Category: Banking And Finance
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Bank crisis: Your deposits are safe – UniCredit assures customers
The management of uniCredit has called on its customers to remain calm and ignore rumours that the firm is facing challenges following the consolidation of its sister company – uniBank- with others into the Consolidated Bank of Ghana (CBG). The BoG merged uniBank, Sovereign bank, Beige bank, Royal bank and Construction bank under the new…
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Consolidated bank assesses skills of staff
Current employees of the Consolidated Bank Ghana Limited are to undergo assessment tests scheduled for September 15th and 16th, 2018. This follows the completion of application processes for all the workers of the bank. A memo to all staff and sighted by Citi Business News also stated that the tests will be carried out in…
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Inflation for August increases 9.9 percent
Inflation for the month August has increased to 9.9 percent from the 9.6 percent recorded in July. This represents 0. 3 percentage point increase. Inflation measures the rate of change in the general price level of goods and services over a period of time. There is more details in this report. Speaking at press briefing,…
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Menzgold’s woes won’t have huge impact on financial sector – Economist
The closure of parts of the operations of gold trading company, Menzgold, won’t significantly impact Ghana’s financial sector. Economist, Professor Godfred Bokpin, explained that the development is as a result of investors’ risk which regulators cannot be entirely blamed for. The SEC has ordered the immediate suspension of the gold deposit-taking business of Menzgold. A…
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Labour unions, KPMG determine exit pay for Consolidated bank staff
The Ministry of Employment and Labour relations together with the Bank of Ghana, the receiver for the Consolidated bank as well as representatives of labour unions have met over the issues affecting the staff of the Consolidated bank. This is also to reduce any apprehension among the remaining staff. Present at the meeting were officials…
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Customers of uniCredit angry over locked up cash
Customers of Unicredit Savings and Loans are livid over their inability to withdraw their matured investments from the company. Scores of customers on Tuesday [September 11, 2018] besieged the premises of the Kantamanto branch of the company to demand their money after several failed attempts to retrieve their investments. Some reports have suggested that the…
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Banking consultant supports enactment of Financial Stability Act
A banking consultant, Dr. Richmond Atuahene has backed calls for the enactment of a financial stability sector act to enhance collaboration among regulators in the financial space. The calls for the crafting of such a law followed the three day probe by Parliament’s Finance Committee into the banking sector crisis, which unearthed the lack of collaboration…
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‘Be grateful to NPP; cedi depreciation rate better than NDC’s’ – Gideon Boako
Gideon Boako, Spokesperson for the Vice President, has said the New Patriotic Party (NPP) government should be commended for improving on the rate of the cedi’s depreciation, although Ghc5.00 is almost equal to one dollar. The economist, who was speaking on Citi TV’s Point of View, said the rate of the cedi’s depreciation is much…
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Cedi to hit 5 to a dollar as external pressures soar – Analyst
Some currency analysts are projecting that the cedi will continue its losing streak against major trading currencies until external factors influencing its performance, subsidise. The local currency has been depreciating against the dollar particularly for some time now with some analysts it will hit the 5 cedis mark soon. As at close of business on…
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Republic Bank MD leads trade mission to the Caribbean
The Managing Director of Republic Bank Ghana Limited, Mr. Anthony Jordan will lead a Ghanaian business delegation to the Caribbean for the 3rd Republic Bank Trade Facilitation Summit. The Trade Facilitation Summit will commence on Monday, 10th September to Tuesday, 11th September, 2018 at the Ports of Spain, Trinidad and Tobago. The mission from Ghana…