Category: Banking And Finance
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More collaboration needed to further de-risk Agric sector – GAB
As government continues to contemplate introducing legislation to force banks to lend to the Agriculture sector, the Ghana Association of Bankers is calling for increased collaboration between public and private sector players to de-risk the sector. This comes on the back of recent remarks by the Minister of Food and Agriculture, to the effect that…
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Farid Antar retires after 43 years at Republic Bank
Following 43 years of dedicated service to the Republic Bank Group (now Republic Financial Holdings Limited of Trinidad & Tobago), the parent company of Republic Bank Ghana, Managing Director of Republic Bank Ghana, Farid Antar, officially retired from active service on Thursday, July 14, 2021. A statement issued by the Bank notes that, “with a…
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Introducing legislation to force banks to lend is not the way to go – GAB advises
The Ghana Association of Banks has advised against using legislation to force banks to lend to the Agriculture sector. This comes on the back of recent remarks by the Minister of Food and Agriculture, to the effect that the banking sector has not been lending enough to the country’s agriculture sector to support its transformation.…
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GSE partners UN SSE to boost sustainable trading
In its quest to promote sustainable development, the Ghana Stock Exchange has partnered the UN Sustainable Stock Exchange, SSE, initiative as a new member. Through this move, the Ghana Stock Exchange has solidified its commitment to transparency and sustainability by becoming a partner exchange of the UN SSE initiative. This makes the Ghana Stock Exchange…
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GSE, Young Investors Network launch investment educational programs for the youth
As part of its objective to increase awareness and deepen financial literacy in the country, the Ghana Stock Exchange has partnered the Young Investors Network (YIN) and other industry players to launch a bouquet of Investment Education Programs for the youth. The move is aimed at promoting interest in savings and investment amongst the youth,…
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UMB celebrates Alisa as part of 50th Anniversary celebrations
The leadership of the Universal Merchant Bank (UMB), a leading indigenous Ghanaian bank, led by the Chief Executive Officer, Nana Dwemoh Benneh, paid a courtesy call today on one of its pioneering customers – Mr. Kwame Ofosu Bamfo (CEO of Alisa Hotels) at their plush Alisa Hotel Tema site as part of its key customer…
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S&L sub-sector contributes 35.1% of total assets for Q1 of 2022 – BoG
Second Deputy Governor of the Bank of Ghana, Elsie Addo Awadzi, has disclosed that the savings and loans sub-sector contributed 35.1 percent of the total assets of the specialized deposit-taking institutions sector in the first quarter of 2022. While commending the savings and loans sector for their significant role in the economy at the 12th…
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Non-resident Ghanaians can use their passports for banking transactions – BOG
The Bank of Ghana has issued a directive to banks in the country to allow non-resident Ghanaians who have not yet registered for or do not have access to their National ID cards to use their passports for banking transactions until they obtain their cards. This directive comes a few days after banks started demanding…
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Revocation of UniCredit’s license unlawful – Court of Appeal rules
The Court of Appeal has overturned the Bank of Ghana’s decision to revoke the license of UniCredit Ghana Limited. The appellate Court describes the Central Bank’s decision as an unlawful exercise of its powers. The three-member Court, with Justice Gbiel Suurbaare as President, was unanimous in its decision on Thursday to quash the BoG’s revocation…
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Volume of registered internet banking customers drop by 4.8% in 2021 – BoG
Data from the Bank of Ghana has revealed that the number of registered internet banking customers declined by 4.8 percent to 970,435 in 2021, compared to 2020. According to the Central bank’s 2021 Payment Systems Oversight Annual Report, registered mobile banking customers also decreased to 4.06 million in 2021, from 4.77 million in 2020. Despite…