Category: Banking And Finance
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![Provide small cocoa processors with sustained financial support – Banks urged [Video]](https://citibusinessnews.com/wp-content/uploads/2021/01/Cocoa-CocoaBeans-Chocolate-Africa-VA.jpg)
Provide small cocoa processors with sustained financial support – Banks urged [Video]
Banks in the country have been charged to increase and sustain the levels of credit offered to small and medium scale cocoa processors to enable them drive the value addition agenda in the cocoa sector. Currently, major processors of cocoa in the country, who ultimately export about 70 percent of their produce are found in…
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![FBNBank increasing access to affordable financial inclusion with agent banking [Article]](https://citibusinessnews.com/wp-content/uploads/2021/01/fbnbank-agent.jpg)
FBNBank increasing access to affordable financial inclusion with agent banking [Article]
Financial institutions in Africa seek to create innovative value propositions and customer-friendly products and services, not only to generate client enrolments but also to bring populations into the financial mainstream for greater socio-economic good. Financial Inclusion remains a challenge in Sub Saharan Africa. Building payment and banking networks using the traditional brick-and-mortar approach is a…
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Lending rates won’t go down any time soon – Economist
An Economist with Databank, Courage Martey, is concerned that lending rates in the short term, will not see a reduction, even though multiple business groups such as the Ghana Union of Traders Association (GUTA) have been calling for a reduction in the cost of credit to enable them to be competitive in the sub-region. Latest…
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GIPC begins probe into activities of Chy Century Heng Yue Group
The Ghana Investment Promotion Centre, GIPC, has begun investigations into activities of Chinese companies, Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited. This follows claims by Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited that they have registered with the Ghana Investment Promotion Center, hence their activities are legal.…
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AfCFTA: GUTA calls for access to cheaper credit to be competitive
The Ghana Union of Traders Association (GUTA) says it will require access to cheaper credit to be able to take full advantage of the African Continental Free Trade Area (AfCFTA) agreement. According to the Ghana Union of Traders Association, the commencement of the AfCFTA means it would now have to compete with businesses from other…
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Don’t invest in Chy Century Heng Yue, Sairui E-Commerce – SEC cautions
The Securities and Exchange Commission, SEC, the statutory body mandated to promote the orderly growth and development of the securities market in Ghana is cautioning the general public against dealing with Chy Century Heng Yue Group Limited and Sairui E-commerce Ghana Limited. A statement from the SEC noted that Chy Century Heng Yue Group Limited…
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BoG Governor demands measures to help businesses succeed in AfCFTA era
Governor of the Bank of Ghana Dr. Ernest Addison says the commencement of operations of the Africa Continental Free Trade Area (AfCFTA) requires the building of a competitive Ghanaian economy. According to the Governor, the effects of a strong Ghanaian economy will ensure that local businesses win against their rivals from other African countries. Responding…
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Ghana Stock Exchange returns -13.98 % in 2020, lowest in over half a decade
After returning losses to investors for the first three quarters of 2020, the Ghana Stock Exchange returned a gain of 5.2 % for equity investors in the fourth quarter, a development which should continue in 2021 and lead to the first positive return in a year for the local bourse since 2017. That’s according to…
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Forward auction likely to stabilise cedi in first quarter of 2021 – Economist
The use of forward auctions on the interbank foreign exchange market in the country will be key in keeping the cedi stable within the first quarter of the year. This is according to economist with Databank, Courage Martey. The cedi has over the years experienced some depreciation from the last quarter of a year through…
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BoG Governor confident of cedi’s stability in 2021 after 3.8% depreciation in 2020
Governor of the Bank of Ghana, Dr. Ernest Addison is confident the reserves it has amassed so far, coupled with other measures to be implemented by the government in 2021 should see the local currency remaining stable throughout this year. The cedi which depreciated by 3.8 percent against the dollar in 2020, outperformed many of…