Category: Banking And Finance
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![Mortgages in Ghana – The myths and the facts [Article]](https://citibusinessnews.com/wp-content/uploads/2020/07/1-7.jpg)
Mortgages in Ghana – The myths and the facts [Article]
If you are renting now, buying a home could be a better financial decision. Of course, that depends on several factors such as; where you live, how much you pay now as rent, an available fit-for-purpose house you can afford, current mortgage interest rates and your aspirations. Taking your first steps towards home ownership –…
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ADB customers can now self-register for the bank’s USSD service
Customers of Agricultural Development Bank (ADB) can now seamlessly self-register for the Bank’s *767# USSD service without visiting any branch of the Bank. This service allows customers to link their mobile money wallet to their bank accounts, check account balance, view mini statements, transfer Funds (account to wallet, wallet to account, inter-bank transfers, intra-bank transfers),…
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BoG’s Monetary Policy Committee begins 3-Day meeting today to assess economy
The Monetary Policy Committee of the Bank of Ghana is scheduled to begin it’s regular meetings from Wednesday through to Friday, July, 24. The 95th meeting of the MPC is to review developments in the economy and take certain critical decisions. The meeting will also come out with the Monetary Policy Rate which is of…
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Ecobank Ghana stops seizure of assets over GHS10M debt
Officials of Ecobank Ghana at its Head Office in Accra, on Tuesday, July 21, stopped the attempted seizure of the bank’s assets by police officers and bailiffs who were there to enforce a High Court order over a debt the bank owes a private entity. Some police officers came to the premises of Ecobank HQ…
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BoG likely to reduce or maintain policy rate to protect businesses – Lord Mensah
Economist, Dr. Lord Mensah, says he does not foresee an increase in the policy rate anytime soon. According to him, the Central Bank is likely to either maintain or reduce it further to cushion businesses as they are already struggling due to the impact of the Covid-19. The Policy rate determines the rate at which…
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Stanbic Bank Ghana launches new digital banking product ‘Safe and On Top’
Stanbic Ghana has launched its new product, ‘Safe and On Top’, a digital campaign aimed at enhancing customers’ experience by simplifying banking processes. As part of the new system, customers can now use the bank’s 120 ATMs not only to withdraw cash up to 10,000 cedis, but also deposit money into any Stanbic Account and…
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Databank holds its first virtual Annual General Meeting for its mutual funds
Databank Group, Ghana’s leading investment bank, held the 2019 Annual General Meetings for its mutual funds via Zoom on Tuesday July 14 and Wednesday July 15, 2020. The meetings on Tuesday July 14, and Wednesday July15 2020, which were organised for the first time virtually in adherence to government’s restrictions on large public gatherings, proved…
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Ecobank Group named Africa’s best bank for Corporate Responsibility
Ecobank, the leading pan-African banking group, has won the coveted prize of Africa’s Best Bank for Corporate Responsibility in the Euromoney Awards for Excellence 2020. Euromoney recognises Ecobank’s focus on sustainability and partnerships and its core capabilities in delivering positive social and environmental outcomes across Africa. In a statement, Chief Operating Officer of the Ecobank Foundation,…
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Finance Minister to present Mid-year budget review on July 23
The Finance Minister, Ken Ofori-Atta, is scheduled to present the mid-year budget review to parliament on Thursday 23rd July, 2020. This is in accordance with Section 28 of the Public Financial Management Act, 2016 (Act 921). According to Citi Business News sources, the presentation of the statement on the review of government projections for the…
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We need a policy to protect our activities – Ass. of Savings and Loans Companies to Gov’t
The Ghana Association of Savings and Loans Companies is urging government to come out with a policy that will protect its members in times of difficulties. According to the Association, even though the Bank of Ghana regulates the financial sector, best practices in some African countries show that savings and loans companies are better protected…