News
GSE revokes licences of two companies
The Ghana Stock Exchange (GSE) has revoked the licences of Liberty Securities Limited (LSL) and First Atlantic Brokerage Limited (FABL).
According to the GSE, the decision to expel the two companies was due to the various infractions with respect to rules of operations on the exchange.
A press statement issued by the GSE said LSL and FABL would not be able to execute trades on the market, provide advisory services to clients on capital market issues, and hold in lien or in trust clients’ accounts or their security holdings, in accordance to Rule 78 of the GSE Dealing Membership Rules.
Rule 78 of the GSE Dealing Membership Rules requires a member of the Exchange to comply with the prevailing requirements of the Securities and Exchange Commission in respect of capital, liquidity, reports and returns.
In the case of FABL, the regulator noted that, the company had operated without an Authorised Dealing Officer (ADO) for more than three months.
In addition, the company’s financial status showed a significant deterioration in its operations, resulting in successive negative returns which have eroded shareholders’ funds, the statement said.
The FABL is in breach of regulation 22 of the SEC Regulations, 2003 (L.I. 1728), which requires a Broker-Dealer to maintain at any given time, minimum liquid fund amounting to at least 20 per cent of the aggregate indebtedness of the Broker-Dealer, the statement added.
Similarly, LSL were found to be operating without an ADO for more than three months, contrary to Rule 6(j) of the GSE Dealing Membership Rules.
Moreover, they had low net shareholders’ fund balance and low liquidity position and had been inactive on the market due to the lack of ADO to execute trades.
For customers of the now defunct stock traders, the Exchange said procedures have been provided for them to transfer their security accounts and security holdings to any LDM of their choice.
The GSE had also provided a help desk or a correspondence officer to each LDM to respond to clients’ issues.
Source: Ghanaian Times
The Ghana Highway Authority has announced a temporary traffic management arrangement on sections of the Accra Tema Motorway and the Tetteh Quarshie Interchange as construction work continues on the motorway expansion project.
In a public announcement issued on March 5, the Authority explained that the arrangement forms part of ongoing construction works under the Accra Tema Motorway and Extension Projects.
It noted that the traffic adjustment is required to allow contractors carry out T beam launching works for the expansion of the Tetteh Quarshie Interchange Bridge on the N1 highway.
Under the arrangement, lanes on the N4 northbound carriageway, which serves traffic moving from Accra to Madina, will be temporarily closed.
Meanwhile, the southbound carriageway from Madina to Accra, which currently has four lanes, will be reconfigured into two lanes in each direction to accommodate traffic moving both ways.
The Authority indicated that the temporary traffic changes will take effect from Monday, March 9, 2026 and are expected to last for four months.
According to the statement, the lane reduction is necessary to create a safe working space for construction personnel and to ensure the safety of motorists using the road.
The Authority therefore advised drivers to be cautious, obey traffic signs and cooperate with traffic management officials throughout the construction period.
It encouraged members of the public who require further information to contact its Public Affairs Division through WhatsApp on 0551622244.
By: Jacob Aggrey
The National Chief Imam, Osman Nuhu Sharubutu, has congratulated the Government and people of Ghana as the country marks its 69th Independence Day, urging citizens to renew their commitment to national unity and democratic values.
In a statement to commemorate the celebration on March 6, he encouraged Ghanaians to use the occasion to strengthen their dedication to constitutional democracy, economic progress, interfaith harmony and peaceful coexistence.
He observed that the world was currently facing several challenges, including the rise of authoritarian governments and increasing military conflicts among nations.
According to him, humanity was experiencing turbulent times, with genocidal attitudes and violent extremism becoming more widespread in different parts of the world.
The Chief Imam explained that such global developments should inspire Ghanaians to come together and deepen their commitment to nation building while embracing unity in diversity.
He noted that although colonialism left a painful mark on the country’s history, Ghanaians could take comfort in their collective determination to overcome colonial subjugation and build a free nation.
Reflecting on the country’s independence struggle, he indicated that Ghanaians now remembered the victory for liberty rather than the hardship endured during the fight against tyranny.
The National Chief Imam offered prayers for divine guidance and blessings for the President, John Dramani Mahama, the Government and the people of Ghana.
By: Jacob Aggrey
