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Concerned Customers Of Gold Coast Fund Call For Investigations.

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A group of Concerned Customers of the Gold Coast Fund Management (GCFM) have appealed to government to constitute an independent body to investigate the officials of the GCFM for not paying their monies to them.

They also called for the investigation of the officials of the Securities and Exchange Commission (SEC) for not communicating to customers and the public about their actions being taken against GCFM to safeguard
their investment.

At a news conference addressed by Madam Faustina Otoo in Accra they said since September 2018, the GCFM led by the then Chief Executive Officer, Papa Kwesi Nduom, made a number of unfulfilled promises to
the customers.

“Firstly, the GCFM officials indicated to start payment to their customers by March 2019 and to date not a single customer has received a pesewa. Secondly, they indicated to develop a payment plan concerning each customer’s investment; to date, no such a plan has been developed and communicated to their customers.

“Thirdly, we often read from the media about Papa Kwesi Nduom giving assurances and promises on payments being made by GCFM to their customers. We want to state emphatically and place on record that no such payments have been made to their customers,” Madam Otoo said.

She said: “Those pronouncements from Papa Kwesi Nduom were meant to divert attention from their gigantic failure to fulfil their part of contract with their customers.”

Madam Otoo said the SEC was too silent on issues surrounding the GCFM and until now, it had not issued a road map to resolve the matter as a regulator.

“Our members have individually petitioned the SEC on various infractions committed by GCFM, and the SEC’s responses have always been that, they will investigate the matter and get back to the petitioner. That ends everything! Nothing comes from SEC again,” she said.

Madam Otoo said it was surprising that while the Bank of Ghana boldly accepted responsibilities and took the bull by the horn by implementing drastic measures to sanitise the banking sector, the same could not be said about the SEC.

“The Bank of Ghana has already appointed receivers who are mandated to pay customers’ lock-up funds with the various defunct banks. What is SEC doing?”

She said Ghanaians were encouraged to inculcate savings and investment culture, while people were taught to plan towards their pension and therefore it was upon these advice that “our members acted and judiciously lodged various sums of money with a regulated institution trusting the government would come to our aid in the event of eventualities.”

“Pensioners and retrenched workers including; former workers of AngloGold Ashanti have various sums of money with the GCFM. What lesson is it to the general public and posterity if the government fails to take
necessary action to safeguard our investment with GCFM?”

Source: GNA | Ghana

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Twellium Foundation Fulfils Its Promise To The People Of Dzabupko Community By Constructing A Six Classroom Block.

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In line with the ultimate goal of changing people’s lives with every bottle of Verna Mineral Water purchased. The story of Dzabukpo community in the Volta Region came to a climax when Twellium Foundation fulfilled its promised to the people.

Earlier this year, the subsidiary in charge of social change under the Twellium Industrial Company, Twellium Foundation embarked on a journey to bring light and hope to the people of Dzabukpo. Mainly by constructing a classroom block to help nurture and develop the minds of the young ones. 

After handing over a two-unit classroom block and washrooms to the people in July, Twellium Foundation further promised to construct a six classroom block for the community. 

One of the Classrooms presented to the people of Dzabukpo community

For every Verna Mineral Water purchased, a brick was laid. And with support from UN Youth, On The Road, celebrities including Fella Makafui, Nana Aba Anamoah, Victoria Lebene and most importantly, our consumers, the vision came to fruition on October 5, when the building was inaugurated. 

The six classroom block for the Dzabukpo community

According to a post by Nana Aba Anamoah, a renowned news anchor and tv presenter on her Instagram account, she wrote ‘Verna Mineral Water is changing the narrative one step at a time.’ 

Fella Makafui also posted on her Instagram to celebrate the purpose of life in relation to the inauguration on October 5. Which according to her is rooted in service to one another and most importantly reaching down to the less privileged and lifting them up.

Verna Mineral Water is still in the business of changing people’s lives. And Twellium Foundation can only to more when you drink more.

The All New Verna Water
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“Unused Mobile Data Should Not Expire. – Mrs. Ursula Owusu To Telcos

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The Ministry of Communications wants mobile network operators (MNO) in Ghana to desist from allowing all unused data and voice bundles purchased by subscribers from expiring.

In a new directive issued by the Ministry to the network operators, it said, "all unused data and voice bundles purchased by subscribers do not expire and must be rolled over with the next recharge."

The directive was contained in a letter dated October 9, 2019, signed by the Minister of Communications, Mrs Ursula Owusu Ekuful and addressed to the Director-General of the National Communications Authority (NCA), Mr Joe Anokye with a copy to the Chief Executive Officers (CEOs) of MTN and Vodafone as well as the two Deputy Ministers of Communication, Mr George Nenyi Andah and Mr Vincent Sowah-Odotei.

The letter, a copy of which has been by Graphic Online states that the move was following a series of meetings held between the Ministry, NCA and the MNOs.

The letter explained that the directive was coming as a result of the increase in the Communication Service Tax (CST) from 6% to 9% and the subsequent decision by the MNOs to pass the entire burden of CST to subscribers contrary to a previous arrangement.

"We must emphasise that the fact that CST was increased from the existing rate of 6% to 9% effective 4th September 2019. The tax has been in existence since 2008 and was increased to provide revenue for cybersecurity initiatives to protect the digital infrastructure and policies being used by both the public and private sector."

The letter stated that, "At the series of meetings held between the Ministry of Communications, Mobile Network Operators (MNOs) and the NCA on 7th and 8th October, 2019, we were informed that prior to 4th September 2019, MNOs had not been passing on the CST to subscribers but had decided to take advantage of the 3% increase to pass on the entire tax to subscribers. This has effectively increased their profit margin at the expense of subscribers."

It said all efforts to get them [MNOs) to revert to the September 2019 situation has failed as they "literally exact their pound of flesh from their consumers."

The Ministry explained that to help minimise the negative impact of the current mode of deduction of the CST, it has therefore directed that "CST should be treated the same way VAT, NHIL, GETFund levy and all other taxes and levies imposed on entities doing business in Ghana are treated."

It said the "extraordinary upfront deduction of CST and notification of same to subscribers must stop with immediate effect."

"All unused data and voice bundles purchased by subscribers do not expire and must be rolled over with the next recharge."

"MNOs will be subjected to strict compliance with existing Quality of Service (QoS) standard to ensure value for the subscribers' money in accordance with their license obligations," it added.

The letter indicated that the directives were to take immediate effect.

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Google Might Announce A 5G Pixel 4 Next Week.

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Google appears to be working on a 5G version of the Pixel 4, and it’s possible the phone will be shown as early as next week, according to Nikkei. The standard versions of the Pixel 4, which will be announced at an event next Tuesday, will only support LTE. But Nikkei says that Google has begun “test production” on a model of the phone that includes 5G, too.

It’s not clear when the 5G model will be previewed or released, though. Nikkei says it could be shown next week, but its sources said the announcement could also be held until spring to appear alongside a new budget phone, a successor to the Pixel 3A.

If the phone is revealed on Tuesday, it’s likely that it would just be a teaser for a launch later on. It sounds as though development isn’t finished, and devices aren’t ready to go into production yet. Such an early tease seems somewhat unlikely: Pixel 3 sales were slow at launch last year, and Google would risk slowing sales of this year’s model by previewing a higher-end version that no one can buy yet.

Either way, the goal seems to be getting a 5G phone on the market within the next year, ahead of a 5G iPhone that’s expected next September. 5G networks are still in their infancy, and for consumers, there’s still not a lot of reason to get one of these phones. But being early to 5G could still help Google get some attention for its phone line.

Nikkei reports that Google might also unveil a new smartwatch and a laptop at Tuesday’s event. A new version of the Pixelbook has already been rumored, but a smartwatch isn’t something we’ve heard about. Google hasn’t had much luck with smartwatches in the past (and Android smartwatches aren’t in a particularly great place right now), but given how many are on the market, it doesn’t seem like it’d be all that hard for Google to put one together if it really wanted to.

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Volvo’s First EV Will Run Native Android.

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Volvo is one week away from unveiling the first EV under its own brand, an all-electric version of the company’s popular XC40 SUV. On Wednesday, the Swedish automaker said the car will mark another first, too: it will be the first Volvo car with an infotainment system built on Google’s new embedded Android Automotive software.

That means the new electric XC40 will come with features and apps like Google Assistant and Google Maps built in, with no need for an Android smartphone. The SUV’s infotainment system will also have access to the Play Store, allowing owners to download apps that Google’s approved for automotive use. Built-in maps, assistant, and Play Store — no phone required

We’ve known for more than two years that Volvo was working on integrating Android into its cars. In fact, Google showed off an early version of the software running on a gas-powered XC40 at its 2018 I/O conference. Now, this won’t necessarily be the first car with embedded Android, nor will it be the first all-electric in the wider Volvo Group. Volvo’s performance sub-brand Polestar has claimed both of those titles with its Polestar 2 EV, which is slated to go on sale in 2020. But Volvo’s XC40 is a more affordable, higher-volume car that will reach more customers.

a car on the phone

The deep integration of Android will allow drivers and passengers to use Google Assistant to change things like climate settings, and it will also enable over-the-air updates that can add new features or address some maintenance issues, according to Volvo. And yes, Google and Volvo’s system will allow people to plug their iPhones in and use Apple CarPlay.

While all of this added functionality will make for a different experience compared to what is currently available inside a Volvo car, the new infotainment system will still look familiar to anyone who’s used the automaker’s existing Sensus software.

That’s one of the main goals of this whole partnership model Google’s pursuing. The tech giant provides a reliable software backbone, which each automaker gets to develop and brand to their liking. Beyond Volvo, Google’s also signed up big names like General Motors and the Renault-Nissan-Mitsubishi Alliance. It’s a far cry from a few years ago when automakers were so hesitant to let tech companies take over any small slice of the in-car experience that many slow-rolled their initial adoptions of Android Auto and CarPlay.

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