Category: Banking And Finance
-
GRA risks missing 2019 revenue target as benchmark values reduction backfires
The Ghana Revenue Authority (GRA) is set to miss out on its revenue target for 2019 as the decision by government to slash the import benchmark values by about 50 percent takes a toll, Commissioner of Customs, Colonel Kwadwo Damoah has said. The customs division boss explained that the reduction in the benchmark values has…
-
FBN Bank Mobile App – Offering convenient banking on the go
Modern Information Communication Technology and the tools that come with it now facilitate, and some would say dictate, the nature of nearly every interaction. From how friendships are made through how social groups and events are organised to how million dollar companies are run, technology rules all. Like nearly every other modern endeavour, banking is…
-
BoG Governor Dr. Addison appointed IMF/World Bank Board Chair
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison has been selected to represent Ghana to Chair the Board of Governors of the Bretton Woods Institutions in 2020. A statement from the central bank explained that the selection of Ghana was done in recognition of the country’s impressive strides in macroeconomic stability achieved…
-
Bank of Ghana adopts new guidelines on repo agreements
The Bank of Ghana has adopted a set of guidelines to help facilitate the short-term trading of government securities between dealers as well as investors. Governor of the Bank of Ghana, Dr. Ernest Addison, who announced the new Guidelines for Repurchase Agreements at ongoing World Bank/IMF Annual Meetings in Washington DC, USA, said it will…
-
IMF predicts slower economic growth for Ghana
The International Monetary Fund (IMF) has said Ghana’s economy will grow at a slower rate than it had earlier predicted. The Washington-based lender in its latest World Economic Outlook predicted that Ghana’s economy will grow at a rate of 7.5 percent revising an earlier prediction of 8.8 percent it made in April. Ghana which exports…
-
FBNBank Ghana outdoors New Friday Wear Fabric
FBNBank Ghana Limited, a subsidiary of First Bank of Nigeria Limited, has outdoored its new corporate Friday cloth for staff of the bank. The FBNBank Friday wear cloth, which is blue coloured and designed with a combination of elements of the bank’s iconic logo, is also meshed with the elephant head in the yellow gold…
-
Ato Essien, 3 others granted bail by High Court
An Accra High Court has granted bail in the sum of GH¢200 million to the founder of defunct Capital Bank Ato Essien in the ongoing trial relating to the collapse of the bank. The court also asked for two sureties of which the persons standing in should be of good standing in society. The same…
-
African Development Bank and partners to develop green financing instruments
The African Development Bank, in partnership with the Climate Investment Funds, has commissioned the Coalition for Green Capital to prepare a study on the creation of national climate change funds and green banks in Africa. CGC will identify and work with six African countries to conduct feasibility studies for the project, which was initiated at…
-
![[Article] The Ghana Stock Exchange could rebound in the election year](https://citibusinessnews.com/wp-content/uploads/2019/09/stock-exchange-2.jpg)
[Article] The Ghana Stock Exchange could rebound in the election year
Should trend analysis be anything to go by, then the Ghana Stock Exchange should rebound next year 2020, the next election year after a woeful performance in 2019 currently returning about -16%. Investopedia defines trend analysis as a technique used in technical analysis that attempts to predict the future stock price movements based on observed…
-
Financial institutions must relax credit requirements for SMEs
Financial institutions will still succeed if they relax the stringent requirement for accessing credit, Chief Business Development Officer of Advans Savings and Loans, Giorgi Samadashvili, has said. Access to credit has been one of the biggest challenges of most small and medium scale enterprises. Apart from the prohibitive interest rates, many financial institutions have a…