Category: Banking And Finance
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COVID-19: Bank of Africa to leverage on global presence and tech to serve customers
Executive Head Corporate and Enterprise Banking at Bank of Africa (BoA), Mr. William Boateng, has noted that the outbreak of the coronavirus pandemic is changing the dynamics of banking across the globe. He explained that the pandemic is ushering the banking system into a new era where bank and customers heavily rely on technology to…
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Benchmarking prices of goods and services against the exchange rate illegal – BoG Governor
The Governor of the Bank of Ghana, BoG, Dr. Ernest Addison, has reiterated that it is illegal to price goods and services in foreign currencies such as the U.S dollar. Despite the existence of the law, the practice exists in many facets of the Ghanaian economy as some businesses have even adopted new ways by…
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Banking sector clean-up: We’re partnering with state agencies on prosecutions- BoG Governor
The Governor of the Bank of Ghana, Dr. Ernest Addison, has expressed some reservations about the processes being used in the prosecution of officials found culpable in the banking sector crisis. He however says although the banking sector regulator has no control over the judicial processes, it is collaborating with the relevant state agencies to…
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Receiver to publish names of debtors to collapsed Microfinance Companies
Mr. Eric Nana Nipah, the Receiver of the collapsed 347 defunct Microfinance Companies and 23 Savings and Loans and Finance House Companies, is urging individuals, groups and institutions who took loan facilities from the microfinance firms to repay the loans immediately. According to him, he will soon publish the first list of recalcitrant defaulters and…
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GN License Case: Court dismisses BoG’s appeal, orders them to justify revocation
The Court of Appeal on Monday, June 22, 2020, dismissed an appeal by the Bank of Ghana, which challenged the jurisdiction of the High Court in hearing the suit filed by GN Savings and Loans over the revocation of its license. BoG had argued that the High Court has no jurisdiction to hear the complaint…
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BoG clean up responsible for banks’ resilience to COVID-19 shocks – Consultant
A banking consultant, Nana Otuo Acheampong has said the financial sector cleanup carried out by the Bank of Ghana, is responsible for the resilience of banks amidst the COVID-19 pandemic. A new report by the Bank of Ghana has established that even though banks have been resilient to shocks amidst the COVID-19 pandemic, the same…
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UNIPASS rakes in GHS490m in 17 days – GRA
The Ghana Revenue Authority, GRA, has reassured freight forwarders that technical challenges that have disrupted the Integrated Customs Management, ICUMS, will be addressed by the end of June. The ICUMS, also known as UNIPASS, was rolled out on June 1, to take over the single window platform from GCNet and West Blue Consult at the…
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Stock Exchange expels Liberty Securities & First Atlantic Brokerage Ltd from membership
The Ghana Stock Exchange has expelled Liberty Securities Limited and First Atlantic Brokerage Limited from the membership of the Exchange. According to the GSE, its decision to expel the membership of Liberty Securities Limited and First Atlantic Brokerage Limited is in view of their violation of some market rules. Per the decision, the two entities…
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UniBank collapse: Charges against Duffuor and others amended from 68 to 71
The State has amended its charges against the Founder of defunct Unibank, Dr. Kwabena Duffuor and some former executives over their alleged roles in the bank’s collapse. The one-time Central Bank Governor and Finance Minister, is standing trial with a former Deputy Governor of the Bank of Ghana, Johnson Asiama, and other former executives for…
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Capital Bank collapse: Ato Essien gets another chance to renegotiate payment plan
The Commercial Division of the High Court in Accra has given Founder of defunct Capital Bank, Ato Essien, another chance to negotiate with the State on charges brought against him for his alleged involvement in the collapse of the Bank. Ato Essien and three other former top executives of the collapsed entity; Fitzgerald Odonkor, Tetteh…