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Accountants, Auditors must help in building Ghana


An Associate Director at Deloitte Ghana, Kwabena Situ is advising players in the accounting and auditing space to develop their capabilities to tackle issues of national concern to strengthen the economy. Mr. Situ is optimistic the improvement will also aid in contributing their quota to national development. “When communicating data, you need to be aware of certain things so in ...

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Decouple Banking Supervision Dept. from BoG—Cal Bank MD

Frank Adu Junior - MD, CAL Bank

The Managing Director of Cal Bank, Frank Adu is calling for a decoupling of the Banking Supervision Department from the Bank of Ghana(BoG) to enhance its monitoring roles. According to him, the department is currently under resourced hence is unable to fully undertake its responsibility of monitoring and sanitizing the banking sector. Speaking to journalists after taking their turn at ...

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BoG’s MPC concludes assessment of economy today

bog microfinance

The Monetary Policy Committee (MPC) of the Bank of Ghana will Friday, May 18, 2018, conclude its meetings on assessing the economy. The committee is expected to provide its verdict on the economy and announce a new policy rate on Monday, May 21st, 2018. At the last MPC meeting in March, the policy rate was reduced by 200 basis points. ...

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Bawumia justifies review of mobile money interoperability deal


The Vice President, Dr Mahamadu Bawumia has justified the New Patriotic Party (NPP) administration’s decision to review the controversial 4.6 billion dollars Sibton Switch System deal downwards, describing it as the right decision. Speaking at the launch of the Pay Systems Company Limited in Accra today [Wednesday], Dr. Bawumia said the country is getting more at less cost under the ...

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Be innovative to compete with fintechs—BoG Governor to banks  


The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has urged banks to innovate or risk being disrupted by emerging financial technology companies in the country. Acknowledging the competition being posed to banks by the emerging financial technology companies otherwise known as Fintechs, the governor called for the banks to reinvent themselves. Speaking at the launch of a third party financial ...

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Banks, BDCs to shave off GH¢800m from GH¢1.6bn debt


It appears the woes of commercial banks regarding their exposure to Non Performing Loans (NPLs) may not be ending anytime soon with the latest development from the Bulk Oil Distributors regarding their indebtedness to some banks. Information available to Citi Business News indicates that banks that are owed by the Bulk Oil Distributors (BDCs) are to lose at least 800 ...

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Dusk Capital launches ‘conquer your fears campaign’


Investment Bank, Dusk Capital has launched a campaign dubbed ‘Conquer your fears’ to boost public confidence in investment and encourage people to save towards their future. The PR campaign which comes in two phases, is also aimed at helping people overcome their fears in life as they prepare for future endeavors. The first phase saw some of Ghana’s renowned celebrities ...

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‘Mobile money interoperability scored 3,000 transactions on first day’ – GHiPSS

telecom mobile money

The newly built mobile money interoperability platform had about 3,000 transactions the first day it was launched by the Vice President, Dr. Mahamudu Bawumia on May 10, 2018. This was disclosed by the Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems (GHiPSS), Archie Hesse, on the Citi Breakfast Show on Tuesday. “I am quite happy to share the volumes with ...

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FBN Bank urges savings habit with new promo


FBNBank Ghana has launched its second edition of its Save and Win Promo dubbed “FBNBank Save and Win”. The promo is aimed at creating value and opportunities to the bank’s existing and prospective customers. The promo is also targeted at deepening the clarion call to Ghanaians to develop a savings culture. Addressing the media, Chief Executive Officer of the Bank, ...

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Barclays bank shareholders approve name change to ABSA


Shareholders of Barclays Africa Group Limited have approved that the bank changes its name to Absa Group. Today’s approval is expected to set in motion, the start of one of the largest re-brand projects in Africa. A statement from Barclays Bank to Citi Business News on the matter said that the name change is expected to take effect in July ...

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