Category: Banking And Finance
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Citi TV, IIGh to hold forum on financing for development on Thursday
Impact Investing Ghana (IIGh) in partnership with Citi TV will on Thursday, June 17, 2021, hold the first-ever public Dialogue Series on Financing for Development. The forum, dubbed “What is the Role of the Development Bank in Ghana’s Economic Transformation?” will also seek to address some niggling questions on the minds of Ghanaians such as;…
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We’ll comply with directive on use of fortified bullion vans – Association of Bankers
The Ghana Association of Bankers, GAB, says it is saddened by Monday’s bullion van robbery incident at James town in Accra that led to the death of a police officer and a trader. In the wake of the incident, the IGP has served notice that the Police Service will withdraw escort services to sub-standard bullion…
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Absa Bank offers collateral-free loans to credible MSMEs – Grace Anim-Yeboah
In a bid to see Micro Small and Medium Enterprises (MSMEs) thrive, ABSA Bank Ghana has been offering loans as high as GHS 500,000 to start-ups without taking any form of collateral. The Director of Business Banking at Absa Bank Ghana, Grace Anim-Yeboah, disclosed this on the on-air series of the Citi Business Festival on…
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Government to introduce programme for taxing informal sector soon – John Kumah
A Deputy Minister-designate for the Ministry of Finance, John Kumah has hinted of the implementation of a new program to ensure Ghana’s thriving informal sector is efficiently taxed. While taking his turn before Parliament’s Appointments Committee, Mr. Kumah noted that the initiative tagged as the Revenue Assurance Compliance and Enforcement (RACE) program will in addition…
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Retrieve our locked-up funds – Customers of TTL Capital to SEC
Over twenty-four thousand investors of the First Fund Investors Association have issued a two- week ultimatum to new fund managers, TTL Capital, to pay their locked-up funds of about GHS170 million or face their wrath. According to them, they have not been paid for the past 2 years. Addressing the media during a press conference,…
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PPP takes on BoG Governor over remarks on suit against Dr. Nduom
The Progressive People’s Party (PPP), has taken on the Governor of the Bank of Ghana, Dr. Ernest Addison over some comments he made on the back of a lawsuit brought against the Chief Executive Officer of Groupe Nduom, Dr. Papa Kwesi Nduom by an equity fund and securities investment company based in the United States,…
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#CitiBusinessFestival: Training on entrepreneurship should begin from SHS – Yofi Grant
The Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, believes one of the ways to raise more entrepreneurs within the Micro Small and Medium Enterprises (MSMEs) sector is for the government to empower the youth through skills training right from Senior High School. Speaking on the on-air series of the…
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Reduce domestic borrowing, to curb banks’ appetite for securities – Government urged
Government has been urged to reduce its demand for funds from the domestic market to help reduce the overreliance of banks on government securities. According to the Governor of the Bank of Ghana, Dr. Ernest Addison, in addition to government’s actions, factors such as the habitual non-payment of loans taken and the slow nature of…
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Ignore conflict of interest claims against Ofori-Atta, Adu Boahen – Finance Ministry
The Ministry of Finance has described as inaccurate and misleading, information circulating in the media, which accuses the Minister of Finance, Ken Ofori-Atta and Minister of State at the Finance Ministry, Charles Adu Boahen of being caught in a conflict of interest situation. The two are accused of having two non-bank financial institutions associated with…
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Sub-20% interest rates needed for businesses to be competitive – GUTA
President of the Ghana Union of Traders Association (GUTA), Dr. Joseph Obeng says until interest rates on loans drop below the 20 percent mark, the recent reduction in the monetary policy rate will not make much difference. The Monetary Policy Committee (MPC) of the Bank of Ghana, for the first time since March 2020, reduced…