Author: Lawrence Segbefia
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Fraud cases in banking sector increase by 5.5 percent in 2019–BoG report
New figures released by the Bank of Ghana show that fraud cases in the banking sector increased to 2,295 from 2,175, representing 5.5 percent in 2019. The marginal increase in the number of fraud cases according to the central bank could partly be attributed to the improved efforts by the Financial Stability Department to identify,…
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Shareholders will enjoy dividends soon – ADB Board Chairman assures
Shareholders of the Agricultural Development Bank (ADB) have been assured of dividends soon as the Bank continues on the path of sustainable growth and profit making. According to the Board Chairman, Lawyer Alex Barnasko, under his leadership the Bank was now making profit and with a well laid out strategy shareholders will soon enjoy dividends…
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ADB encourages customers to update their records
The Agricultural Development Bank Limited (ADB) is encouraging customers to update their customer information details to ensure that all their details are accurately captured by the Bank. To ensure this , the Bank encouraging customers to visit the Bank’s website www.agricbank.com or any of the 83 branches nationwide to effect the update of their personal…
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Local banks now more resilient and able to support economic growth agenda – Finance Minister
The Finance Minister, Ken Ofori-Atta, says the banking sector reforms undertaken by government in 2017 and 2018, has strengthened local banks, making them more resilient to shocks. Assessing the balance sheets of local banks currently, the Finance Minister argued that the financial health of Ghanaian-owned banks are stronger compared to the period before the cleanup…
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Beverage producers optimistic eased COVID-19 restrictions will revive operations
Beverage producers in the country are hopeful the decision by government to provide stimulus package for small and medium enterprises will help large firms to continue supplying their clients in the value chain. A recent survey by the Ghana Statistical Service revealed that even though COVID-19 negatively impacted businesses, SMEs were the hardest hit with…
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COCOBOD to secure electronic weighing scales to stop LBCs from cheating farmers
The Ghana COCOBOD says it is importing electronic weighing scales for Cocoa License Buying companies to prevent the tampering of machines by Licensed Buying Companies to cheat cocoa farmers. The decision was arrived at after COCOBOD in collaboration with the Ghana Standards Authority followed up on a Joy News report on how some Licensed Buying…
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Reuters poll suggests cocoa prices may drop by 10% due to COVID-19
A Reuters poll of London cocoa futures forecast cocoa would cost 10% less at the end of the year, because of rising production and a hit to demand from the coronavirus crisis. But chocolate bars will not necessarily get cheaper partly because the price of cocoa is only one ingredient in the mix that makes…
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Petroleum Holding Fund for 2020 Q1 drops by $124m as against 2019 Q1
A new report by the Bank of Ghana shows that the country received a total of 310.14 million dollars into Ghana’s Petroleum Holding Fund (PHF) for the first half of 2020. Compared to same period in 2019, the figure dropped by $124. 34 million dollars as the figure for last year was $434.48 million dollars.…
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ADB customers can now self-register for the bank’s USSD service
Customers of Agricultural Development Bank (ADB) can now seamlessly self-register for the Bank’s *767# USSD service without visiting any branch of the Bank. This service allows customers to link their mobile money wallet to their bank accounts, check account balance, view mini statements, transfer Funds (account to wallet, wallet to account, inter-bank transfers, intra-bank transfers),…
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We’re committed to delivering value — Axis Pensions Group
Axis Pensions Group has assured its customers that the firm would continue to deliver value it’s stakeholders in line with its commitment. The group, which is the second biggest pensions administrator said while the Coronavirus disease was impacting negatively on the wider economy, measures were in place to ensure that the pandemic does not affect…