Category: Banking And Finance
-
Cedi to enjoy continuous stability in Q1 2020 – Analyst
The Head of Trading at Absa Ghana, Jacob Brobbey, says the local currency will continue its strong performance against the dollar at least for the first quarter of the year. So far, the local currency, according to the Bank, has appreciated about four percent in value against the dollar since the start of the year.…
-
World Bank cautions Ghana over rising public debt
The World Bank has cautioned Ghana against piling its external debt and exceeding the sustainability threshold. According to the bank, Ghana is currently rated as a moderate to high-risk debt distressed country and so must tread cautiously. The government last week raised US$3 billion on the Eurobond market. The transaction was hailed as a success…
-
Receiver accrues GHS2.6 million from 1st auction of seized cars
The Receiver for the collapsed microfinance and Savings Loans companies, has raked in about 2.6 million cedis from the auction sale of the first batch of confiscated vehicles owned by the defunct companies. The 5-day exercise is part of efforts to recoup monies to pay affected depositors. A variety of salon cars were put up…
-
Credit Suisse boss Tidjane Thiam quits after spying scandal
Credit Suisse chief executive Tidjane Thiam has resigned amid a power struggle which followed a spying scandal at the bank. He is stepping down after five years at the Swiss bank just months after it emerged that two former employees had been placed under surveillance. Mr Thiam said he did not know the spying was…
-
Winners of FBNBank Ghana save and win promo receive prizes
FBNBank Ghana Limited, a subsidiary of First Bank of Nigeria Limited has presented prizes to winners of the 2019 Save & Win promo. The prize presentation afforded the bank an opportunity to make good on its promise of recognizing and rewarding the bank’s customers that participated in the culture of saving by participating in the…
-
uniBank’s collapse: Lawyers for Duffuor and son dispute charges
The lawyers for Dr. Kwabena Duffuor and his son, Kwabena Duffuor Jnr, have denied charges filed against them following the collapse of uniBank. Dr. Duffuor, founder of UniBank, his son Duffuor Jnr., who was Chief Operating Officer and subsequently Chief Executive of the Bank, a former Second Deputy Governor of the Bank of Ghana, Johnson…
-
New US$3 billion Eurobond will not balloon public debt – Ofori-Atta
The Finance Minister, Ken Ofori-Atta, has given the assurance that the country’s debt to GDP, which is the total value of all goods and services produced, would not escalate to alarming levels with the issuance of the latest Eurobond. Ghana’s debt to GDP is currently around 63 percent. Following Ghana’s eighth appearance on the Eurobond…
-
Amoabeng, two former BoG officials, 3 others charged over UT Bank’s collapse
The state has dragged a former deputy governor of the Bank of Ghana, Dr. Johnson Asiama and a former Head of Banking Supervision, Raymond Amanfu alongside the founder of UT Bank, Kofi Amoabeng to court over their actions surrounding the collapse of UT Bank. The other persons joined to the suit include Catherine Johnson, a…
-
Duffuor, Asiama, 7 others charged with 68 counts over Unibank’s collapse
A former Finance Minister and founder of defunct Unibank, Dr. Kwabena Duffuor, has been charged by the state with sixty-eight (68) counts of Fraudulent Breach of Trust, Money Laundering, Dishonestly Receiving and Falsification of Accounts. In a suit filed at the High court, Dr. Duffuor will be facing trial alongside a former Deputy Governor of…
-
State discontinues case against Kofi Amoabeng; new charges being prepared
The state has discontinued the case against the founder of now-defunct UT Bank, Prince Kofi Amoabeng at the Circuit Court. Kofi Amoabeng was facing charges of stealing and money laundering over his alleged role in the collapse of UT bank. According to the prosecution represented by ASP Emmanuel Nyamekye, they intend to file a fresh…