Category: Banking And Finance
-
Prof. Eric Osei Assibey, Angela Kyerematen-Jimoh join new BoG Board
President Akufo-Addo has sworn in Senior Lecturer at the Department of Economics of the University of Ghana, Professor Eric Osei Assibey and Executive Director/Regional Head for IBM North, East and West Africa, Angela Kyerematen-Jimoh, as new members of the reconstituted Governing Board of the Bank of Ghana (BoG). The swearing-in ceremony was held at the…
-
Access Bank posts strong performance for 2021 first half
Access Bank has recorded a strong growth in its financial performance for the first half of the year, with a 16% and 12% growth in its net interest income and profit before tax respectively. This was revealed at its annual “Facts behind the Figures” virtual session, held recently. “Facts behind the Figures”, an event organized…
-
Quality Control Company Board tasked to improve quality of cocoa beans
The Minister for Food and Agriculture, Dr. Owusu Afriyie Akoto, has charged the newly inaugurated five-member board of the Quality Control Company Limited of the Ghana Cocoa Board to gear up their efforts in improving the quality of Ghana’s cocoa beans. Cocoa from Ghana continues to enjoy a premium place on the World’s Commodity markets…
-
Pay our locked-up cash within one month – Customers of defunct GCFM
The Coalition of aggrieved customers of Gold Coast Fund Management has issued a one-month ultimatum to government to pay their locked-up funds or face their wrath. According to them, government has unjustifiably delayed their payment after their funds were locked up three years ago. Addressing the media in Accra, the spokesperson of the group, Charles…
-
Kwadwo Baoateng Genfi re-appointed as Board Chairman of EXIM Bank
The President, Nana Addo Dankwa Akufo-Addo, has re-appointed Kwadwo Boateng Genfi as the Board Chair of the Ghana Export-Import (EXIM) board. Kwadwo Boateng Genfi is an experienced Global Business Executive with comprehensive knowledge of leading-edge solutions and best practices in Financial Management, Trade, Asset Management and Working Capital Finance. He has an excellent understanding of…
-
ADB’s profit after tax in 2020 up by 400% despite impact of COVID-19
Despite the ravaging impact of the COVID-19 pandemic on the financial sector, Ghana’s sole agriculture bank, the Agricultural Development Bank (ADB) has recorded a 400 percent increase in profit after tax for the year 2020. GHS65.5 million was declared for 2020 as against GHS14.9 million recorded in 2019. This was announced by the former Board…
-
Digital payments: Stakeholders call for collaboration among industry players
The Bank of Ghana has urged private players in the digital payments industry to collaborate with each other in order to further boost the penetration of electronic payments in the country. Despite mobile money service’s significant contributions to Ghana’s financial inclusion drive, cash transactions still remain a dominant base of the local economy. Speaking at…
-
BoG partners Giesecke+Devrient to pilot digital currency in Ghana
The Bank of Ghana has join forces with Giesecke+Devrient (G+D) to pilot a general-purpose Central Bank Digital Currency (retail CBDC) in Ghana. G+D is providing the technology and developing the solution adapted to Ghana’s requirements, which will be tested in a trial phase with banks, payment service providers, merchants, consumers and other relevant stakeholders. To…
-
Provide financial institutions with accurate data – Banking Consultant tells Ghanaians
Ghanaians have been cautioned against providing inaccurate personal data to financial institutions and other institutions participating in the Credit Reporting System (CRS). The advice comes on the back of the expansion of the list of companies that can participate in Ghana’s Credit Reporting System. The Credit Reporting System (CRS) is a database established under Act…
-
Bank of Ghana revises mergers and acquisitions directive
The Bank of Ghana still reserves the sole right to approve any merger, acquisition or transfer of shares and stakes in any regulated financial institution. This is according to the new directives on Mergers and Acquisitions issued by the Central Bank. Under the new set of directives, the Bank of Ghana draws heavily on its…