Category: Economy
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Malicious messages about Rural Banks can hurt financial sector – Dep ARB Apex Bank MD
The Deputy Managing Director of ARB Apex Bank, Alex Awuah has cautioned individuals responsible for spreading false messages about the state of Rural and Community Banks in the country, to desist from their actions, since they can negatively affect that segment of the financial system. His comments follow a recent call by the Bank of…
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Commercial banks need to take advantage of ongoing reforms – Access Bank MD
Universal Banks in the country have been challenged to take advantage of the ongoing clean-up exercises in the non-bank financial sectors such as the Microfinance sector to extend their services to the micro level. According to the Managing Director of Access Bank Olumide Olatunji, the recent reforms by the Bank of Ghana can be viewed…
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Disregard messages on social media about Rural and Community Banks – BoG
The Bank of Ghana has called on the public to disregard some malicious messages circulating on social media platforms such as WhatsApp and Facebook. According to a press release from the Central Bank, the messages create the false impression that an intended “clean up” of Rural and Community Banks (RCBs) sub-sector by the Bank of…
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CitiBizFestival: First partnership outdoor event with GCIC, Ashesi University comes off today
The first outdoor partnership event which is part of the Citi Business Festival will take place this morning at the Marriot Hotel at the Airport City. The programme, which is dubbed the Incubating Innovation, is in partnership with the Ghana Climate Innovation Center(GCIC) and Ashesi University. The keynote theme of the programme is: “The Path…
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Bank of Ghana clears Barclays Bank over forex incident
The central bank has revealed that it reached an agreement with Barclays Bank, which was on Monday fined for breaching some forex trading conduct. Bank of Ghana earlier in the week fined the Barclays Bank GHC4.6 million for making “frivolous” quotes on Ghana’s Interbank Foreign Exchange Market. But a statement the banking regulator issued on…
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Mitigate impact of microfinance companies clean-up on informal sector — Dr. Lord Mensah
Senior lecturer of the Department of Finance at the University of Ghana Business School, Dr. Lord Mensah, has called on the Bank of Ghana to as a matter of urgency put in place measures to ensure the recent clean up of the microfinance does not put a strain on the informal sector. According to Financial…
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AngloGold Ashanti targets recruitment of over 2,000 workers for Obuasi mine
Mining giant, AngloGold Ashanti has revealed that it is planning to recruit about 2,500 workers following its resolve to resume full-scale operations at its Obuasi mine. The Managing Director of the company, Mr. Eric Asubonteng made this known at a Town Hall meeting organized by the mining giant with stakeholders in Obuasi. Mr. Eric Asubonteng…
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Policy holders with ESICH Life Assurance to access claims soon
Policy holders with ESICH Life Assurance should expect to receive part of their locked up claims in the next 2 to 3 months. That is according to the regulator for the insurance sector in Ghana, the National Insurance Commission (NIC). The NIC back in October 2018, moved in to get customers of ESICH Life Assurance…
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Gov’t can’t pay full principal and interest to Microfinance customers – Financial Economist
A Financial Economist Dr, Lord Mensah has expressed doubt about the ability of the receiver of the now defunct 347 microfinance companies, to be able to pay all the affected depositors their full principals in addition to their interests. The Bank of Ghana (BoG) had earlier indicated that it had secured about one GHC 1 billion to…
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Consult extensively to ensure Ghana benefits from AfCFTA – Dr. Graham
The Third World Network, a pan-African research and advocacy organisation has charged government to exhaust all avenues for consultation with key stakeholders in the economy, to ensure that Ghana does not lose out following the coming into force of the African Continental Free Trade Area agreement on May 30, 2019. Ghana’s Parliament in April 2018…