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
At least six people have been confirmed dead following a stampede at the El-Wak Sports Stadium in Accra today, November 12, 2025, during an ongoing military recruitment exercise according to the Ghana Armed Forces (GAF)
“The Ghana Armed Forces deeply regrets to inform the general public of a tragic stampede nrinr to the commencement of the 2025/2026 recruitment exercise today Wednesday 12 November 2025 at the El-Wak Sports Stadium, Accra,” GAF confirmed in a statement.
Preliminary investigations indicate that the stampede was triggered by an unexpected who breached security protocols and rushed into the gates ahead of scheduled screening surge of applicants hours.
“The unfortunate incident led to the death of 6 potential recruits and many others injured. The injured are currently receiving emergency medical care at the 37 Military Hospital. Ghana Armed Forces assures the general public that medical teams are working tirelessly to stabilise affected individuals,” the statement revealed.
Meanwhile, arrangements are being made to notify the families of the deceased.
The Ghana Armed Forces has extended its deepest condolences to the families of the deceased and wishes a swift recovery to those injured.
By Edem Mensah-Tsotorme
The Ghana Armed Forces and the Ghana Police Service have launched simultaneous joint operations in parts of the Ashanti, Volta and Ahafo regions to arrest persons linked to recent attacks on anti-galamsey teams and other security officials.
The swoops, which began at dawn on Wednesday, November 12, are taking place in Dadwene and Anwona in the Ashanti Region, Ehi in the Volta Region, and Hwediem, Kenyase, Guaso and Marhani in the Ahafo Region.
According to a statement from the Ghana Armed Forces, the exercise is intelligence-led and targets individuals suspected of attacking members of the National Anti-Illegal Mining Operations Secretariat (NAIMOS), some police officers, Environmental Protection Agency (EPA) officials, and journalists.
The Armed Forces and Police warned that anyone who tries to obstruct security operations, especially anti-galamsey activities, will face the full force of the law.
They assured residents in the affected areas that enough security measures have been taken to protect innocent citizens and urged them to remain calm and continue their daily activities without fear.
The statement commended civil society groups, the media and members of the public for condemning the recent attacks on security personnel and encouraged continued cooperation in the fight against illegal mining.
By: Jacob Aggrey
