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
Chief Imam endorses ‘Let Love Lead’s’ clean-up campaign at Nkrumah Circle
The National Chief Imam, Sheikh Osman Nuhu Sharubutu, has thrown his weight behind the upcoming city-wide clean-up exercise scheduled for Saturday, June 14, 2025, at Kwame Nkrumah Circle.
The revered Islamic leader gave his blessing during a consultative meeting with organisers of the exercise, calling the initiative a “commendable national duty” that aligns with both religious and civic responsibility.
The clean-up, which marks the third edition of a growing sanitation drive, is being organised by community stakeholders and supported by civil society groups.
This year’s exercise is especially symbolic as it coincides with the 10th anniversary of the June 3, 2015 flood and fire disaster that claimed over 150 lives at the same location.
“The well-being of our people and the cleanliness of our environment are acts of faith and service,” the Chief Imam said.
“We must all come together—Christians, Muslims, traditionalists, and non-religious people alike—to honour the memory of those lost and prevent future tragedies,” He added.
Organisers, ‘Let Love Lead’, say the Chief Imam’s endorsement adds significant moral weight to the campaign, which already enjoys growing national support.
Engagements have also been held with traditional rulers, MPs, government officials, and social influencers to galvanise wider participation.
This year’s event is expected to go beyond sanitation. Side activities include medical outreach, disaster preparedness education, interfaith prayers, and donations to victims of the June 3 disaster.
Nene Lartey Osakonor I (Big Dawood), a traditional leader spearheading coordination, described the Chief Imam’s support as “invaluable.”
He said, “We are deeply honoured by the Chief Imam’s endorsement.
“His message is a powerful reminder that sanitation is not just a government or NGO responsibility—it’s a spiritual and civic duty,” he added.
More institutions, volunteers, and media houses are expected to join the campaign as the date draws near.
News
Speaker joins Ugandan Parliament’s inaugural sitting
The Speaker of Parliament, Rt. Hon. Alban Sumana Kingsford Bagbin, was among distinguished African leaders who witnessed the Inaugural Sitting of the 5th Session of Uganda’s 11th Parliament yesterday.
The event, presided over by Uganda’s Speaker, Rt. Hon. Anita Anette Among, marked the beginning of the final legislative session before the country heads to the polls to elect new lawmakers.
Speakers and presiding officers from Namibia, Congo, East African Legislatures, Kenya’s Senate, South Sudan, and the Leader of the West Africa bloc of the Organisation of African, Caribbean, and Pacific States (OACPS) also attended the session.
In accordance with Uganda’s 1995 Constitution, President Yoweri Museveni delivered the State of the Nation Address, highlighting his government’s achievements.
Using pictorial evidence and videos, he showcased progress in infrastructure development, particularly road construction, and efforts to ensure food security.
The President also emphasized advancements in healthcare, including research initiatives and improved service delivery.
He further noted groundbreaking innovations in science and technology, such as the production and export of the Kirra electric cars.
President Museveni thanked Parliament for supporting government initiatives and pledged more developmental projects, including additional roads across constituencies. As Uganda prepares for elections, he expressed confidence in his National Resistance Movement’s performance while wishing all political parties well.
Following the address, Parliament is set to commence debates next week before receiving the President again for the budget presentation.
Speaker Among commended the President for his support to the legislature and urged Members of Parliament to uphold patriotism and dedicated service.
Bagbin Calls for African Unity
At a dinner hosted for visiting delegations, Rt. Hon. Bagbin, who also chairs the Conference of Speakers and Presiding Officers of African Legislatures (CoSPAL), urged Uganda to remain committed to African unity and socio-economic development.
The event reinforced the spirit of Pan-African cooperation as nations strengthen parliamentary ties for continental progress.
