Category: Banking And Finance
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114th MPC meeting: Economic assessments begin amidst marginal inflation fall
The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has commenced its regular meetings to review developments in the economy. This is the 114th meeting of the Committee and is expected to decide on steps to ensure financial and economic stability. Dominating the MPC meeting will be the policy rate decision aimed at…
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BoG wins Alliance for Financial Inclusion Institutional Leadership award
The Bank of Ghana has won the Financial Inclusion Institutional Leadership Award 2023 of the Alliance for Financial Inclusion (AFI). The award, which was given at the just ended AFI 2023 Global Policy Forum (GPF) held in Manila, Philippines from 12th – 15th September 2023, and hosted by the central bank of the Philippines (Bangko…
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Pensioner bondholders reject new DDEP; petition Finance Ministry
The Pensioner Bond Holders Forum is resisting attempts by the government, to include them in the next round of the Domestic Debt Exchange Programme (DDEP). The group which was initially excluded from the debt restructuring earlier this year is demanding their removal from the government’s reopened DDEP. Addressing journalists in Accra on Monday, September 18,…
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BoG’s new headquarters befitting – Finance Minister
The Finance Minister, Ken Ofori-Atta, has called on all Ghanaians to rally and provide the Bank of Ghana with the needed support in the ongoing construction of its new head office. In an article titled “Citizens – Standing Strong with the Bank of Ghana,” Ofori-Atta urged the public to cease the uproar and opposition against…
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BOG moves to tackle climate risk financing
The Bank of Ghana (BOG) in its quest to strengthen the financial sector has taken steps aimed at mitigating the impact of climate risk in the books of financial institutions. “The issue of climate risk is increasingly becoming a material risk, especially for institutions exposed to vulnerable sectors of the economy” says Governor. Dr. Ernest…
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Secured loans in Q2 2023 surge to ¢5.9 billion, a 15.5% year-on-year increase
In the second quarter of 2023, the total value of secured loans granted and registered by banks and Specialized Deposit-Taking Institutions in Ghana reached an estimated ¢5.9 billion. This marked a substantial growth of 15.5% compared to the previous year. Meanwhile, Specialized Deposit-Taking Institutions reported a total of ¢971.1 million in secured loans, representing a…
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Bayport Savings and Loans re-enters capital market with Ghc50m bond issuance
In its quest to strengthen customer support, Bayport Savings and Loans PLC has resumed capital market activity with a Ghc50m bond issuance. This was revealed when the company took its turn at the Ghana Stock Exchange’s Facts Behind the Figures session on Wednesday, 6th September, 2023. This also comes on the back of Bayport Savings…
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Shareholders commend Access Bank’s first half performance
Shareholders have commended Access Bank Ghana for its strong return to profitability in the first half of the year, from the effects of the Domestic Debt Exchange Programme which had a toll on the entire banking sector last year. The commendation came during an interaction session held by the Ghana Stock Exchange for its listed…
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Oversubscription of govt treasury bills to continue over DDEP gains – Analyst predicts
Financial analyst, Courage Boti is predicting that government’s treasury bills will continue to be oversubscribed in the coming weeks. This, he attributes to gains made by the government in its debts restructuring exercise. The government has recorded an oversubscription of its treasury bill for two weeks in a row, with last week registering roughly 15.10…
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Locked up funds in other institutions affecting operations of micro finance, credit unions
The Swedru Teachers Co-Operative Credit Union is urging government to put up mechanisms to ensure that locked up funds in other financial institutions regulated by the securities and exchange commission are released. According to him some micro finance institutions and credit unions have their funds locked up in these financial institutions thus crippling their very…