Author: citibusinessnews
-
Don’t take loans from these 19 unlicensed firms – BoG warns
The Bank of Ghana (BoG) has warned the public to desist from receiving loans from unlicensed loan providers and thus issued a list containing the names of such entities. The BoG says the activities of these unauthorised loan providers are in contravention with the Banks and Specialised Deposit-Taking Institutions Act. The list of the unlicensed…
-
DVLA announces guidelines for 2023 vehicle registration
The Driver and Vehicle Licensing Authority (DVLA) has announced a set of required guidelines to aid vehicle owners to have their cars registered for next year, 2023. The Licensing Authority in a statement advised the general public to follow the guidelines to have their vehicles registered as required by the Road Traffic Regulations, 2012 (L.1 2180).…
-
Debt-ridden Ghana’s Cedi posts world’s biggest gain against US Dollar
Ghana’s currency took the title of the world’s best performer against the dollar this week amid optimism the debt-distressed country is moving closer to unlocking an International Monetary Fund bailout. The cedi has rallied 10% in the past five days, the biggest advance among about 150 currencies tracked by Bloomberg. That’s a turnaround for an…
-
IMF and Ghana expected to reach staff-level agreement by Tuesday
The International Monetary Fund (IMF) and Ghana are expected to reach a staff-level agreement on a loan deal by Tuesday at the latest, said three sources with knowledge of the ongoing talks. The IMF did not immediately respond to a request for comment. A spokesperson for Ghana’s finance ministry said they cannot comment beyond that…
-
Debt exchange programme: BoG announces relief packages for banks
In its quest to strengthen the banking sector and help manage the possible impacts of government’s proposed debt exchange programme on banks in the country, the Bank of Ghana has outlined a number of policy and regulatory relief packages for these institutions. The move is to help preserve the financial stability of these financial institutions…
-
S&P downgrades Ghana from CCC+ to CC; says local debt in default
S&P Global has downgraded Ghana’s long-term local currency bonds to “selective default” and cut the country’s foreign currency debt to “CC” from “CCC-plus,” with default a “virtual certainty,” the rating agency said in a statement on Tuesday. S&P said Ghana’s proposed local debt swap is a “distressed exchange offer,” earning those bonds the “selective default”…
-
Ghana Link signs MoU with CUPIA to improve transactions at ports
As part of efforts to boost revenue generation and security at the ports in Ghana and neighboring countries, Ghana Link Network Services Limited, the technical operator of the Integrated Customs Management Systems (ICUMS) at the nation’s ports has signed a Memorandum of Understanding with the Customs UniPass Agency of Korea (CUPIA). During the signing ceremony,…
-
MASLOC pays courtesy call on former Prez J. A. Kufour
The Chief Executive Officer of MASLOC, Hajia Abibata Shanni Mahama Zachariah led the Management of the institution to pay a courtesy call on the former President of the Republic of Ghana. The CEO of MASLOC, who was ably accompanied by Deputy Chief of Staff Mr. Emmanuel Adumua-Bossman, informed the former president that their visit on…
-
Africans urged to bolster adoption of Bitcoins
Stakeholders within the Africa digital trading sector are pushing for the strategic use of Bit coins on the continent. This according to the players will give users a trading avenue which is not directly impacted by the global high inflationary rates currently confronting countries. Speaking during the maiden edition of the African Bitcoin Conference in…
-
Over 8 million SIM cards blocked – Ursula reveals
Over 8 million unregistered SIM Cards have been blocked following the rollout of punitive measures by the Ministry of Communication and Digitalisation and the National Communications Authority, sector minister Ursula Owusu-Ekulful has revealed. Speaking to journalists on the sidelines of the 14th ITU Kaleidoscope event, Ursula Owusu-Ekuful said those who are yet to re-register their…