Category: Banking And Finance

Shareholders of embattled unibank have sued the Bank of Ghana for cutting short its moves to acquire shares of adb. According to the plaintiff the decision taken by the Bank of Ghana was “arbitrary, capricious and inconsistent”. The shareholders are Belstar Capital Limited and Starmount Development Company Limited. The suit follows assertions made by the…

Government is preparing to withdraw the new Ameri Deal. The move is to enable government make some changes to the agreement before it will be put before parliament again. This is expected to happen after parliament returns from recess. The minority group in parliament yesterday described the new Ameri deal as bad and asked government…

The 2017 Europe, Middle East, Africa (EMEA) Finance Achievement Awards has awarded Ghana’s ESLA Bond Transaction as the best restructuring deal last year. ESLA Plc is the institution established for purposes of raising money to clear the outstanding energy sector debts. The ESLA Bond transaction, is part of nine transactions across EMEA that was recognized…

Access Bank Ghana has met the new minimum capital requirement set by the Bank of Ghana (BOG) ahead of the stipulated deadline in December. This makes Access Bank the first among Banks requiring to raise the new capital of GHS 400million set by the Central Bank. The announcement comes after the Bank completed its Rights…

An economist and the Policy Director at the Trades Unions Congress (TUC), Dr. Kwabena Nyarko Otoo, does not want the issues of criminality to be glossed over in the assessment of the recent collapses of five local banks. Three of the five banks consolidated under Consolidated Bank Ghana Limited by the Bank of Ghana; Sovereign Bank,…

The Bank of Ghana on Wednesday August 1, 2018, announced that it has consolidated five domestic banks into what it calls the Consolidated Bank Ghana Limited. The five banks are uniBank, Royal Bank, Sovereign Bank, Beige Bank and the Construction Bank. Below are the Chief Executive Officers and Managing Directors of the five banks that…

The Bank of Ghana(BoG) has hinted that the government will be provide financial support to other indigenous banks as needed, to help them meet the minimum capital requirement of GH¢400 million by 31st December 2018. The government, however indicated that such support will be limited to indigenous banks that are solvent, well governed and managed,…

The Bank of Ghana has revealed that shareholders of Unibank took  GH¢5.3 billion from the bank without going through the proper procedures. This constituted a 75 percent of total assets of the bank. According to the central bank, Shareholders, related and connected parties had taken amounts totaling GH¢3.7 billion which were neither granted through the…

It has emerged that shareholders of uniBank used monies from the bank to acquire estate properties in their own names. According to the central bank “uniBank’s shareholders and related parties admitted to acquiring several real estate properties in their own names using the funds they took from the bank under questionable circumstances”. The governor of…