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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Old Mutual celebrates 177th anniversary globally, 10 years in Ghana

    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Value of MoMo transactions decrease by 3% between March and April 2022

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

  • TECHNOLOGY

    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

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Heritage bank to commence operations in February

bycitibusinessnews
January 16, 2017
in Banking And Finance, Top Stories
Prof. Kwesi Botchwey

Prof. Kwesi Botchwey

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Heritage bank, one of the new banks which recently got the green light from the Bank of Ghana(BoG) to operate as a commercial bank in Ghana is to begin full operations in February this year.

The bank which is a wholly owned Ghanaian bank, got the nod from the BoG to commence business operations as a universal Bank in the last quarter of 2016.

Citi Business News can confirm former Minister of Finance as well as board chairman of National Development Planning Commission, Prof. Kwesi Botchwey has been appointed as the Board chairman of the bank while renowned banker Mr. Patrick Edwin Fiscian will serve as the bank’s Managing Director.

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Patrick Edwin Fiscian has worked with Ecobank, Unibank as well as Standard Charted bank.

Heritage bank’s entry into the banking industry brings the number of commercial banks in the country to 33.

Last year the central bank gave Omni bank, Ghana Home Loans and Premium bank all regulatory licenses to operate as commercial banks.

Citi Business News has gathered the central bank will give three other licenses by the end of the year and this is likely to see the number of banks in Ghana move up to 36.

The development is expected to push up competition in the industry but at the same time limit the space since the growing number of banks will follow the same clients for deposits.

–

By: Vivian Kai Lokko/citibusinessnews.com/Ghana

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