Category: Banking And Finance
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Stakeholders call for effective corporate governance structures to develop organizations
The institution of strong corporate governance structures has been highlighted as one of the many critical things that need to be in place to ensure the success and longevity of Ghana’s banking industry and other industries and businesses. According to these stakeholders, the recent default of banks, subsequent financial sector reforms, and collapse of many…
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GREDA asks for tax rebates to build 20,000 housing units a year
The Ghana Real Estate Developers’ Association (GREDA), has called on the government to grant tax rebates to its members to enable them build enough affordable housing units in the country. President Nana Addo Dankwa Akufo-Addo back in April 2019, charged GREDA to develop a proposal to build 20,000 housing units a year to help deal…
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Elsie Addo Awadzi reappointed Second Deputy BoG Governor
The President, Nana Addo Dankwa Akufo-Addo has reappointed Second Deputy Governor of Bank of Ghana, Mrs. Elsie Addo Awadzi, for a second term with effective 14th February 2022. Mrs. Addo Awadzi has over 25 years of professional experience working in various capacities in Ghana and internationally in law, finance, policy and regulatory reforms, financial sector…
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Economist predicts inflation driven hike in Ghana’s monetary policy rate.
Economist and lecturer at the University of Ghana Business School (UGBS), Dr. Patrick Opoku Asuming is confident the Bank of Ghana will soon increase its Monetary Policy Rate above the current 14.5%. This, according to him, is due to the rising inflation in the country and developments on the global scene especially the likelihood of…
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‘We are not going to the IMF’ – Ofori-Atta insists amid push for E-levy
Finance Minister, Ken Ofori-Atta, says Ghana will not seek a bailout from the International Monetary Fund, IMF, despite the current economic challenges. Mr. Ofori-Atta says government will consider home-grown solutions to deal with the difficulties because the country has what it takes to turn its ailing economy around. Speaking at the third in a series of town…
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Government rejects Moody’s downgrade of Ghana’s credit rating
The government is unhappy with credit rating agency, Moody’s, for downgrading Ghana’s Long-Term Issuer and Senior unsecured bond ratings to Caa1 from B3. According to government, it believes that the recent fiscal consolidation measures announced by the Finance Minister and the 2022 budget, which are anchored on debt sustainability and a positive primary balance, largely…
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AZA Finance assures of increased collaborations with Fintech companies to ensure growth under AfCFTA
AZA Finance has assured of increased collaborations and support for companies within Ghana’s financial and fintech ecosystem to grow and take full advantage of the Africa Continental Free Trade Agreement (AfCFTA). This comes on the back of the recently launched Pan-African Payments and Settlement System – a revolutionary Financial Market Infrastructure to enable instant, cross-border…
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![Government urged not to interfere in DBG’s operations [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2022/01/Kwamina-Bentsi-Enchill-Duker-.jpg)
Government urged not to interfere in DBG’s operations [ARTICLE]
A new report by policy think tank International Perspective for Policy and Governance (IPPG) has urged the Akufo-Addo led government not to interfere in the credit decisions and operations of the newly established Development Bank of Ghana (DBG). According to IPPG, the NPP government must create and preserve DBG’s dignity as an apolitical institution to…
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Banks likely to give more loans if Ghana card policy takes effect – Bankers Assoc.
The Ghana Association of Bankers, says it is confident banks will be willing to give out more loans after the Ghana Card becomes the only card accepted for all financial transactions. The Bank of Ghana has directed all licensed and regulated financial institutions under the central bank, to accept only the Ghana Card for transactions…
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Rate of increase in value of MoMo transactions dipped in 2021
The value of mobile money transactions in Ghana witnessed a significant dip in its rate of increase in 2021 when compared to the rate of increase in 2020. This is according to data from the Bank of Ghana. Whereas the value of mobile money transactions increased by over 100% from December 2019 to December 2020,…