Category: Banking And Finance
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Validation still ongoing to pay Fund Management customers – SEC
The Securities and Exchange Commission (SEC) says it hopes to, in the near future, begin payment of outstanding validated claims of clients of some of the 53 fund management companies who got their licenses revoked in November 2019. The 53 fund management companies that have lost their licenses were said to be managing a customer…
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#CitiBusinessFestival: Businesses urged to gain understanding of E-commerce regulations
Panelists at this year’s Citi Business Festival’s Virtual Forum on E-Commerce on Citi TV, have urged entrepreneurs, SMEs and large cooperate institutions to be mindful of the regulatory framework that regulates the e-commerce space. According to them, E-Commerce is a key element that drives the sale of physical products online, or any commercial transaction that…
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SEC to restore licenses of some ‘collapsed’ Fund Management Companies soon
The Securities and Exchange Commission (SEC) has said it will in the coming days restore the licenses of some fund management companies whose licenses were revoked in 2019. This was disclosed by the Chief Executive Officer of the Securities and Exchange Commission, Rev. Daniel Ogbamey Tetteh on Tuesday 9th June, 2020 on the Citi Breakfast…
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Banks defy BoG’s directives on customer complaints, data protection – Survey reveals
A market survey by the Bank of Ghana (BoG) has shown that some banks are breaching its Consumer Recourse Mechanism Guidelines for Financial Service Providers. As a result, it has vowed to enforce all legal tools available to ensure compliance by the financial institutions. Among the key findings were the inadequate time given loan defaulters…
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#CitiBizFestival: Stay relevant with digitization amid COVID-19 – Absa Dir. to employees
Business Banking Director at Absa Bank, Grace Anim-Yeboah, has stressed the need for employees to harness the power of digitization in order to stay relevant amid the COVID-19 pandemic . According to her, digital tools are critical for surviving a crisis conversation. “It is key to surviving and thriving as the pandemic continues to disrupt…
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COVID-19: CalBank donates PPE to four major hospitals in Ghana
The Board of Directors, Management and Staff of CalBank, have donated a set of Personal Protective Equipment (PPE), valued at GHS 230,000.00 to four hospitals in Ghana. The beneficiary hospitals are the University of Ghana Medical Centre in the Greater Accra Region, the Komfo Anokye Teaching Hospital in the Ashanti Region, the Effia Nkwanta Regional…
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Economist cautions gov’t to avoid overspending due to COVID-19
Economist, Dr. Lord Mensah, has advised government to be measured in its expenditure for the 2019/2020 financial year particularly amidst the coronavirus pandemic. His advice comes on the back of a government request for 10 billion cedis financial support from the Bank of Ghana to mitigate the economic impact of COVID-19. The Finance Minister, Ken…
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Access Bank embraces new normal with virtual AGM for shareholders
In keeping with regulations for listed companies on the Ghana Stock Exchange (GSE) amidst the restrictions on public gathering due to COVID-19, Access Bank Ghana has led the way by holding its 12th Annual General Meeting (AGM) through a virtual platform for its shareholders. The virtual AGM was held to consider and adopt the statement…
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Terkper challenges Ghana’s debt figures published by BoG
Former Finance Minister, Seth Terkper, says Ghana’s total debt stock published by the Bank of Ghana does not reflect the true debt of the country. Mr. Terkper argues that Ghana’s debt to GDP is currently 63 percent and not the 59.3 percent published by the central bank. The Bank of Ghana in its Summary of…
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Money laundering breaches: Ghana can meet FATF’s deadline – Kwaku Duah
The Head of the Financial Intelligence Centre, Kwaku Duah, believes Ghana is in the position to correct and address all deficiencies that puts the country on the money laundering radar. The European Commission on 7th May 2020 cited Ghana as one of four African countries listed by the European Union for money laundering breaches. The…