Category: Banking And Finance
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Q3 2022: UBA’s Gross Earnings hit N608bn, Reports 12.3% Growth in Profit
Africa’s Global Bank, United Bank for Africa (UBA) Plc, has announced remarkable performance in its unaudited financial results for the third quarter that ended September 30, 2022, recording impressive growth across all its major indices, replicating the commendable performance it achieved in the first two quarters of the current fiscal year. Specifically, the bank’s Gross…
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BoG revokes license of two popular forex bureaux in Accra
The Bank of Ghana has revoked the license of the Airport City Forex Bureau within the Atlantic Tower building and Trade House Forex Bureau Ltd, a popular forex bureau at the Marina Mall. The closure follows the failure of the operators to issue receipts and the breaching of Foreign Exchange laws in the country. The…
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Standard Bank enters 17th decade as Africa’s largest financial business
In October 1862 in the city of Port Elizabeth, South Africa, what was to become Africa’s largest financial services business was birthed. Standard Bank, then known as The Standard Bank of British South Africa started doing business in a tent in Johannesburg, then known as Ferreira’s Camp, defying many odds in very challenging times. From…
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RCBs urged to leverage technology to meet changing needs of customers
The Bank of Ghana, BoG, is urging Rural and Community Banks (RCBs) to leverage current technologies to meet the fast-changing needs of their customers. This, the BoG believes will help the RCBs remain relevant to the segment of the economy that is traditionally served by the sector. Speaking at the 21st annual Chief Executive Officers…
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Take advantage of Regulatory Sandbox, BoG to fintechs and financial service providers
The Bank of Ghana has called on various fintechs and financial service providers to take advantage of its Regulatory Sandbox as part of government’s quest to drive financial inclusion. A regulatory sandbox is a framework set up by a financial sector regulator to allow small-scale, live testing of innovations by private firms in a controlled…
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Resilient investors key to building robust financial sector – SEC Boss
Director General of the Securities and Exchange Commission (SEC), Rev. Daniel Ogbarmey Tetteh is advocating the need for continuous financial literacy programmes by players within the capital and financial services industry as part of efforts to build a strong sector. This, according to him, will also build resilient investors within the Ghanaian financial landscape who…
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Prudential Bank leads conversation on PAPSS
Ghana’s leading indigenous bank, Prudential Bank Limited on Tuesday, 13th September, 2022 has organized a seminar at the Africa Regent Hotel in Accra to discuss the opportunities and benefits of the Pan-African Payment and Settlement System (PAPSS). The discussion which was held under the theme; Stimulating Trade in Africa through Efficient Payment Solutions- The Role…
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Mobile money loan defaulters to be denied access to future credit- BoG
The Bank of Ghana (BoG) has warned individuals who have acquired loans through Mobile Money platforms, but have deliberately refused to register their SIM cards with the intention of avoiding repayment of the loans to rescind the decision and clear their debt. A statement from the BoG stated that, “failure to repay such loans will…
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Cedi depreciation: BoG, Police arrest over 70 ‘Black Market’ dealers
Officials of the Bank of Ghana, in collaboration with the Ghana Police Service, have arrested over 70 individuals and entities engaged in the business of buying and selling foreign exchange without a licence from the apex bank. The move follows a special operation conducted by the two institutions on foreign exchange parallel market operators, otherwise…
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Ecobank names Jeremy Awori Group CEO, as Adeyemi retires
The Board of Directors of Ecobank Transnational Incorporated (ETI), the parent company of the Ecobank Group, have selected Jeremy Awori as Group Chief Executive Officer. This comes as the current Group Chief Executive Officer, Ade Ayeyemi, is set to retire after he attains the age of 60, in accordance with ETI policy. In a statement…