Category: Banking And Finance
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Zenith Bank supports COVID-19 Fund with one million cedis
Zenith Bank Ghana Limited has donated One Million Ghana Cedis (GH¢1,000,000) to the COVID-19 Fund established by the government of Ghana to complement the fight against the coronavirus pandemic, and to assist in the welfare of the needy and the vulnerable in society. Officials of the bank presented the amount at the Ministry of Information…
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‘Bank of Ghana can print money to aid COVID-19 fight’ – Economist suggests
As Ghana considers various options to raise funds to finance its fight against the COVID-19 pandemic, some analysts say all possibilities can be considered including financing by the Bank of Ghana if the country’s economy can support it. The International Monetary Fund, IMF, as part of measures to prevent a high budget deficit placed a…
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BoG offers $25 million to forex dealers in April auction
The Bank of Ghana in its latest auction of forex, accepted $25 million in bids. This represents 31.74% of the total amount of $78.75 million that forex dealers bid for. In a report published by the central bank in controlling the supply of dollars, the BoG said a total of 108 bids were submitted in the…
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CBG to announce modalities for cash and bond payments to depositors of defunct S&Ls, Microfinance firms
Consolidated Bank Ghana, CBG, has announced to the general public that it will publish the full modalities for payment of cash and bonds on behalf of the Receiver for all depositors of defunct microfinance and savings and loans companies. According to the bank, it has established a mechanism for those depositors who wish to obtain…
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DalexSwift investment clients to enjoy zero percent interest for 3 months
As part of measures to mitigate the economic impact of the novel Coronavirus (COVID-19) pandemic on individuals and businesses in the country, Dalex Finance, is offering loans to all its DalexSwift investment clients at a zero percent interest rate for the next three months. The bank’s offer comes after the Bank of Ghana in a…
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Gov’t to raise GH¢17.96bn in bonds from domestic market for second quarter
Government is seeking to raise a total of 17.96 billion cedis in bonds, from the domestic market for the period spanning April to June, 2020. This is about 6% less than the 19.09 billion cedis targeted for the first quarter of 2020, from January to March. Per the issuance calendar published by the Bank of…
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Banks cut interest rate by 200 basis points to mitigate impact of COVID-19
The Ghana Association of Bankers has announced a cut in its benchmark interest rate by 200 basis points to mitigate the economic impact of COVID-19 on businesses and individuals. In a statement, the Association also announced a three billion cedis support package by way of loans to players in Ghana’s pharmaceutical industry. The 200 basis…
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COVID-19: Banks to support pharmaceutical firms with GHS3bn loan package
The Ghana Association of Bankers has announced a GHS3 billion specialized loan package to support pharmaceutical companies operating in the country, as the coronavirus pandemic takes a toll on businesses. According to the Association, the pharmaceutical sector is a critical component in the fight against COVID-19, hence the need to assist the sector. The Association…
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ADB to support agribusinesses and farmers to mitigate COVID-19 impact
The Managing Director of ADB, Dr. John Kofi Mensah, has announced that the bank will by the end of this week announce a support package for agribusinesses and farmers in the country due to the impact of the COVID-19 pandemic. He says players in the agriculture sector are a critical component of the bank’s operations,…
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Absa Ghana donates GHS1m towards Ghana’s COVID-19 fight
Absa Bank Ghana has donated an amount of GHS1 million to Ghana’s COVID-19 Fund to help in the fight against the spread of the coronavirus in the country. The donation, which is in response to President Akufo-Addo’s announcement of the creation of a COVID-19 Fund is towards the procurement of test kits and Personal Protective…