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HFC MD pays courtesy call on presidency

WhatsApp Image 2017-09-28 at 8.59.49 AM (1)

The acting Managing Director of HFC bank, Anthony Jordan has paid a courtesy call on president Nana Addo after taking over from former MD of the bank, Robert Le Hunte. Mr. Jordan also used the opportunity to explain details of the first Caribbean Trade Mission ongoing in Accra. “Mr. President I am happy to inform you that we have here ...

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Petroleum production, manufacturing push Q2 economic growth

GDP pix new

Ghana’s economy began to show signs of recovery with higher petroleum production and better industry performance as the economy recorded a 9-percent growth in the second quarter, compared with 1.1 percent in the same quarter of 2016, according to figures released by the Ghana Statistical Service (GSS) on Wednesday. The value of the estimates based on current price was 45.35 ...

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August PPI increases to 6.6%        

Mr. Baah Wadieh, Acting Government Statistician

The Producer Price Inflation (PPI) increased to 6.6 percent for the month of August. The rate represents a 4.6 percentage points increase in producer inflation relative to that recorded in July which was 2.0 percent. The PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services. Speaking at ...

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Nana Addo to follow-up on $20bn Chinese loan


President Nana Akufo-Addo will next year visit China to follow up on some commitments made by the Chinese government to invest over 20 billion dollars in Ghana’s economy, Finance Minister, Ken Ofori-Atta has announced He explains that the purpose of the visit will also discuss bilateral trade issues with the government of China on government’s new policy of allowing the ...

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Implications of Bank Holding Company under new banking model and Basel III rules [Article]


  Executive Summary When we think of banks, we typically have in mind our local bank branch that stores deposits and issues personal or business loans.  Prima facie there is nothing wrong with this image. After all, there are still almost 35 unique commercial banks in Ghana that specialize in deposit-taking and loan-making. What we typically forget, however, is that most ...

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ITLOS case triggered high interest on Ghana’s Eurobonds


Ghana would have had a much lower yield on its 2015 and 2016 Eurobonds, if its case with Ivory Coast over the maritime boundary was not in existence. This was revealed by a former Finance Minister Mr Seth Terkper, who told host of Citi Breakfast Show Bernard Avle, that  the dispute between the two countries led to the high yields ...

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More banks considering mergers, takeover– BoG

Dr. Ernest Addison, Governor of the Bank of Ghana

The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has disclosed that the central bank has received some proposals from banks pushing for mergers and takeovers, following the announcement of the new capital requirement. The Bank of Ghana increased the capital requirement of banks from 120 million cedis to 400 million cedis in September 2017. The increment was ...

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BoG maintains policy rate at 21%

Governor of BoG, Dr. Ernest Addison

The Bank of Ghana (BoG) has for the first time this year maintained the Policy Rate at 21 percent. This follows three consecutive reductions from 25.5 percent in January to 21 percent July. Speaking at a press conference in Accra, the Governor of the Bank of Ghana, Dr. Ernest Addison attributed the decision to maintain the current figure on the ...

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Mixed expectations meet BoG’s policy rate decision

bank-of-ghana pic

There are mixed expectations ahead of the policy rate decision to be announced by the Bank of Ghana on Monday, September 25, 2017. The Monetary Policy Committee (MPC) of the central bank is set to announce a primary rate at which it will lend to commercial banks for onward lending to customers. Already, the rate has been reviewed downwards thrice ...

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Ghana’s debt stock hits ¢138.6bn in June 2017

Dr. Ernest Addison, Governor of the Bank of Ghana

New figures released by the Bank of Ghana(BoG) show that the country’s total debt stock is at 138.6 billion cedis as at June 2017. The new figure shows that Ghana’s debt increased by 1.3 billion cedis from May to June 2017 as the month of May recorded a debt stock of 137.3 billion cedis. The figures were contained in statement ...

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