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Banking And Finance

Former BoG official denies EOCO invitation

Raymond Amanfu

A former Head of Banking Supervision at the Bank of Ghana, Raymond Amanfu has denied receiving an invitation from the Economic and Organized Crime Office (EOCO) over investigations into the collapsed UT and Capital banks. Media reports suggested that Mr. Amanfu has been asked to report to EOCO tomorrow in connection with his tenure at the Bank of Ghana. The ...

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7.3m Ghanaians without financial account—World Bank report

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A new report released by the World Bank shows that 7,310,000 people in Ghana do not have any form of financial account. This means that more than 7 million Ghanaians do not have either a mobile money account or bank account to electronically receive and transfer money. According to the report titled “Gains in Financial Inclusion, Gains for a Sustainable ...

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Ecobank Mobile app hits one million customers in Ghana

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The Ecobank Mobile App has registered over 1 million customers in Ghana since its launch in November 2016. The millionth customer, Madam Priscilla Bamfo, successfully downloaded and on-boarded the App at precisely 6:46 pm on Wednesday 16th May, 2018, exactly 18 months after the launch of the app on November 16, 2016, a statement copied to Citi Business News said. ...

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Tax justice: global solutions needed to lift global veil of secrecy

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Effective taxation lies at the heart of the social contract between citizens and the state. It is a powerful instrument to reduce inequality, stimulate growth and enhance human development – for all countries. But getting it wrong is costly – tax evasion, tax avoidance and a lack of transparency destroy trust in public institutions. For citizens everywhere, in Africa, in ...

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BoG has no visibility on Mobile Money activities– George Andah

Dep Communications Minister, George Andah

A Deputy Minister for Communications George Andah has disclosed that the Bank of Ghana (BoG) has no capacity to properly monitor mobile money activities, hence the decision to bring in Kelni GVG to give government confidential data on mobile money transactions. According to him, the quality of data is very important to forecast the revenue generated in the area. His ...

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Finance Minister to chair World Bank Devt Committee

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Finance Minister, Ken Ofori-Atta has been appointed as chairman of the Development Committee of the World Bank. The Development Committee is a joint committee of the boards of governors of the International Monetary Fund (IMF) and the World Bank, which advises the Bank and the IMF on critical development issues and the resources needed to promote economic development. Mr.  Ken ...

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Ken Ofori-Atta wins African Finance Minister of the year award

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Ghana’s Finance Minister, Ken Ofori-Atta has been awarded the prestigious African Finance Minister of the year at the Annual African Development Bank (AfDB) Meeting in Busan, South Korea. The award follows Ghana’s recent macroeconomic performance. Recognised as Africa’s most results-oriented Finance Minister, Ken Ofori-Atta’s prudent economic management has boosted confidence and optimism in Ghana’s economy – hauling it out of ...

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BoG to finalize fate of struggling local banks by July

Dr. Ernest Addison, Governor of the Bank of Ghana

The Bank of Ghana (BoG) is set to take a final decision on the fate of local banks that may not meet the capital requirement by July. Even though banks in the country have until December 31st this year to meet the 400 million cedis capital requirement, the central bank is said to have already drawn its own plans to ...

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Oil emerges as second largest export earner – BoG report

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Ghana’s oil sector emerged as the second largest contributor to the country’s exports for 2017. The country raised an estimated three billion dollars from the oil resources in 2017. Official figures released by the Bank of Ghana show that the total revenue Ghana raked in from her exports stood at 13.8 billion dollars. A further breakdown shows that gold contributed ...

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Patience Akyianu joins Hollard as Group CEO

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The Outgoing Managing Director of Barclays Bank, Patience Akyianu has been appointed as the Group Chief Executive of Hollard Ghana Holdings Limited. Her appointment is expected to take effect in October this year – 2018. Madam Akyianu joins Hollard after resigning from Barclays Bank in early May. A statement from Hollard Ghana Holdings to Citi Business News on the appointment ...

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