For most abundant Ghanaians that when had flourishing corporations, 2019 marked the end of their enterprise owing to big setbacks notably owing to the unsteadiness of the financial sector which had their company folded.
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Some of these loaded folks had been viewed as enterprise titans in the Ghanaian company house and managed some volume of prosperity, or at minimum, people’s monies.
However, these individuals ‘failed’ to regulate their business enterprise regardless of either getting presented sizeable time to preserve their enterprise or had been bailed out by the Lender of Ghana (Bog).
No matter of their reduction in 2019, these abundant folks have other thriving organizations.
1: Dr Paa Kwesi Nduom
A Ghanaian small business consultant, politician and promoter of GN Financial savings and Loans Business.
GN Discounts and Financial loans Firm lost its procedure licensing after it became in-liquid.
The organization started out as Very first National Personal savings and Loans (FNSL) Firm Limited and certified as a Discounts and Loans Organization.
On September 4, 2014, the corporation was renamed GN Financial institution Restricted following it was issued with a common banking license by the Lender of Ghana.
On January 4, 2019, the financial institution was reclassified from a universal bank to a Personal savings and Financial loans Firm mainly because it was not equipped to meet up with new necessary minimum amount paid-up money of GH¢ 400 million by December 31, 2018.
The economical condition of the establishment deteriorated since the reclassification with equally adverse capital adequacy ratio and destructive web worthy of.
2: Mark Opoku
An attained entrepreneur, founder and CEO of Legacy Money Financial savings and Loans.
Opoku was responsible for guaranteeing that Legacy Funds attains its strategic objectives. He is also the founder and chairman of Legacy Economical Products and services and Very first Benefit Believe in.
On 12th August 2016, Legacy Cash was certified to operate as Price savings and Loans Business in Ghana by the Bank of Ghana. It, nonetheless, began genuine operation in November 2016.
Bog revoked the license of Legacy Funds on the grounds of insolvency and liquidity problems.
3: Dr Nii Kotei Dzani, operator of Great Finance Minimal and Very first Have faith in Personal savings and Financial loans Limited had his organization misplaced its operation license immediately after the corporation constantly failed to satisfy the least cash reserve requirement of 10% of its full deposits.
Great Finance shareholders failed to restore the bank to the demanded regulatory funds and liquidity ranges.
In other stories, YEN.com.gh reported the Kristo Asafo Mission of Ghana unveiled a 40-ft vehicle created by the Kantanka Vehicle Business Limited at the Mission’s 39th Technological Exhibition.
The 39th Technological Exhibition came off at the Apostle Safo School of Artwork and Science (ASSAS) at Awoshie Last Quit. YEN.com.gh beforehand reported that Kantanka Car Confined showcased its new stretch automobile developed in the kind of an aeroplane, minus the wings, on Sunday, December 29, 2019.
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