Today's Ghana Business, Banking and Economic news

Banks directed to freeze PDS’ accounts

The Financial Intelligence Center in Ghana has written to all Rural Banks and Savings and Loans companies to immediately freeze all accounts belonging to Power Distribution Services (PDS).

SEC probes fund managers for risky investments

Securities and Exchange Commission (SEC) is investigating money managers for locking up as much as 5 billion cedis ($921 million) in risky investments they’re struggling to retrieve for clients.

Sheer negligence caused Ghana in PDS concession deal - ACEP

Executive Director of ACEP, Ben Boakye has attributed the suspension of government’s concession agreement with the Power Distribution Services to sheer negligence on some persons who were expected to monitor the process before finalising the concession agreement.

PDS used forged document for concession deal - Peter Amewu

Minister for Energy John Peter Amewu has said investigations conducted by the government has established that a document that was presented by Power Distribution Service (PDS) as a guarantee for the takeover of Electricity Company of Ghana (ECG) was forged.