Banks appetite for T-bills to drop; Loan book to expand – Report
Banks' appetite for treasury bills in favour of lending is expected to drop following the increase in the Cash Reserve Ratio (CRR) of banks.The...
Locked-up Investment Holders Forum to protest today
The Locked-up Investment Holders Forum will today March 27, 2024, embark on a protest against the Bank of Ghana (BoG).Their action is to impress...
GCB, Absa, OmniBSIC offer cheapest loans to households, SMEs and corporates – BoG
GCB Bank offered the cheapest loans to household consumers, the latest Annualized Percentage Rates by the Bank of Ghana has revealed.It offered a rate...
Commercial Bank glitch lets customers withdraw millions
Ethiopia's biggest commercial bank is scrambling to recoup large sums of money withdrawn by customers after a "systems glitch".The customers discovered early on Saturday...
Millions withdrawn from Commercial Bank of Ethiopia due to system error
Ethiopia's biggest commercial bank is scrambling to recoup large sums of money withdrawn by customers after a "systems glitch".The customers discovered early on...
Ghana close to signing MOU with bilateral creditors on debt restructuring – IMF MD
Ghana is close to signing a Memorandum of Understanding (MoU) with bilateral creditors as part of the restructuring of debts owed to these lenders....
I’ll establish a $50m fund to strengthen Fintech industry – Mahama
The flagbearer of the National Democratic Congress (NDC), John Dramani Mahama, has pledged to establish a $50 million fund to strengthen Ghana’s rapidly growing...
Bankers Association reacts to service interruption
The Ghana Association of Banks has notified customers of all banks the nationwide internet breakdown has interrupted service delivery.A statement signed by...
Minority accuses BoG of illegally writing off GH¢48bn gov’t debt
The Minority in Parliament has accused the Bank of Ghana (BoG) management of illegal activities related to the write-off of around GH¢48 billion in...
Banks prefer less risky assets; share of investments in total assets increased to 36.4% in 2023 – BoG
The share of banks investments comprising bills, securities, and equity in total assets increased to 36.4% in 2023 from 32.0% in 2022, according to...
BoG suspends GT Bank and FBN Bank Forex Trading Licenses
The Bank of Ghana(BoG) has suspended the Foreign Exchange Trading Licenses of Guaranty Trust Bank Ghana Limited (GTB) and FBN Bank Ghana Limited (FBN),...
BoG’s balance revision, transaction limits of MoMo wallets upwards takes effect today
The Bank of Ghana (BoG) has effective today, March 1, 2024, revised the balance and transaction limits of customers’ mobile money wallets upward. ...
500 women entrepreneurs to benefit from DBG’s GH₵1bn funding
The Development Bank Ghana (DBG) has emphasised its commitment to supporting the growth and development of women entrepreneurs in the country.The bank’s deputy...
BoG revises balance, transaction limits of MoMo wallets upwards
The Bank of Ghana (BoG) has revised the balance and transaction limits of customers' mobile money wallets upward, effective March 1, 2024.A statement...
Gov’t to introduce Fintech Innovation Fund – Bawumia
The Government has plans to set up a FinTech Innovation Fund to support Start-ups to drive Ghana's digital revolution.Vice President Mahamudu Bawumia announced this...
RightCard (LemFi) doubles down on Bank of Ghana approval with Nsano partnership
RightCard Payment Services Limited trading as LemFi, has received approval from the Bank of Ghana to partner Nsano Limited to deliver money transfer services...
Whether to establish a bank or not – MTN Ghana CEO sets records straight
The outgoing Chief Executive of the MTN Ghana, Selorm Adadevoh, has insisted that the company does not have any immediate plan of establishing a...
Total value of secured loans fall 54% to GH¢5.9bn in quarter 4 – BoG
The total value of secured loans granted and registered by banks and Specialised Deposit-Taking Institutions (SDIs) in the 4th quarter of 2023 was GH¢5.9 billion.This...
GCB Bank appoints Daniel Asirifi as Board Chairman
GBC Bank PLC (GCB) has appointed Daniel Kwaku Tweneboah Asirifi as the new board chairman.Asirifi’s assumption of office as board chairman of the bank...
Mahama mourns Access Bank CEO
Former President John Mahama has sympathised with the family of the late Chief Executive Officer(CEO) of Access Bank, Dr Herbert Wigwe.Dr Wigwe was...
Ad-hoc committee probing Gold Coast Fund issues to begin public hearing
The ad-hoc committee set up by the Speaker of Parliament to probe the non-payment of customers of the defunct Gold Coast Fund is set...
Access Bank confirms death of Group CEO
Access Bank has confirmed the death of its Group Chief Executive Officer, Dr. Herbert Wigwe.Mr. Wigwe, was killed in a helicopter crash in the...
I’ll establish a credit card system if elected as President – Bawumia
The Vice President of Ghana, Dr Mahumudu Bawumia has expressed readiness to establish a credit card system if elected as President in the December...
BoG commended for making economic data more accessible
The Bank of Ghana has received praise for enhancing the accessibility of economic data via its recently launched Database Portal.On Monday, February 5, 2024,...
BoG to meet GRA, financial sector stakeholders over illegal MoMo deductions Â
The Bank of Ghana will tomorrow February 6, 2024, meet officials of the Ghana Revenue Authority and stakeholders within the financial sector to address...
ADB and 5 others obtain authorisation to sell assets of PBC Ltd, including its head office
A court order has been granted to the Agricultural Development Bank (ADB) and five other banks, namely Cal Bank, Bank of Africa, GCB, Universal...
IMF deal: Second tranche of $600m hits BOG’s account
The second tranche of International Monetary Fund (IMF cash has hit the Bank of Ghana’s (BoG) account on Tuesday, January 23, 2024.The IMF...
Cocoa Bills: Wake up to your responsibilities – Senyo Hosi to COCOBOD, government
Former Convener of Individual Bondholders Forum, Senyo Hosi, has taken a swipe at the Ghana Cocoa Board (COCOBOD) and the government over the non-payment...
Don’t share pictures of Ghana Card, other banking cards – Public warned
The Ghana Association of Banks (GAB) has warned the public not to take pictures of their Ghana Cards or any bank cards and share...
Kofi Adomakoh elected President of Ghana Association of Banks
The Managing Director of GCB Bank Pic, John Kofi Adomakoh, has been elected the new President of the Ghana Association of Banks (GAB).He assumes...
Government to borrow GH¢12.7bn via T-bills in January 2024
The government is seeking to borrow GH¢12.7 billion via treasury bills in January 2024, to finance maturing bills.This is 1.2% lower than that of...
Togbe Afede XIV writes: Bank of Ghana has failed us
It was interesting to hear Bank of Ghana (BOG) officials pat themselves on the back because year-on-year inflation had dropped to 26.4% in November...
Ghana’s official creditors to convene for debt restructuring talks
Ghana's official creditors are set to meet on Monday, January 8, to discuss the restructuring of approximately $5.4 billion in loans, according to Reuters.This...
Nigeria leads Ghana in digital banking usage – KPMG Survey
Nigeria is leading Ghana in terms of the frequent use of digital channels, the 2023 KPMG West Africa Banking Industry Customer Survey.For instance, 70%...
Ghanaians turned to savings in foreign currency to protect investments – KPMG
A report conducted by KPMG has revealed a high number of shifts in the savings culture of some Ghanaians geared towards saving the value...
Admit you took an investment risk and lost out – Menzgold lawyer tells customer
"You simply took an investment risk and lost out." This was a statement made by the lawyer for defunct gold dealership firm, Menzgold to...
Credit risk remains elevated, slows down new lending by banks – BoG
Credit risk remained elevated during the third quarter of 2023, reflecting the sharp increase in the stock of non-performing loans in the banking industry,...
Ofori-Atta praises BoG for aiding in reset of financial architecture
Finance Minister, Ken Ofori-Atta, has commended the Bank of Ghana(BoG) for supporting his outfit for striving to reset the country’s financial architecture.According to...
Ghana’s average inflation to hover around 18% in 2024 – BoG
Ghana’s average inflation for 2024 is expected to hover around 18%, Fitch Solutions has revealed in its Sub-Saharan Africa Macro Key Themes for 2024....
Government does not owe BDCs – Hawa Koomson
The Minister of Fisheries and Aquaculture Development, Mavis Hawa Koomson, has said the government has cleared all outstanding debts owed Bulk Distribution Companies (BDCs).According...