Category: Banking And Finance

The Finance Minister, Ken Ofori-Atta has reiterated that the high participation of foreign investors in Ghana’s recent issue of three billion dollars Eurobond confirms investor confidence in Ghana. Comparing the 3 billion dollar bond to the last bond of 750 million dollars raised under the erstwhile John Mahama administration, Mr. Ofori-Atta argued that government got…

A banking consultant, Dr. Richmond Atuahene has called for highly skilled human resource in the banking sector to drive the growth needed for the financial sector. Dr. Atuahene maintained that the focus going forward for the banking sector will be to build the needed human capacity to ensure effective leadership at all levels. “For me…

Fidelity Bank, the CIMG Bank of the Year, has opened an ultra-modern digital branch at Kwame Nkrumah University of Science Technology (KNUST) to serve students, staff and residents with the best banking service in a comfortable and friendly atmosphere. The new office, located in the heart of KNUST, is an addition to the over 75…

An Accra High Court has joined the Government of Ghana in a case in which Dr. Kwabena Duffuor and 16 others are challenging the receiver of now-defunct bank uniBank, Nii Amanor Dodoo over the revocation of the bank’s license. In its ruling, the court, presided over by Ms Justice Abena Dadzie, stated that: “It is…

The Absa Group Limited, formally Barclays Africa Group Limited is confident the passage of the Payment Systems and Services Bill into Law will urge banks to grow in the country. The Payment Systems and Services Bill which was passed into law is expected to promote innovation in the design of new secure electronic money products and payment services,…

The local currency, the Ghana Cedi experienced its strongest performance against the US Dollar in the past three months after gaining 8 pesewas to end Friday March 22, 2019, selling at GHC 5.16 on the interbank foreign exchange market. Historically, the Ghanaian Cedi reached an all-time high of 5.60 against the dollar at some forex…

Economist Professor Peter Quartey is positive Ghana will not return to the IMF if only it manages its expenditure and revenue better in 2020. Some economists have pointed out that governments overspend in election years, creating economic difficulties that compel Ghana to back to the IMF for a bailout. But speaking to Citi Business News,…

World Bank Africa Vice President, Hafez Ghanem will arrive in Ghana on Sunday, March 24, 2019 as part of a three-day mission to the country. Vice President, Hafez Ghanem will pay a courtesy call on His Excellency President Nana Addo Dankwa Akufo-Addo to discuss macroeconomic, fiscal and monetary policies and highlight opportunities for investing in…

The International Monetary Fund(IMF) has disclosed to Citi Business News that the final tranche of the 925 million dollar Extended Credit Facility will be paid to government on March 29 2019. The IMF officially ended the Extended Credit Program for Ghana on March 20 which is two weeks earlier than the April 2019 deadline. According…

The Executive Board of the International Monetary Fund has approved the final disbursement of about US$185.2 million to Ghana. Ghana is scheduled to complete an IMF programme with the fund in April 2019. According to the IMF, its Executive Board completed the seventh and eight reviews On March 20, 2019, under the Extended Credit Facility…