Category: Banking And Finance
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Exchange rate pressures may push policy rate up—Economist
Pressures from the cedi depreciation could compel the central bank to increase the policy rate by first half of 2019, economist Adu Owusu Sarkodie has projected. According to him, the demand for dollars in December due to the festive season could have an effect on the exchange rate forcing the Bank of Ghana(BoG) to use…
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IMF warns government against over borrowing
Managing Director of the IMF, Christine Lagarde has warned government against excess borrowing, stating that it could derail economic gains achieved by the country. Madam Largarde is in the country for a two-day visit to complete processes for Ghana’s exiting of the programme with the IMF. Speaking at a conference organized by her outfit in…
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CAL Bank gets shareholders’ backing to meet minimum capital
Shareholders of CAL Bank have voted for the bank to move 50 million cedis from its income surplus to stated capital in order to meet the minimum capital requirement. This was at an Extraordinary General Meeting held on Monday [December 17, 2018]. This also follows the bank’s decision to solely rely on capitalization of income…
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![How a credit card differs from a debit card [Article]](https://citibusinessnews.com/wp-content/uploads/2018/12/credit-cards-1.jpg)
How a credit card differs from a debit card [Article]
At this point, I am confident that the haziness that clouded the knowledge of credit cards has been cleared somewhat. However, how the card differs from a debit card is still an issue for many and in this article, I will attempt to clarify the differences, beginning with some scenarios. Scenario One Kojo’s wife had…
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IMF’s Christine Lagarde starts two day visit to Ghana
The Head of the IMF, Christine Lagarde is in Ghana for a two day visit. Her coming is ahead of the nation’s exit from the Fund by the end of this year. Madam Christine Lagarde’s visit is viewed by some analysts as symbolic as it may signify the Fund’s impression with Ghana’s overall performance under…
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Small scale businesses benefits pension contribution
The Association of Small Scale Industries has began processes with National Pensions Regulatory Authority to ensure its members benefit from pension as well as access to funds to grow their businesses. This, the association says is key in addressing the major challenges of the businesses which include access to funds to enhance their operations. Members…
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Access Bank Ghana appoints new Managing Director
Access Bank (Ghana) Plc. announces the appointment of Mr. Olumide Olatunji as its new Managing Director, effective December 5, 2018. He replaces Mr. Ifeanyi Njoku who has now taken up a new role within the Access Bank Group to support the Bank’s expansion drive in line with its new 5-year strategic growth plan. His appointment…
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ADB is not delisting from stock market – Kofi Yamoah
The managers of the Ghana Stock Exchange have dismissed claims that ADB is planning to delist from the stock exchange. There have been reports that the new majority shareholders of ADB had taken the decision. But the Managing Director of the stock exchange, Kofi Yamoah insists that is not the case. “I have been privy…
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Fidelity bank appoints Julian Kingsley Opuni as new MD
Fidelity Bank has appointed Julian Kingsley Opuni as its new Managing Director. His appointment took effect on December 1st 2018. Mr. Opuni takes over from Jim Baiden who retired as the MD of the bank in October 2018. Until his appointment, he was the Deputy Managing Director; a position he held since November 2017. Julius Kingsley…
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Business of Christmas: Secondhand cloth dealers lament low sale
With few days to the Christmas, dealers in secondhand children clothing are complaining of low sales. A visit to the Makola and Kantamanto markets in the central business district of Accra, revealed that the sale of both brand new and secondhand clothing for children is yet to see some boost. At the Makola market, several…