Author: Ellen Dapaah
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BoG issues out new directives for banks on digital financial services
The Bank of Ghana has issued a strong warning to banks and specialized deposit-taking institutions to ensure fairness and transparency in the delivery of information via digital platforms. This new directive is contained in the Disclosure and Transparency Guidelines for digital financial services and products provided by these parties. The proliferation of mobile devices and…
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Ghanaians tasked to take advantage of self-service app to complete SIM re-registration
Ghanaians who have not re-registered their SIM cards and have started facing difficulties with some call and data services are being urged to take advantage of the self-service SIM registration app to complete the process. The National Communications Authority has instituted punitive measures for defaulting subscribers ahead of the deadline in a few weeks’ time.…
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Do not take advantage of economic crisis to impose high interest rates – GHASALC cautions members
The Ghana Association of Savings and Loans Companies (GHASALC) has cautioned its members against taking advantage of the current economic crisis to impose high interest rates on loans acquired by clients. The Executive Secretary of the Association, Tweneboah Kodua Boakye, lamenting the impact of the cedi depreciation and high inflationary rates on their businesses, also…
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Economist sceptical about govt’s chances of securing IMF deal by end of year
Financial Economist, Prof Lord Mensah, is sceptical about government’s chances of tying down a bailout program with the International Monetary Fund (IMF) in the last quarter of this year. This comes after the Managing Director of IMF, Kristalina Georgieva, in a meeting with the President of Ghana recently assured that a deal between Ghana and…
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Dr. Atuahene attributes Fitch’s downgrade of banks to Ghana’s overall economic performance
Banking and corporate governance consultant, Dr. Richmond Atuahene, has attributed the downgrade of three domestic banks by Fitch Ratings agency to the overall economic performance of the country. He explains that the overdependence on government bonds and bills which has been underperforming for some time now has put them in this state. On August 22,…
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About 6.4 million Ghanaians simultaneously food insecure and poor – GSS
The Ghana Statistical Service (GSS) has revealed that about 6.4 million Ghanaians are simultaneously food insecure and multidimensionally poor. This represents 20.8 percent of the total population of Ghana. According to the Service’s 2022 Annual Household Income and Expenditure Survey, 13.6 million people, 44.1 percent of the population, were found to be multidimensionally poor in…
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Almost 50% of Ghana’s population experiences food insecurity – GSS Survey
Data from the 2022 Annual Household Income and Expenditure Survey has revealed that 49.1 percent of the Ghanaian population was food insecure in the first quarter of the year. This represents 15.1 million of the 30.8 million persons in Ghana. The percentage however dropped by 7 percentage points to 42.1 percent in the second quarter;…
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Vlisco MD calls for unity among fashion industry players to weather economic storm
Just like all other businesses and industries are suffering the impact of the current economic situation, Ghana’s fashion industry is also bearing the brunt of the cedi depreciation and high rate of inflation. It is for this reason that stakeholders in the fashion and textile space are calling for more collaborative efforts among themselves in…
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SIM re-registration rate drops by 98% after deadline extension – Telcos Chamber
Barely a month after government announced another extension of the deadline for the SIM card re-registration exercise, the number of persons who have visited offices of the network service providers to have their SIMs registered has dropped by a whopping 98 percent. Data from the Ghana Chamber of Telecommunications has revealed that as of August…
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Nickseth Construction unveils production facility at Appolonia Industrial Park
As part of efforts to expand its operations across the various regions in Ghana, Kumasi-based leading construction firm, Nickseth Construction Limited has launched an operational yard and concrete production facility at Appolonia Industrial Park. The three-acre, state-of-the-art production complex is the company’s operational yard for the southern sector of Ghana. Nickseth Construction’s new factory has…