Category: Banking And Finance
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Access Bank to pursue aggressive loan growth in 2019
Access Bank Ghana has made a commitment to strongly grow its loan book this year despite a higher than average Non-Performing Loan ratio when compared to other banks in the country. Whereas gross earnings of the Bank were up by 12 percent in 2018, its loans and advances however declined by 6 percent in 2018.…
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MTN not sabotaging Mobile Money Interoperability– GhIPSS
The Ghana Interbank Payment and Settlement Systems (GhIPSS) has confirmed that the challenges that customers of MTN are having with sending money from the network to others has to do with capacity issues which all stakeholders involved are working on to resolve. This follows several complaints by customers of MTN over persistent challenges with the…
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Majority of Rural Banks in stable conditions, only a few in distress—ARB Apex Bank
The parent company of rural banks, ARB Apex Bank has told Citi Business News even though a few of its members are under financial distress majority are solvent hence are able to meet liquidity supply. A newspaper report stated that 21 rural banks out of 143 are completely safe while the rest go through severe…
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Ken Thompson downplays IMF, World Bank growth projections for Ghana
The Chief Executive Officer of Dalex Finance, Kenneth Thompson has downplayed the significance of the IMF and World Bank projections for Ghana’s economy. The IMF and the World Bank have projected a growth rate of 8.8 percent and 7.6 percent respectively for Ghana’s Economy, making it one of the fastest growing economy in the world…
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Ex-workers of defunct UT, Capital banks hopeful meeting with Labour Dept will be fruitful
Ex-workers of defunct UT and Capital Banks who allegedly had their contracts terminated by GCB Bank for not possessing the minimum qualification required to work with the bank, are hopeful a scheduled meeting between them, the management of GCB Bank, and the Labour Department will be fruitful. The ex-workers who maintain that the termination of…
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Financial institutions must provide credit to business women—2nd Dep Governor of BoG
Some leading female executives and government appointees say the financial conditions are right for financial institutions to advance more credit to business women in the country. The latest data from the Bank of Ghana shows that the three largest recipients of total credit or loans in Ghana, namely, commerce & finance, services and manufacturing sectors…
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GIPC expresses disquiet over presentation of forged documents in business registration
The Ghana Investment Promotion Center has expressed disquiet about the increasing rate at which foreign entities presenting forged documents to business regulators in Ghana. According to stakeholders at the 2019 Economic Counsellors Dialogue organized by the Ghana Investment Promotion Center (GIPC), if the situation is not addressed it can negatively impact Ghana’s image in the…
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Inflation for March increases to 9.3 percent, second consecutive time
The Consumer Price Inflation (CPI) for March 2019 has increased to 9.3 percent. The rise represents a 0.1 percentage increase relative to the 9.2 percent recorded in February 2019. The Consumer Price Inflation (CPI) measures the change over time in the general price level of goods and services that households acquire for the purpose of…
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Ghana Is the Star in IMF’s 2019 Economic Growth Forecast
Ghana will be the fastest-growing economy in the world this year, according to the International Monetary Fund. The lender’s growth forecast of 8.8 percent for the producer of cocoa, gold and oil dwarfs the 6.6 percent median in a Bloomberg survey. The IMF’s projection in its latest World Economic Outlook published Tuesday is “way too…
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Prof. Samuel Kobina Annim named new gov’t statistician
An Associate Professor of Economics, Professor Samuel Kobina Annim has been appointed as the new Government Statistician. He assumed duty on March 1, 2019. The appointment of Prof. Annim by President Akufo-Addo was recommended by the Public Services Commission. Prior to his coming into office, David Kombat was acting as the government’s statistician following the…