Category: Banking And Finance
-
![[Audio] Price escalation in Ghana : Traders shun 1& 5 pesewas](https://citibusinessnews.com/wp-content/uploads/2019/10/pesewas.jpg)
[Audio] Price escalation in Ghana : Traders shun 1& 5 pesewas
A decade and two years after the re-denomination of the Ghana cedi, access and use of the 1 and 5 pesewa coins is still on the low. This is because consumers are compelled not to use them to pay for one transaction or another as most traders are still hesitant to accept the denominations as…
-
NBC Ghana Trust calls for transparency in pension trustee administration
The Chief Executive Officer of Negotiated Benefits Trust Company Limited (NBC Ghana Trust), Mr. William Asiedu Yeboah, has called for transparency in corporate and individual trustee administration following the impact of the recent banking reforms undertaken by the Bank of Ghana. Mr. Yeboah explained that “The trustees (corporate and individual) licensed are required to provide…
-
Stanchart Ghana to pay GH¢140m dividend to shareholders next year
Standard Chartered Bank has announced Friday, March 30, 2020, for the payment of dividend to its preference shareholders. In a notice published in today’s newspapers, the bank announced the payment of dividend to its preference shareholders for the period of six months to March 2020. In June this year, the bank declared a dividend of…
-
Nigeria to charge 12 banks US$1.3bn for failing to meet loan deadline
Nigeria’s central bank plans to charge 12 banks a total of more than 400 billion naira ($1.3 billion) for failing to meet its minimum loan-to-deposit ratio requirement by a September deadline, three banking sources told Reuters on Thursday. The central bank has been seeking to boost credit to businesses and consumers after a recent recession…
-
SEC urges businesses to explore financing opportunities on capital market
The Securities and Exchange Commission (SEC) has asked business owners to look beyond traditional banking for medium and long term credit support. According to the commission, although the capital market provides a lot of funding opportunities, only a few businesses turn to it to raise funds for their operations. “Traditionally, Finance Managers often resort to…
-
Ghana, 2 other countries named rising stars of global trade
Ghana together with neighbouring Côte d’Ivoire have been named have named as markets that have most rapidly improved trade growth potential over the past decade, according to new research from Standard Chartered. The Trade20 index, which identifies the 20 rising stars of trade, places Côte d’Ivoire in the top spot of African markets, and Kenya…
-
GCB Bank constructs 6-classroom block in Sawuah in Afram Plains
GCB Bank has constructed and handed over a six-classroom block for school children in Sawuah, a community close to Donkorkrom in the Afram Plains District in the Eastern region to replace their school building which collapsed five years ago. The school building which costs GH¢400,000, comes with a staff common room, a water reservoir and…
-
Fidelity Securities launches Fixed Income Trust and Fidelity Balanced Trust
Fidelity Securities Limited (FSL), the asset management subsidiary of Fidelity Bank Ghana Limited, has launched two collective investment schemes: Fidelity Balanced Trust and Fidelity Fixed Income Trust. The introduction of these two products will enable FSL to reach a wider section of the investing public and help more Ghanaians in their quest to financial freedom.…
-
SEC freezes issuance of new fund management licenses
The Securities and Exchange Commission (SEC) has placed a six-month moratorium on the issuance of new fund management licensing as it begins processes to overhaul the licencing regime as well as clean up troubled sector. A release issued by the Commission stated that it will, however, continue to review applications for renewals for existing Fund…
-
First Finance Company launches two mutual funds
First Finance Company Limited, has launched two Mutual Funds onto the Ghanaian Market. The two funds are the Financial Independence Fund and the Elite Mutual fund. The Financial Independence Fund is targeted at investing in high-quality investment-grade fixed income securities that will provide security and liquidity for investors in emergencies such as temporary loss of…