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    World Trade Centre Accra Accra announces partnership with Altkom Akademia to offer professional education in Africa

    Ghana has the 4th cheapest average cost of internet in Africa – Statista

    Africa’s internet economy to cross $180 billion by 2025: Report

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    African Finance Ministers tasked to allocate more resources into education sector

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    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

    E-Levy is an overhyped revenue generation measure – Seth Terkper

    Leverage crises to improve fortunes of continent – Ofosu-Dorte

    Unilever Ghana PLC remains upbeat about future growth prospects

    Citi Business Festival enters final week; forum on agribusiness comes off today

    BoG must enforce regulations on informal forex trading – Prof. Quartey

    DBG will mirror KfW’s successful banking model to benefit SMEs

    Cedi Summit comes off today at Alisa Hotel

    BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD

  • TECHNOLOGY

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

    Citi Business Festival: Acquiring digital skills key to securing employment – Maximus Ametorgoh

    Bank of Ghana commences piloting of digital currency in Sefwi Asafo

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    Africa’s internet economy to cross $180 billion by 2025: Report

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    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

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Rural banks deposits increase by 22% to reach GHS4.3bn

byNerteley Nettey
October 23, 2020
in Banking And Finance, Top Stories
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Latest figures from the Central Bank covering the second quarter of 2020, shows an improvement in the value of deposits mobilized by rural and community banks (RCBs) between April and June of 2020, when compared to the same period in 2019.

According to the data, deposit mobilization by rural and community banks, RCBs,  saw a jump in the past twelve months by 22 percent.

The data also stated that deposits increased from GHS 3.5 billion in quarter two of 2019 as compared to GHS4.3 billion for quarter two of 2020 representing an increase of 6.4 percent.

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This comes despite the impact of the COVID-19 pandemic on the economy.

In terms of assets, total assets of rural and community banks for the second quarter of 2020 was valued at GH¢5.1 billion cedis, representing a growth of 5.4 percent from GH¢4.8 billion recorded in the first quarter of 2020.

On year-on-year basis, total assets grew by 18.5 percent at the end of the second quarter of 2020.

Total assets of the rural and community banks in the banking system constituted 3.5 percent at the end of the second quarter of 2020, broadly the same composition as at the end of the first quarter of 2020.

Loans and advances made by the rural and community banks also stood at GH¢1.5 billion in the second quarter of 2020, indicating a rise of 3.1 percent from GH¢1.4 billion recorded at the end of first quarter of 2020.

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