Category: Business
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‘Mobile money interoperability scored 3,000 transactions on first day’ – GHiPSS
The newly built mobile money interoperability platform had about 3,000 transactions the first day it was launched by the Vice President, Dr. Mahamudu Bawumia on May 10, 2018. This was disclosed by the Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems (GHiPSS), Archie Hesse, on the Citi Breakfast Show on Tuesday. “I am quite happy…
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FBN Bank urges savings habit with new promo
FBNBank Ghana has launched its second edition of its Save and Win Promo dubbed “FBNBank Save and Win”. The promo is aimed at creating value and opportunities to the bank’s existing and prospective customers. The promo is also targeted at deepening the clarion call to Ghanaians to develop a savings culture. Addressing the media, Chief…
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Barclays bank shareholders approve name change to ABSA
Shareholders of Barclays Africa Group Limited have approved that the bank changes its name to Absa Group. Today’s approval is expected to set in motion, the start of one of the largest re-brand projects in Africa. A statement from Barclays Bank to Citi Business News on the matter said that the name change is expected…
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$4.5m BoG loan funded mobile money interoperability – GHIPSS
The Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems (GHIPSS), Archie Hesse has disclosed that the company took a loan of 4.5 million dollars from the Bank of Ghana to implement the mobile money interoperability project. According to him, the BoG gave the funds to the GHIPSS with the expectation that the…
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Finance Ministry to publish $2bn Eurobond investors
A Deputy Minister for Finance, Charles Adu Boahen has assured that it will make public the list of investors who participated in Ghana’s recent $2 billion Eurobond. Some financial observers have always called on the government to publish the list of investors who buy sovereign debt from Ghana to protect the interest of the state in…
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We’ll meet capital requirement–Access Bank assures shareholders
Access Bank (Ghana) Plc. has held its 10th Annual General Meeting (AGM) to consider and adopt the Statement of Accounts for the year ended December 31, 2017 in Accra. The AGM, which is the second of the Bank after it successfully listed on the Ghana Stock Exchange in 2016 as the first Ghanaian Bank of…
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Hedge oil revenue to protect Ghana from rising oil prices – Senyo Hosi
The Chamber of Bulk Oil Distributors (CBOD) wants the government to introduce new mechanisms to protect the country from the gradual rise in crude oil prices. The Chamber is impressing on the government to among others initiate processes that will stabilize oil revenue. The Chamber argues that this is necessary as Ghana is a net…
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Stop tagging me with corruption—Former Dep. BoG Governor fumes
A Former Second Deputy Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama is accusing some politicians for attacking his personality in the role he played during a contract the Bank of Ghana awarded to Sibtons Switch to undertake a Mobile Money Interoperability project. The project which was aborted after the New Patriotic Party…
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Mortgage sector upbeat about $1bn investment
Players in the mortgage industry have described the government’s decision to support the industry with a billion dollars as a step in the right direction. The players are confident the action will help address the housing deficit while revamping the sector. The Finance Minister, Ken Ofori Atta earlier disclosed to Citi Business News Ghana’s maiden thirty year…
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PaySwitch to the rescue with lower payment solutions
Payment solutions company, PaySwitch, has disclosed that it is committed to improving payment systems in the country in line with the government’s cashless agenda. PaySwitch says it is achieving this aim by supporting local providers with tailor made solutions to compete with others across the sub-region. The company also explains that its operations are geared at…