On Wednesday, CBG presented a cheque for GHS300,000 to the Ghana Medical Trust Fund (GMTF) to advance its mission of providing financial assistance to Ghanaians battling critical non-communicable diseases.

The donation was led by CBG Managing Director, Dr. Naomi Wolali Kwetey, who described the contribution as a modest gesture toward a much larger cause.

“This is just a token, and we will come back with more going forward. I want to commend you for the good work you are doing. Until we came here today, we had no idea about the magnitude of the work you have put in. You are doing very well,” Dr. Kwetey said during the presentation.

The Heal Ghana Month campaign encourages both individuals and corporate institutions to support the Trust Fund’s mandate of assisting patients who cannot afford treatment for life-threatening non-communicable diseases.

Receiving the cheque on behalf of the Board of Trustees and management, Administrator of the Fund, Obuobia Darko-Opoku, expressed profound gratitude to the bank for stepping forward at a critical time.

“We are speechless and deeply touched that despite the many pressures and responsibilities on the bank, you chose to remember us,” she said. “What you have done today is give some Ghanaians a second chance at life. We urge you to continue standing with us so that together we can heal Ghana.”

CBG’s gesture highlights the growing support from corporate Ghana for the Heal Ghana Month campaign, as more organizations respond to the call to help save lives through the Ghana Medical Trust Fund.

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The bank stated that its normal banking operations continue as it observes the suspension by the Bank of Ghana.

“We believe the concerns raised in the notice can be swiftly resolved and are committed to working closely with the Bank of Ghana to ensure compliance. We want to reassure our valued customers that this suspension does not affect CBG’s normal banking operations,” a statement issued by the bank said.

The statement clarified that, except for foreign exchange products and services, all its branches and digital platforms continue to provide customers with a full range of services.

“We fully expect to restore foreign exchange products after our engagement with the Bank of Ghana or upon the expiration of the suspension period,” the bank added.

“We apologize unreservedly for any inconvenience this situation may have caused and reaffirm our dedication to maintaining the highest standards of operational compliance across all aspects of our business,” the statement further noted.

Background

The Bank of Ghana (BoG) suspended the Foreign Exchange Trading Licence of Consolidated Bank Ghana (CBG), effective November 26, 2024, for a period of one month.

The central bank explained that the suspension follows a number of breaches of foreign exchange market regulations, including the Updated Guidelines for Inward Remittance Services for Payment Service Providers (November 2023), and the Anti-Money Laundering/Combating the Financing of Terrorism & The Proliferation of Weapons of Mass Destruction (AML/CFT&P) Guideline (December 2022), which have come to the attention of the Bank of Ghana.

According to BoG, the licence will be restored at the end of the one-month suspension period, once the Bank of Ghana is satisfied that CBG has implemented effective controls to ensure strict adherence to the foreign exchange market regulations.

The Bank of Ghana has also cautioned foreign exchange market players to strictly adhere to the applicable forex market regulations and guidelines.

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This is part of its Corporate Social Responsibility (CSR) efforts and is in line with the Sustainable Development Goals (SDGs).

The CBG Sickbay Project is an initiative aimed at improving the healthcare infrastructure in selected secondary schools across Ghana, providing students with access to quality medical services and promoting overall well-being.

The newly commissioned sickbay at Methodist Senior High/Technical School is the first of many such facilities that CBG plans to establish under this project.

The sickbay is equipped with essential medical equipment, including beds, office equipment, and basic first-aid supplies.

Speaking at the commissioning ceremony, Deputy Managing Director of CBG, Thairu Ndungu, emphasised the Bank’s commitment to supporting education, health, and community development in Ghana to advance SDGs 3, 4, and 6.

“As a responsible corporate citizen, we recognize our commitment to the community and the importance of providing a conducive environment that prioritizes their health and well-being.

“The CBG Sickbay Project is our way of contributing to the holistic development of the next generation,” Mr Ndungu said.

He added that the project is proof of CBG’s dedication to building stronger communities and creating a lasting impact on the lives of Ghanaians.

The Headmistress of the School, Monica Oforiwaa Asiedu expressed gratitude to CBG for the valuable contribution.

“This sickbay will greatly improve the medical care that we provide to our students, ensuring their physical and mental well-being during their time at our school. We are truly grateful to CBG for this impactful initiative,” she said.

The CBG Sickbay Project is part of the Bank’s broader Corporate Social Responsibility strategy, which focuses on addressing key societal challenges in the areas of education, healthcare, and community development.

The Bank plans to roll out the project to more schools across Ghana in the coming years, positively impacting the lives of students.

Present at the event were the Deputy Director-in-charge of Supervision, Berekum Municipal Directorate of Education, Stephen Agyei Munufie; Berekum Municipal Disease Control Officer, Fred Azu; Methodist Bishop of Sunyani Diocese, Rt. Rvd. Kwaku Effah, Deputy Managing Director of Operations at CBG, Thairu Ndungu, Director of Retail and Business Banking at CBG, Emmanuel Nikoi, and other management members.

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This partnership is designed to provide convenience for CBG customers, as they will be able to conduct all their financial business in one location, making CBG a one-stop shop for their financial needs.

In order to enhance and continually improve the experience of customers, this service will be conducted electronically, with speed, efficiency and accuracy in mind.

Allianz Insurance is one of the world’s leading insurers and asset managers with more than 100 million retail and corporate customers. CBG is the second largest indigenous bank in Ghana with over 114 networked branches.

The partnership will offer three products to CBG customers; Motor Insurance, Home Insurance and Travel Insurance.

The Motor Insurance product responds to both the minimum requirements of the Road Traffic Act and also includes a comprehensive cover.  The Home Insurance product offers protection for home and contents against risks such as Fire, Flood, Earthquake, theft, etc.

The policy is relevant and available to both Homeowners and Renters. The Travel Insurance policy takes care of emergency medical expenses while travelling outside of Ghana. In addition, the policy can be extended to include loss of baggage, delayed and canceled trips.

The coming together of Allianz Insurance and CBG gives clients an opportunity to learn about insurance and select suitable products that are priced and packaged to meet their specific needs.

The CEO of Allianz Insurance, Mr Darlington Munhuwani assured clients that “this is a partnership for the success of our clients. Allianz’s promise is to; insure and secure the future of all the clients who will be covered in terms of this agreement. Our staff and processes are all geared towards meeting this objective”.

The Managing Director of CBG, Daniel Wilson Addo in his remarks emphasized that service and product enhancements are priority to the vision of the bank. Hence, partnering Allianz is a strategic move to upscale product offeringsto give customers convenience and absolute peace of mind.

According to Mr Agyapong, though people will try to score political points due to the job losses that were recorded, it supersedes the free Senior High School programme.

Speaking on Accra-based Metro TV, he said though the outcome is regrettable, it was for the good of the country, adding that he must be applauded.

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“If Akufo-Addo had not come in to save these banks 4.6 million depositors would have lost their money. Can you compare 4.6 million depositors to the 3,000 people we’re talking about?” he quizzed.

The Bank of Ghana in 2018 announced the creation of the Consolidated Bank Ghana Limited to take over some struggling banks in the country.

Royal Bank, Beige Capital, Sovereign Bank, Construction Bank and uniBank were four financial institutions that had allegedly run into liquidity challenges.

The government made 450m cedis available for the Consolidated Bank as starting capital.

According to Dr Anita Oppong, her decision to pursue her doctorate degree was to put herself in shape for the challenging financial institution.

“At a point I felt I was getting rusty because there wasn’t much to be done when I joined Sovereign Bank and I realized people looked up to me and there was more I could do so I enrolled in the program, she explained”.

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To her, she believes what she studied will go a long way to help her in executing her duties as Head of Corporate Communications, especially because CBG as an indigenous bank has a story to tell.

“The stories to be told would help improve the company’s brand and also increase customer loyalty which was part of what i studied and therefore plans on putting them into good use by pulling the right strings,” she assured.

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Dr. Anita Oppong, mother of four who was full of praise at her graduation ceremony thanked her husband all the support she needed to enable her  complete her course.

” My husband was virtually  submitting all my assignments. When I am out of town he comes, follows everything and makes sure I never miss out on any assignment.

He has been so supportive and my children have been amazing too. My husband is one of the main reasons I was able to complete this course”, she said beaming with smiles.

Over 200 former workers of newly created Consolidated Bank Ghana Limited (CBG) have besieged their employer’s office at Asylum down demanding their unpaid salary.

According to the workers, CBG has terminated the contract defunct Unibank had with Top Recruitment Agency but their outstanding arrears have not been paid.

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Speaking to Adom News, the workers said delay payments of their salary is affecting their livelihood.

Efforts to reach CEO of Top Recruitment Agency, Isaac Ansah on delay payments of the salary proved futile.