Regulators of Ghana’s financial services sector, Bank of Ghana(BoG) and the Securities Exchanges Commission(SEC) has stated that, it had, on numerous occasions over the years, warned customers of Menzgold to desist from investing monies in the company as it was not licensed as deposit or asset management company.
According to the country’s regulators of financial services, BoG and SEC, as at April 2016 it has cautioned the customers of the gold dealership firm that the activities of Menzgold Ghana were not monitored by the financial services regulators since it wasn’t granted the necessary license to run the affairs of the firm, therefore, the regulators of financial services is not clothed with any legal mandate to refund monies to the clients.
This comes at the back, after the gold dealership entity renege on its contractual obligations to its customers resulting to recent agitation, demonstration and media complaints by some aggrieved customers of the entity, leading to frequent quest of the government to aid in refunding of their gold or expected profits to them and also arrest the directors and operators of the company, generating a lot of brouhaha in the country.
In a news release signed by the Deputy Minister in charge of Information, Kojo Oppong Nkrumah, President Nana Addo Dankwa Akuffo-Addo has not endorsed the company, its officials nor its operations, adding that the government has not aided the operations of the company, as it being bandied by some political gurus of the opposition National Democratic Congress(NDC).
The government has urged Ghanaians to debunk the NDC’s use of photographs, where CEO of Menzgold Ghana, Nana Appiah Mensah is being sighted with top officials at the Ghana Football Association(GFA) and Confederation of African Football(CAF), including the president of the 4th Republic of Ghana, Nana Akuffo-Addo taken at the Jubilee House.
Regulators of Ghana’s financial services urged customers whose obligations have not been met by the company to entitled to seek legal remedy to retrieve their funds paid to the company ostensibly to buy gold, adding that, the state cannot resort to the use of taxpayer’s monies to refund customers monies.
According to the regulators of Ghana’s financial services, the Police service has, subsequently, issued an arrest warrant pursuant to these reports, and has, accordingly, informed Interpol to assist in the search for the arrest of Nana Appiah Mensah and two others to assist in investigations.
“NABCO Have Resolved It Challenges With 9,235 Of It Beneficiaries; Payment To Be Effected This Week” – Mr. Kojo Oppong
Some, out of about 100,000 beneficiaries who were enrolled on the NaBCo programme have expressed displeasure in the government, as their monthly stipends of 700ghana cedis were not released.
The Deputy Minister in charge of Information, Hon. Kojo Oppong Nkrumah has stated that, the Nation Builders Corp(NaBCo) programme has completed the resolution of challenges it encountered with the processing of stipends for some 9,235 beneficiaries, as payment is to be effected this week.
According to the Deputy Minister in Charge of Information, NaBCo stipends for 2018 were fully funded in the 2018 budget and payment commenced for some 77, 907 beneficiaries.
The Nation Builders Corps, NaBCo programme which was launched in May, 2018 is a government initiative to address the high level of graduate unemployment in Ghana.
The objectives are to Provide temporary employment, Improve skills and employability, Improve public service delivery, Improve revenue mobilization and Improve access to basic public services.
Under this programme, graduates will be trained, equipped with the necessary work tools and deployed around the country to engage in the following programmes, Educate Ghana, Heal Ghana, Feed Ghana, Revenue Ghana, Digitize Ghana, Civic Ghana and Enterprise Ghana.
Addressing a press briefing at the Eastern Premier Hotel, Koforidua in the Eastern Region, Mr. Kojo Oppong revealed that, a little over 18,000 beneficiaries unfortunately did not receive their stipends for various reasons such as, about 12, 000 of the beneficiaries gave wrong USN numbers, 1000 gave wrong ezwich numbers, 1300 were found to be on the Forestry Commission payroll, 322 already on the YEA payroll, 408 on the National Service Secretariat payroll, 7 had already been put on the Ministry Health Nursing Training programme, 1702 were found to have been already employed in other sectors, 6 were flagged as the already employed with duplicate ezwich numbers, 85 required a change in their cards, 7 provided duplicate details, 394 had mismatches of their names between the NABCO system and Ezwich system and another 50 had duplicate ezwich numbers.
Mr. Kojo Oppong stated that, these difficulties it encountered called for a halt in further processing of the payroll for the data set to be corrected.
According to him, the secretariat informs that, 9,235 of the beneficiaries have now corrected their data and thus will be paid effective this week as it tasked beneficiaries to correct their data for it to be rekeyed into the system.
Deputy Minister of Information, Mr. Kojo Oppong Nkrumah stated that, the beneficiaries December and regular stipends are also programmed to be paid immediately afterwards, encouraging about 8,766 beneficiaries who have an outstanding data issues to correct them for payment of stipends to be done.
Government Secures A 60 Million Dollar University of Allied Science’ Project” – Dep. Info. Min. Kojo Oppong.
The Deputy Minister of Information, Hon. Kojo Oppong Nkrumah has revealed that, the Government of Ghana has secured a 60 million dollar facility for the implementation of phase two of the University of Allied Science’ project at in the Volta Regional capital, Ho to elevate health care delivery in the country.
As stated by the Deputy Minister in charge of Information, the project is expected to enhance higher education in medicine to promote advanced medical care and provide jobs in the health sector.
According to Mr. Oppong, in September 2015 the first phase of the university funded by the Chinese government was officially handed over to Ghana, adding that, the first phase covered a land area of about 10,000 square metres and comprise the school of basic and biomedical science, lecture hall, libraries, student housing facilities and senior staff residential area.
Addressing a press briefing at the Eastern Premier Hotel, Koforidua in the Eastern Region, Mr. Kojo Oppong stated that, in July, 2018 President Nana Akufo-Addo on his tour of the Volta Region promised that in January, 2019 funding will be availed for work to start.
Mr. Nkrumah noted that, through to his promise, the Minister of Finance Mr. Ken Ofori Atta and the Chinese Ambasador Wan Shi Tin signed Memorandum of understanding(MOU) to that effect to avail the 60 million dollars for phase two of the project.
According to the Honourable Deputy Minister, phase two covers a total floor space of about 29,000 square metres and will provide for the central administration block, school of nursing and midwifery, duty and equipment rooms as well as supporting facilities like furniture computers and teaching aids for medical specialties.
Deputy Minister incharge of Information, Hon. Kojo Oppong Nkrumah revealed that, government is pleased about this development and wishes to work together with their Chinese partners to enhance the already strong bilateral relationship while deepening their commitment to the expansions in education, health care and infrastructure.
22 Inspiring Business Quotes from Real, Successful Entrepreneurs.
It requires a lot to be successful in business: a good product or service, financial acumen, the right connections and capital to keep things running are just a few of the tangible requirements.
But the soft-skills required to maintain resilience in the face of overwhelming odds, overcome adversity and recover from failure cannot be discounted.
What are the mindsets that keep entrepreneurs going against all odds?
We reached out to the wide-world of business owners for their mantras, inspirational quotes and advice about how to do what they do.
The Power of Passion, Purpose and Creativity
Entrepreneurs and business owners have the rare opportunity to do something they truly love – the opportunity to be a force for good in the world instead of a cog in the machine.
Keep this in mind when the journey inevitably gets tough.
- “Everyone has their own reasons for starting their own business. But don’t choose other people’s reasons; choose your own.”
Simon Dlugowski, Founder of MySocialNerd.com
2. If you do what you love, you are more likely to be better at what you do. Don’t choose your career path based on other people’s expectations. Have faith in yourself and your judgement. Work hard and do what you enjoy. If not, you will have to live with the lingering feeling of wondering what could have been.”
Charles Dugan, Founder of American Image Displays
3. “The passion and desire you have to bring something into this world was given to you for a reason. You were meant to do the work that drives you and compels you to create. Never forget that the world needs exactly what you have to give, and it won’t be complete without it.”
Jessica Kinsey, Founder of Prodigy & Co
4. “Let your mind wander at the right time. Daydreaming makes people more productive because it taps into the subconscious and encourages creativity. You just have to learn how to do it well. Think of as many things as you can for an hour, when you do that, you find solutions to problems.”
Stephen Constantine, Founder of YouMap
5. “Go out into the world. Go into the homes and workplaces and quiet places of real people with real challenges. Watch and listen. There we will learn what the actual challenges are we as founders can help solve.”
Matthew Cooper, Co-Founder and CEO of EarnUp
6. “When you start a business, the goal is not to make money. That should be the last goal on your mind actually. Instead, you should start a business because you love what you do.”
AJ Saleem, Academic Director at Suprex Tutors Houston
7. “You are never too small and ordinary to make a difference. A seamstress named Rosa Parks refused to give up her seat and move to the back of the bus. A shipyard electrician named Lech Walesa led the movement that threw the Russians out of Poland and later became its president. Ben Cohen and Jerry Greenfield knew nothing about ice cream or business and they started a company that showed it was possible for businesses to change the world. I own a one-person social entrepreneurship consulting business based in a farmhouse, and I personally started the movement that saved a mountain. If you think you’re too small to have impact, hang out with a mosquito. Step into your greatness—it’s waiting for you!”
Shel Horowitz, Going Beyond Sustainability
The Power of Your Mindset
Henry Ford famously said, “Whether you think you can or you can’t, you’re right!” The power of your mindset when it comes to your success cannot be dismissed. Keep these quotes in mind:
8. “Entrepreneurs face obstacles from all sides, day in and day out, but the greatest battle entrepreneurs fight is over mindset. No competitor is as dangerous as your own doubts or complacency. Make positivity and enthusiasm your highest priority, and you’ll find ways to take care of all the rest. I can tell you with 100% certainty that the days I’ve gotten up and attacked my work with a positive attitude, I’ve made progress. On the days when I’m feeling low, letting the doubts and frustrations eat away at my mindset, I see only a fraction of the results. Entrepreneurship is a battle waged in the mind.”
Brian Davis, Director of Education, SparkRental
9. “The only difference between fear and excitement is the story that you tell yourself. Tell yourself a story that will move you forward.”
Laura Huckabee-Jennings, Owner of Transcend
10. “I’m a true believer in the Laws of Attraction. What you think about, you bring about. Say to yourself, ‘In 2018, I will…’ and write it in a notebook or somewhere you’ll see it often. Remind yourself that running a small business is something that you want.”
Denise Marcelin Pringle of Denmar Consulting LLC
The Power of Your People
The reason many entrepreneurs start a business is because they have a natural inclination to go it alone. This quote is a reminder not to let that be your downfall.
11. “Don’t let your doubts get in the way of your success. As a business owner, it’s important to utilize a support group who shares the same vision as you. This network is what will help you get through the difficult times, and help you celebrate your wins.”
Katie Krawcyzk, Founder of 19 IDEAS
Prepare to Persevere
No matter how lucky you are, no matter how talented you are, your business will not succeed unless you keep going.
12. “A small boy or girl selling lemonade has a business. A creative entrepreneur with a business plan only has a paper.”
Katie Smith, CEO of Skip Hire Isleworth
13. “Many refuse to step up to life’s plate for fear of striking out. However only those willing to risk a strike out are given the opportunity to hit a home run. Whatever you do, just keep swinging.”
Kelly Bertog, Founder of Six-Figure Sponsorships
14. “No matter how hard it gets, continue providing value upfront and continue delivering on your promises, and eventually you will be successful.”
Simon Dlugowski, Founder of MySocialNerd.com
15. “Entrepreneurship is being on a mission where nothing can stop you. It will take twice as long as you’d hoped, cost exceedingly more than you’d ever budgeted and will be more challenging than anything you’ll ever try but if you give it your all and refuse to give up, you can trust it will be the ride of a lifetime.”
Lori Cheek, Founder/ CEO of Cheekd
16. “Persistence and ambition almost always beat out talent. Many startups and companies fail simply because they give up too early. Success isn’t achieved by avoiding failure, but instead finding the determination to work past it.”
Sophie Knowles, Founder & CEO of PDF Pro
The Power of Failure
You are going to fail before you truly succeed. Your perspective, and understanding failure’s role in success, is paramount to overcoming it.
17. “You don’t know how far you can rise until you are knocked to the ground.”
Ted Jenkin, Co-CEO and Founder oXYGen Financial
18. “Failure happens not when you don’t succeed the first time but when you stop trying the last time.”
David Burckhard, PicturePoint On-line
19. “Fear of failure is something as an entrepreneur I am constantly battling against. As an entrepreneur, you are constantly trying new things and pushing the envelope. If you are not failing, you aren’t trying hard enough. Often when my team is hesitant to take action in fear of failure, I am known to say ‘It might not work. You might fail. But I rather fail at something that has potential than succeed as something with none.’”
Warren Struhl, Owner of Successories
20. “The best way I know to recover from entrepreneurial failures is to rely on your support group. This could be any combination of friends or family. They might not be able to give you any game-changing solution to your problem, but as long as they aren’t there to question or criticize you, they should help you at a personal level with their love and support. Simply getting away from your problem for a day or even a few hours could prove invaluable.”
Peter Carson, President, Extranet User Manager
21. “Let rejection be the fuel for your motivation because on the road to your dreams, nothing should stop you.”
Dale Noelle, Founder & CEO of TRUE Model Management
Enjoy the Journey
As a business-owner, it’s only natural for you to focus on results. But focusing only on the results is one of the fastest ways to burn out.
22. “Entrepreneurship is like a bike ride. Some paths are familiar, others take you through new or rocky terrain. Some people seem to travel very far quickly, while others struggle to make it up the first hill. Each journey is different, sometimes by choice (like where to ride) and sometimes by chance (like inclement weather). Every rider has a different set up uphill climbs and downhill cruises ahead of them. Sometimes you’ll ride uphill and into the wind and it’ll feel like the world is fighting against you. Every forward motion will be hard fought and difficult to achieve. But that only makes the crest of the mountain that much more sweet of a victory when you get there. Other times you’ll be pedaling downhill and feel invincible, like you own the streets and nothing can stop you. These are the times to stay humble and keep pedaling. Realize that you’ve worked hard to get here, but just because the path is working in your favor right now doesn’t mean it will always stay that way. Keep your head down and pedal because you could be riding into another uphill battle and need to keep your momentum.
We all have different paths and some of us will go a lot farther than others. It’s not always fair that some people have better bikes than others, but that’s how the world works. Keep your eyes focused on the riders going faster than you and learn from them. But remember that no matter how fast you go, there will always be someone out there passing you, don’t let that discourage you. And lastly remember, while it’s important to travel far, at the end of the road it’s more important to enjoy the path that got you there.”
Matt Ham, President / Owner of Computer Repair Doctor
You Know What’s Even Better Than Business Quotes?
Now that you’re feeling inspired and ready to take your business to the next level, let us help connect you to a lender who might be able to get the resources you need to expand your company or launch your startup.
“Mahama’s Assertions About COCOBOD Are False” – Ghana Cocoa Board
CEO of Ghana Cocoa Board, Mr Joseph Aidoo and the management of the board has debunked former president Mahama’s assertions that government has refused to increase the price of the product as false.
Mr. Mahama specifically told a gathering of NDC supporters in the Western Region flagbearership campaign that, the current government and COCOBOD Management have deliberately refused to increase the producer price of cocoa, which according to him should be increased each year.
According to Mr. Mahama, fertilizers that were duly paid for by the former government, National Democratic Congress should be freely disseminated to the farmers but are rather being sold while some have been left to rot.
In a statement signed by COCOBOD CEO, Mr. Joseph Aidoo, it is unfortunate that, the former President would want to incite cocoa farmers using the producer price when he knows world market price of cocoa is at a record low.
According to the statement, it reiterated that, it is factually incorrect that fertilizers have been left across the country to expire. Indeed, the organic fertilizers which are the subject of issue ordinarily are the best but unfamiliar to our farmers
COCOBOD debated that, as at 2017 the world prices of cocoa has denigrated on the world market and ordinarily the producer price should drop but the board has maintained the price at what they met it.
The COCOBOD explained that, other independent variable statistics such as the world price of the commodity are vitally necessary and the quality of deciding the producer price, adding that, the historical changes in the currency exchange, alluding that with the dollar exchange rate moving from GH¢3.9 in 2016 to GH¢5.0 in 2018, there should have been an automatic upward adjustment of the producer price of cocoa.”
Ghana Cocoa Board(COCOBOD) stressed that, no fertilizers were paid for, neither were any monies left in the accounts of COCOBOD for fertilizers as at January 1, 2017.
According to them, the current management of COCOBOD had to secure a loan from the World Bank to take delivery of fertilizers for the 2016/2017 crop year “way after April 2017”.
The statement revealed that, the annual syndicated facility of $1.8 billion for the 2016/2017 crop year whose drawn-down started in October 2016 had been completely disbursed on December 31, 2016 without making any reservation whatsoever in the accounts of COCOBOD for fertilizers and chemical inputs.
Mr. Joseph Aidoo and the Management of Ghana Cocoa Board, added that, Upon discovery that patronage was low, with the approval of the Board of Directors it has decided to assist farmers operating pollinated farms with the organic fertilizers months before their expiration.
Okyeame Kwame’s 10th Marriage Anniversary
”NPP Geared Towards Job Creation” – Prez. Akufo-Addo
E.L To Perform At 2019 SXSW Music Festival
Shatta Michy Stabs Shatta Wale And Wanted By The Police?
“Shatta Wale Has Alleviated Zylofon Media Of Some Financial Instability” – Willie Roi
“You Can’t Sabottage My Talent Compared To Stonebwoy” – Joyce Blessing.
Music4 days ago
“Educate Yourselves Before You Educate Ghanaians” – Stonebwoy Urges Journalists.
Music4 days ago
Stonebwoy Leads 2018 Most Listened To Artiste Chart.
Movie News3 days ago
Yvonne Nelson Premieres Sin City On Val’s Day; Checkout Trailer.
Music2 days ago
“Support Okyeame Kwame’s ‘Made In Ghana’ Project” – Sarkodie To The Government.