Category: Banking And Finance
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DBG will mirror KfW’s successful banking model to benefit SMEs
KfW, the German development bank, has reaffirmed that its partnership with the recently launched Development Bank Ghana (DBG), which was signed in December 2021, seeks to provide much-needed support to the Small and Medium-sized Enterprise (SME) sector and thereby promote the sustainable development of the Ghanaian economy based on a model similar to its own.…
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BoG’s supply of dollars to BDCs drops from 85% to 21% within 3 months – CBOD
The Ghana Chamber of Bulk Oil Distributors (CBOD), has called on other players in the foreign exchange supply market to step up their efforts to ensure the demand for US Dollars by Bulk Distributing Companies (BDCs) is met. This, according to the CEO of the Chamber, Senyo Hosi, is important as the quantum of US…
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Societe Generale Ghana launches new ‘boafo loan product’ assist MSMEs
In its quest to help address some major challenges that hinder the growth of small and medium-scale enterprises, SMEs, in the country, in terms of access to capital, Societe General Ghana has launched a tailor-made package for these businesses. The product known as the ‘Boafo Loan’ product is a short-term working capital loan package designed…
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Bank of Namibia Governor pays courtesy call on BoG Governor
A 4-member delegation, led by the Governor of the Bank of Namibia, Mr. Johaness !Gowaxab on Friday, 17th June 2022, paid a courtesy call on the Governor of the Bank of Ghana, Dr. Ernest Addison, to seek mutually-beneficial relationships between the two central banks and also to learn best practices from the Bank of Ghana.…
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DBG funds will not be used to buy gov’t securities – Deputy CEO assures
As stakeholders continue to lament the low level of lending to key sectors like Agriculture and manufacturing, the newly launched wholesale bank, the Development Bank Ghana is assuring that it will implement effective measures that will ensure their funds go to key sectors of the economy. Universal banks in the country, for some time now,…
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A law that will compel banks to lend to Agric sector players being considered – Min. of Agric
The Minister of Food and Agriculture has called out the banking sector for the poor level of support it has given to Ghana’s agriculture sector over the years. Despite the improvement in credit to the private sector in the past few months as economic activity picks up, the Agriculture sector in addition to Forestry and…
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Bank of Ghana receives Central Bank’s Fintech Policy of the Year 2022 Award
The Bank of Ghana has won the Central Banking’s FinTech Policy of the Year Award 2022 under the FinTech and RegTech Global Awards run by Central Banking. Central Banking Institute unveiled the winners of its fifth annual FinTech RegTech Global Awards on June 14, recognising the technological achievements of central banks, supervisors and commercial tech…
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DBG would help address market failures in Ghanaian credit markets – BoG
The Bank of Ghana has stated that the official commencement of full-scale operations of the newly launched Development Bank Ghana, DBG, would help address market failures in the Ghanaian credit markets. Speaking at the launch of the bank on Tuesday, 14th June 2022, Governor of the Bank of Ghana, Dr. Ernest Addison, noted that experiences…
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Access Bank opens agency at Accra Technical University
Access Bank has commissioned a new Agency Banking network at the Accra Technical University (ATU) in Accra. This is in line with the Bank’s vision of becoming the world’s most respected African Bank through strategic expansion and retail dominance. Through this expansion drive, Access Bank has brought banking operations close to the doorsteps of the…
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All hands must be on deck to bring Ghana’s economy back on track – BoG
With the world economy, including Ghana’s, dealing with the aftershocks of the COVID-19 pandemic and the challenges being posed by the ongoing Russia-Ukraine war, stakeholders in Ghana including the government, the Bank of Ghana, businesses as well as the media are being charged to actively and effectively play their roles to build confidence and facilitate…