Tag: Banking
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Ecobank Ghana PLC records 40.3% revenue growth in 2022
ECOBANK Ghana PLC has despite the shocks of the Domestic Debt Exchange Programme and the general decline of the Ghanaian economy, the bank managed to increase its total revenue for 2022 by 40.3% to 2.97 billion GHC. Ecobank Ghana PLC explains that this growth was driven by mainly increases in net interest income, as well…
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Mobile money disrupted banking in Ghana – Zeepay CEO
Founder and Chief Executive Officer of Zeepay, Andrew Takyi-Appiah, says the introduction of mobile money disrupted banking in Ghana and other parts of Africa. He indicated that mobile money broke the “curse” of Ghanaians’ inability to walk into a bank to transfer money to another bank “over the counter”. The CEO of Zeepay observed that…
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Banks to cut back lending to energy sector
Banks are expected to tighten their lending to the energy sector soon. It will follow the repayment of the accumulated energy debt to the affected banks. Currently, bids are being accepted for the first tranche of the bond to raise 6 billion cedis. This is expected to close by Friday, October 27, 2017. But Economist…
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Bankers upbeat about Nana Addo’s private sector dev’t agenda
Players in the banking industry are upbeat about a turnaround in the sector with the assumption of office by President Nana Akufo-Addo. It also follows a reaffirmation by the President to develop the private sector and propel economic growth. According to banking Consultant, Nana Otuo Acheampong, the elimination or reduction of some taxes on the…