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
News
Upper West Regional Police Command secures conviction against notorious robbers
The Upper West Regional Police Command is pleased to announce the conviction and sentencing of Abdulai Ibrahim alias Baba, 34 (Driver Mate) and Abdulai Kipo, 36 (Butcher), for their involvement in conspiracy to commit crimes to wit robbery and robbery.
The duo were found guilty and sentenced to 28 and 18 years imprisonment in Hard Labour, respectively.
The accused persons were implicated in a series of robberies across the Napogbakole, Danko, SSNIT, and Konta areas of the Wa Municipality.
Their arrest and conviction were made possible through intelligence-led investigations and meticulous gathering of evidence by the Regional Police Intelligence Directorate.
The conviction and sentencing were carried out at the Wa Circuit Court, presided over by His Honour Jonathan Avoogo.
The court’s verdict underscores the Command’s commitment to ensuring justice and safety in the region.
The Upper West Regional Police Command reaffirms its determination to make the region safe for peaceful coexistence and will continue to work tirelessly to combat crime and protect its residents.
News
Police arrest two suspects for possession of suspected narcotic substance at Ayi Mensah
The Ghana Police Service has arrested two suspects for possession of eleven (11) large compressed sacks of a substance suspected to be narcotics at Ayi Mensah in the Greater Accra Region.
The suspects, Mathew Narkotey and Augustine Teye, were arrested by a team from the National Operations Department (NOD) on June 7, 2025 during routine patrols. The suspects were onboard a Mazda pick-up truck with registration number GT 3490-P when a search uncovered the suspected narcotic substance concealed in the vehicle.
The vehicle and the suspected substances have been impounded and are currently secured at the Joint Operations Centre for evidential purposes.
Both suspects are in police custody assisting with investigations, while efforts are underway to arrest one Martey, named by the suspects as the intended recipient of the consignment.
