to sell Ghana’s six million shares in AngloGold Ashanti to defray a US$12 million ‘judgement debt’ it was awarded against government, following a 2007 deal that went bad. Ghana’s shares in the mining firm is estimated at about US$57 million and the action by Balkan Energy comes after the Permanent Court of Arbitration in The Hague in April 2014 awarded US$12 million decision in favour of the…