Category: Business

As President Nana Akufo-Addo prepares to set up a committee to look into a petition presented by the Association of Indigenous Banks to extend the deadline of the minimum capital requirement, members of the Association are accusing present and past governments of deliberately stifling the growth of local banks. They argue that governments have consistently…

Ken Ofori-Atta on Friday told Japanese businesses that the current stable macro and political environment is an opportune time for them to launch into the West African region using Ghana as the hub. “We are now combining politically stable environment with fiscal consolidation and macro stability and we would like, therefore, to get our traditional…

Fiscal consolidations embarked upon by government seem to have yielded some results as provisional figures recorded by the Ghana Statistical Service show that the country saw the highest GDP growth rate in the last five years. According to the figures, the GDP growth rate more than doubled in 2017 from 3.7 % in 2016 to…

Finance Minister, Ken Ofori-Atta has stated that prospects for Ghana issuing a possible Samurai bond in the medium term looked good, judging from the interaction and reception, accorded the Delegation on the Non-deal investor road show to Tokyo. Speaking to selected international journalists in Tokyo at the end of the road show, he explained that…

Some customers of ASN Financial Services Limited whose monies remain locked up with the company, are threatening to embark on a demonstration at the end of this month. This follows their inability to retrieve their investments since the beginning of last year. ASN Financial Services Limited, in a letter to its customers last year, promised…

In what can be described as a phenomenal step in stimulating responsible business practices, Access Bank Ghana has again demonstrated its leadership by committing to issuing a sustainability report following the world-acclaimed Global Reporting Initiative (GRI) Sustainability Reporting Standards. When fully implemented, Access Bank will become one of the first banks in Ghana to adopt…

Senior Minister, Yaw Osafo Maafo, and Minister for Trade and Industry, Alan John  Kyerematen have thrown their weight behind the Association of Indigenous Banks to seek an extension of the deadline date for the minimum capital requirement for banks. The Bank of Ghana has set 31st December 2018 for all banks to meet a 400…

It appears moves by the Association of Indigenous Banks to get President Akufo-Addo to extend the deadline date for the 400 million cedis capital requirement for banks may face serious hurdles as the move is opposed by Vice President Dr. Mahamudu Bawumia and Governor of the Bank of Ghana, Dr. Ernest Addison. The association, made…