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PwC selects ‘buyers’ of UT, Capital banks’ loan portfolios

ut capital

The Joint Receivers of collapsed UT and Capital Banks, PricewaterhouseCoopers (PwC) has told Citi Business News it will select the institution with the most competitive option in defraying the loan portfolios of the two banks, as it reviews the shortlisted applications. According to the receivers, this will ensure value for money and benefit affected customers of the two collapsed banks. ...

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U.S Customs seizes $143k from three Ghanaians

CBP officers seized $143,968
in unreported currency from
three Ghanaian men at
Washington Dulles International
Airport January 13-14, 2018

U.S. Customs and Border Protection officers, seized $143,968 in unreported currency from two men who departed for Ghana, and one who arrived from Ghana in three separate incidents during the weekend at Washington Dulles International Airport. CBP is not releasing the travelers’ names because none was criminally charged. During outbound inspection operations Sunday, CBP officers seized $100,111 from a man ...

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Investor confidence influences ‘lower’ interest on 10yr energy bond


Economists have attributed the relatively lower interest rates on the re-opened ten year energy bond to the relative stability in the Ghanaian economy. The managers of ESLA Plc, the entity mandated to raise money to settle the energy sector debts, yesterday had its ten year bond oversubscribed at an interest rate around 19 percent. This is below the target of ...

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10yr energy bond accrues 615 million cedis


ESLA Plc, the entity mandated to raise money to pay the debts in Ghana’s energy sector has raised GH¢615,947,860 through its ten year bond that it reopened. The bond which was reopened on Monday (January 22, 2018) and closed on Wednesday (January 24, 2018), targeted between 100 and 130 million cedis from the market. Today’s amount is about six times ...

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Value of Mobile Money transactions doubles in 9 months

Mobile Money

New figures released by the Bank of Ghana (BoG) show a tremendous growth in the value of mobile money transactions from January to September 2017, compared to the same period in 2016. According to the data, total value of mobile money transactions from January to September 2016 increased from 51.4 billion cedis to 109 billion cedis. This represents 112.2 percent ...

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ESLA Plc closes tap in of 10 yr bond today


The Managers of ESLA Plc, the entity mandated to raise money to pay Ghana’s energy sector debts, are expected to close the re-opening of the 10 year bond, on Wednesday, January 24, 2018. ESLA Plc in November 2017, issued 7 and 10 year bonds to raise some 6 billion cedis to settle outstanding debts in the energy sector. The debt ...

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Accent financial begs for time over locked up cash                                                          


Accent Financial Services has assured customers it has commenced processes to pay all outstanding arrears owed customers. According to the management of the company, the new plan should help it fulfill its mandate as soon as possible. This follows some agitations from customers over their inability to retrieve their locked up cash from the company. The latest development comes three ...

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Cedi depreciates 3.4% to dollar in 2017

Ghana Cedi

The cedi’s losing streak against major trading currencies continues on the foreign exchange market. Even though there is an indication of a marginal improvement in the cedi’s performance, the currency is still struggling to stabilize against major ones. According to the Bank of Ghana, between May and December 2017, the cedi depreciated by 3.4 percent to the dollar on the ...

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Cryptocurrency users unfazed by BoG’s caution                                              


Some cryptocurrency operators have welcomed the Bank of Ghana’s stance on the use of digital currencies saying it will protect users from fraud. The Co-Founder of Crypto Ghana, Bernard Owusu Mensah explains that the announcement will however least affect organisations like his that engage in the trading of digital currencies. The Bank of Ghana has cautioned the public against transacting ...

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BoG to reduce policy rate in mid 2018 – ABSA Capital

Dr. Ernest Addison - BoG Governor

Some analysts have suggested that the Monetary Policy Committee (MPC) of the Bank of Ghana could keep its rate at least until May this year – 2018. According to the Africa strategist at Absa Capital, Ridle Markus, the decision to maintain the rate runs contrary to their expectation for a 100 basis points cut. The Governor of the Bank of ...

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