Kennedy Agyapong Declared Wanted By Dubai Police ADubai-based Ghanaian businessman, Kennedy Agyapong has taken to his heels and is nowhere to be found after being declared wanted by the Dubai Police. Mr. Agyapong, Kasapafonline.com understands, has defrauded a Maid Services Aagency in Dubai and is being wanted by the security agency to refund the money. According to the 2016 Auditor-General’s report, Kennedy Agyapong, a brother of two stranded Ghanaian ladies brought the ladies to be sold as maids after recruiting them from Ghana to the United Arab Emirates to serve as house maids. When his nefarious activities were discovered by the Dubai Police, Mr. Agyapong took to his heels, leaving the burden on the Ghanaian mission in Dubai to refund the money to the Maid Services Agency. Briefing the Public Accounts Committee (PAC) over the issue, Director of Finance at the Foreign Affairs Minister, Bismarck Amoako, said the activities of Kennedy Agyapong were brought to the attention of the mission and demanded a refund to the maid service agency. The mission, he noted, had to make payments to the tune of AED 2,075.00 on behalf of the two stranded Ghanaians. However, when Mr. Kennedy Agyapong was contacted, he refunded only AED1,000 on April 1, 2016, leaving a balance of AED1,075 which is still outstanding. Mr. Agyapong, according to the Director of Finance, cannot be traced for the remaining amount. “The man cannot be traced in Dubai, unfortunately. But the general thing is that we do have these incidents every now and then where the missions are called upon to discharge its duties since they are Ghanaian citizens but in this case if you look at the outstanding balance, it is US$ 292. We’ve searched the whole of Dubai and can’t find him to come and refund that amount”, he noted. | |||
Implications of Microfinance for Efficient Finance Systems in Ghana. BY ATTA GEORGE PEPRAH Most Microfinance (MFIs) in Ghana are deposit-taking institutions. However, deposit-taking is not without risk. MFIs must be able to lend profitably enough to pay for and protect the deposits they mobilize. They must also be able to cope with temporary downturns when these arise. Failure to do so can quickly harm financial stability and deprive small depositors of their deposits. For this reason, Ghana has subjected their banking sectors including the MFIs to prudential regulation. There are several players in the microfinance sub-sector. Rural and Community Banks (RCBs) constitute the largest players in the rural formal banking sector. RCBs are unit banks owned by community members and stand out as the largest financial players in terms of geographical coverage According to ARB Apex Bank (2013) as at 2013 there were 143 RCBs with 546 branches across the country with more than 1.2 mill...
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