Category: Banking And Finance
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Ghana Rising Conference opens today in Accra
Captains of industry, policymakers and other key stakeholders will today converge at the Kempinski Gold Coast City Hotel in Accra for the much talked about Citi TV/FM Ghana Rising Conference. 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…
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Inflation for August 2019 records 7.8% after rebasing
The inflation rate for August 2019 recorded 7.8 percent, the Ghana Statistical Service (GSS) has announced. The figure was recorded after the GSS rebased the reference period to 2018 from 2012. This means that the Ghana Statistical Service has changed the reference period for calculating the inflation rate to 2018 from the previous 2012. In…
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Collapsed banks were beyond redemption – Addison
Governor of the Bank of Ghana, Dr. Ernest Addison, has maintained that it was the right decision to revoke the licences of some local banks as their level of insolvency and poor corporate governance structures did not make bail out a good option. The regulator has been accused by some members of the public for…
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GTBank introduces Quick Credit to provide customers instant access to loans
Guaranty Trust Bank (Ghana) Limited (GTBank) has introduced Quick Credit, a revolutionary USSD based product that allows salaried workers instant access to credit facilities on their phones. The product, accessible via the shortcode *737*0#, eliminates the need for paperwork and enables salaried GTBank customers to borrow up to 100% of their monthly salaries anytime, anywhere…
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![[Article] Savings – the most difficult and yet needful culture to cultivate](https://citibusinessnews.com/wp-content/uploads/2019/09/SAVINGS.jpg)
[Article] Savings – the most difficult and yet needful culture to cultivate
Most people have found it extremely difficult to put something away for the rainy day. But as long as there is life, the need to save cannot be toyed with. Thanks to the shrewd and astute people who have succeeded in mastering the art of saving, a number of secret strategies have been developed and…
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MTN, Ericsson launch Mobile Money open API platform in Ghana
MTN and Ericsson (NASDAQ: ERIC) have extended their Mobile Money partnership by launching an open API platform in Ghana to give entrepreneurs an opportunity to develop revenue-generating applications. MTN Mobile Money is the most widely used mobile money platform in Ghana. As part of the new agreement, MTN will grant access to third parties to…
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Cal Brokers to exit stock exchange
Cal Brokers is set to leave the Ghana Stock Exchange as it ceases its operations. A statement from the stock exchange indicated that the move is as a result of the decision of the Shareholder and Board of Directors who have announced their intent to resign from the membership of the GSE and leave the…
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Banks to absorb cost of deposit insurance scheme — Alhassan Andani
President of the Ghana Association of Bankers, Alhassan Andani has assured that banks in the country will take up the cost of the Deposit Protection Insurance Corporation when it comes into effect next month. The Deposit Insurance Corporation will protect depositors’ funds in the event of bank failure and revocation of licenses. In an interview…
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Insurance sector is still robust- Commissioner of Insurance
The National Insurance Commission says the country’s insurance sector has seen significant growth despite a dip in insurance penetration rate. The country experienced a reduction in Insurance penetration rate in 2018, from 1.12 percent to 1 percent. The NIC has attributed the decline to the rebasing of the economy which has now included other factors…
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Fidelity Bank holds fire safety drill at head office annex
Fidelity Bank organized a fire safety exercise at its Head Office Annex, Orange Height at Tesano in Accra in association with the Ghana Fire Service, NADMO, National Ambulance Service and the Ghana Police Service. The exercise was to test and demonstrate the bank’s readiness in the unlikely event of a fire disaster. This also forms…