Category: Business
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adb gets 146.6 million cedis from shareholders
Adb bank has raised an additional 146.6 million cedis from shareholders to shore up the bank’s capital level. The move also follows the bank’s renounceable rights issue that it embarked on in March. Information available to Citi Business News also indicates that the shares will be available for trading on the local bourse from Friday,…
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Ghana must pass a law to compel multinational companies to list—analyst
Some Stock Analysts have called for a policy that will compel multinational institutions to list on the stock market. They believe their listing, coupled with the stability of the cedi and other sound economic policies will help retain a percentage of their profits in the country The suggestion comes at a time that Ghana’s stock…
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3,050 African youth to benefit from Tony Elumelu’s $100m entrepreneurship programme
The Tony Elumelu Foundation (TEF), the leading African philanthropy committed to empowering African entrepreneurs, on Friday announced that some 3,050 African entrepreneurs, drawn from all 54 African countries, have been selected to join the 5th cycle of its $100million TEF Entrepreneurship Programme. The announcement was made at the Transcorp Hilton Abuja, following a presentation of…
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GN Savings and Ecobank sign ‘mutually beneficial’ partnership
Ecobank Ghana and GN Savings have signed an agreement for the establishment of a partnership between the two financial institutions. The agreement was signed on Friday, 29th March 2019 at the offices of GN Savings. The agreement will see the two institutions work together in areas that will be mutually beneficial to both entities. The…
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Potential for growth in digital financial services huge, but regulator must do more – FinTechs
FinTechs in both the credit and pensions space have bemoaned the challenge of existing regulations governing some aspects of financial services transactions in the country. This, they believe is stifling growth within the sector and negatively impacting efforts being made to achieve financial inclusion. This was brought to the fore at a stakeholder forum co-hosted…
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Switch to gas to reduce cost of power in Ghana again – Ministry
The Ministry of Energy is anticipating a further drop in electricity tariffs as the country works to increase the use of gas by power generation plants. This it believes should bring respite to consumers. Following promises of relieving the burden on consumers of electricity, the government announced major tariff reduction for electricity in 2018. Domestic…
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Fintechs look to regulator to make digital pensions market more attractive
Chief Executive Officer (CEO) of IT Consortium Limited, Romeo Bugyei, has called for closer collaboration between government, regulatory bodies and FinTechs in Ghana to push informal pensions to citizens. He indicated that in order to achieve successful financial inclusion in the county, FinTechs must be supported to enable them efficiently deliver Digital Financial Services (DFS)…