Category: Banking And Finance
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Fidelity Bank appoints two Deputy Managing Directors
Fidelity Bank has appointed Edward Opare-Donkor and Samuel Aidoo as Deputy Managing Directors in-charge of Operations and Support Functions, and Wholesale Banking respectively. Until their appointments, Edward Opare-Donkor was the Bank’s Chief Operating Officer while Samuel Aidoo was the Group Head of Wholesale Banking of Fidelity Bank. Mr. Edward Opare-Donkor has a strong background and…
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Western Union partners MTN to allow direct remittance into mobile wallets
Western Union, a leader in cross-border- cross-currency money movement and MTN, a leading provider of telecommunications services in Africa and the Middle East, have come together to enable customers in Ghana to receive Western Union® money transfers into their MTN Mobile Money wallets, giving them convenience at their fingertips. Through this product offering, over 14…
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MPC keeps policy rate at 16 percent; fourth time running
The Monetary Policy Committee of the Bank of Ghana has decided to maintain the policy rate at 16 percent — for the fourth time running. Chairman of the MPC, Dr. Ernest Addison who announced the decision in Accra explained that the policy rate was kept unchanged as a precautionary measure to allow the bank to…
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Ghana’s debt stock at 205.5 billion cedis by July 2019
New Data released by the Bank of Ghana shows that the country’s total debt stock has hit 205.5 billion cedis by July 2019, representing 59.4 percent of GDP. The data shows that between May and July this year Ghana’s debt stock increased by 5.5 billion cedis. By May 2019, the debt stock was at 200…
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#GhanaRising: Blame high interest rates on poor management of banks — Oteng-Gyasi
Renowned industrialist and former President of the Association Ghana Industries, Tony Oteng-Gyasi says there is no doubt the prevailing high-interest rates in the country could be traced to the poor management of financial institutions. Speaking at the Citi TV/FM Ghana Rising Conference on Thursday, Mr. Oteng-Gyasi stated that banks were passing on their inefficiencies to…
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Reduce cost of credit, power, rent for indigenous businesses – Michael Kottoh
Managing Partner of Konfidants, Michael Kottoh is advocating a reduction in the cost of doing business and support for targeted businesses if Ghana is to improve its competitiveness. Speaking at the opening of Citi FM’s Ghana Rising Conference on Thursday, he cited the high cost of credit, power as well as rent charges for office…
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First National Bank Ghana Limited gives financial inclusion a major boost as it introduces agency banking
The government’s financial inclusion policy has received a major boost from First National Bank Ghana Limited. In a move that is expected to greatly contribute to the reduction in Ghana’s unbanked population, First National Bank Ghana Limited has announced the introduction of its agency banking initiative which has been lauded as a major success in…
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Ghana Rising Conference underway
The Ghana Rising Conference organized by Citi FM/TV is underway at the Kempinski Hotel in Accra. The goal of the one-day conference is to fashion out deliberate policies that will allow Ghanaian indigenous businesses to be able to boost their capacities and go beyond the borders of the country. One of the key highlights of…
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FBN holds first mini draw of Save and Win promo
FBNBank has held the first mini draw to reward winners of its Save and Win promo aimed at deepening te savings culture in the country. The draw awarded 10 customers of the bank. The first three customers walked away with a smartphone while those in the fourth to tenth positions received mobile network airtime each…
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Dr. Nduom writes: Out of adversity, a golden key to the future can come, long term investments
Introduction A lot has been said and done about banking reforms in Ghana and the use of taxpayer funds to guarantee deposits and pay them back to customers. Experience elsewhere, in the UK, USA and other environments with more mature investment climates, offer lessons we can use forge a credible way forward in the investment…