On July 13, 2022, the Community Court of Justice of the Economic Community of West African States (ECOWAS Court) shall deliver its judgment in a suit challenging the propriety of the Agyapa Deal initiated by the Government of Ghana (GoG). On December 20, 2020, Transparency International (TI), Ghana Integrity Initiative (GII), and Ghana Anti‐Corruption Coalition...
After the successful incorporation of a company, the law requires certain meetings to be held by the company as a going concern. Among such meetings are the Annual General Meetings (“AGM”) and the Board of Directors Meetings (“Board Meetings”). Concerning the time interval for having an AGM, it should not be more than fifteen (“15”)...
Every Company at a point will require growth. Depending on the size of the company, investments may be required in a form of either equity (shares) or debt (loans). If the investment is acquired in a form of a debt, then the company may enter into debt arrangement with a financial institution on the amount...
The conversation relating to the August 1, 2018 announcement of the ‘collapse’ and so-called ‘consolidation’ of the five banks[1]went from taking stock of the intensity of what had happened and quickly veered into what ought to be the personal liability of the directors and management involved with these banks. Over the rest of the week...
The Bank of Ghana (BOG) on March 20, 2018, appointed KPMG as “official administrator” of Unibank Ghana Ltd (“Unibank”). According to the BOG, the appointment of the official administrator is to save Unibank from imminent collapse and prevent losses to depositors and creditors. This is the second time the BOG has intervened in the operations...
The Minority in Parliament on 5 September 2017 gave a press release with respect to an approval given by the Minister of Finance (“Minister”) concerning a credit facility taken by McDan Shipping Company (“McDan”) from the Agricultural Development Bank (“Bank”). According to the government, the Bank (through its Managing Director) sought the approval from the...