Category: Banking And Finance
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BoG likely to maintain policy rate to protect businesses – Alhassan Andani
Ahead of the commencement of the 96th regular meeting of the Monetary Policy Committee of the Bank of Ghana today, September 22, 2020, the President of the Ghana Association of Bankers, Alhassan Andani says he does not foresee an increase in the policy rate anytime soon. The policy rate determines the rate at which the…
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Monetary Policy Committee to begin 3-day meeting to assess economy today
The Monetary Policy Committee of the Bank of Ghana is scheduled to begin its regular meetings from today, Tuesday, September 22, 2020, through to Friday, 25th September 2020. The 96th meeting of the Monetary Policy Committee is to review developments in the economy and take the necessary steps to ensure financial and economic stability. A…
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Ex-staff of defunct MFIs and S&Ls to be paid after outstanding issues are resolved – Receiver
The Receiver of the 347 defunct Microfinance companies, 23 Savings and Loans and Finance Houses, Eric Nana Nipah says money to pay ex-staff is available, but payment can only be done when issues raised by the ex-staff and their representatives are resolved. He made the comments on Citi TV‘s Current Affairs program The Point of…
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Asset base of defunct microfinance firms, others was short by GHS4 billion – Receiver
The Receiver of the 347 defunct microfinance companies, 23 savings and loans and finance houses, faced a GHS4 billion shortfall in the asset base of defunct companies it hoped to recover. Speaking on Citi TV‘s The Point of View, Eric Nana Nipah explained that the firms cumulatively said they had an asset base of about…
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Cedi’s stability backed by Ghana’s diverse export base, other factors – Economist
Economist with DataBank, Courage Kingsley Martey is confident the Ghana Cedi will remain stable when compared to its peers on the African continent for the rest of the year, even against the backdrop of the unfolding coronavirus pandemic. Out of some 15 key currencies on the continent evaluated by Databank, the Cedi remained relatively stable…
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Customers of defunct Microfinance firms, S&Ls to receive full cash payment from September 16
Depositors of the collapsed Microfinance companies, Savings and Loans and Finance Houses will from Wednesday, September 16, 2020, have full access to their funds. It follows the government’s resolution of the original commercial paper, also known as bond. The government on Tuesday released a total of GHS3.56 billion to settle the remaining depositor claims of…
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GHS3.56 billion cash released to settle remaining customers of collapsed Microfinance firms, others
Government has released GHS3.56 billion in cash to fully settle depositor claims of 347 defunct Microfinance companies, 23 Savings and Loans firms and Finance Houses that were being settled with bonds. The money will be ready for the depositors from Wednesday, September 16, 2020, according to a statement from the Receiver of these defunct firms.…
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DKM customers will be paid by end of September – Akufo-Addo
President Akufo-Addo has promised to pay all customers of Diamond Microfinance Limited (DKM) in full by the end of September 2020. Speaking at a gathering of chiefs and people of Wenchi in the Bono Region as part of his presidential tour, the President stated that everyone who was owed money by the microfinance company will…
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Registrar General to release payment plan for clients of 20 FMCs this week
The Registrar General, Jemimah Oware, says she will divulge the exact details of governments’ bailout package in virtual meetings with creditors who qualify as investors of the defunct 20 fund management companies under official liquidation, on the 15th and 16th of September. Customers of the 20 companies have been incessantly calling for details on the…
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Fact-check: Dr. Bawumia’s 15 million mobile money users claim, others checked
The Vice President of Ghana, Dr Mahamudu Bawumia on Wednesday, August 19, 2020, while addressing the New Patriotic Party’s (NPP) third town hall meeting and results fair in Accra, made a number of claims regarding mobile money interoperability and the gains made with its introduction. Among other things, Dr Bawumia said Ghana has become the…