Tag: BoG
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GHL Bank starts operations in 2017 4th quarter – CEO
Ghana Home Loans has disclosed to Citi Business News it will start its banking services in the last quarter of 2017. To be known as GHL Bank, the entity is expected to intensify competition in the granting of mortgage loans. This is also expected to help bridge the housing deficit currently estimated at 1.7 million.…
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Banks to be repaid from $ 2.4bn energy bond by end of August
Banks that are exposed to the energy sector debt should be receiving their due from the proceeds of the bond by the middle of this month [August]. It will follow the issuance of the 15 year energy bond to clear the 2.4 billion dollar debt, barring any last minute changes. According to the Managing Director of…
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DKM saga: BA minister meets Official Liquidator
The Brong Ahafo regional minister, Kweku Asomah Kyeremeh is expected to meet the Official Liquidator for DKM Microfinance which is the Registrar General’s Department within the next two weeks on the progress of payments for affected victims. The meeting which is at the behest of Mr. Asomah Kyeremeh will also afford him the opportunity to…
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Ghana EximBank Board inaugurated
The Deputy Finance Minister, Kweku Kwarteng has charged the Ghana Exim Bank to pursue pragmatic policies and programs to increase Ghana’s export revenue and improve the Balance of Trade (BoT). The Exim Bank is among others expected to support local producers with the necessary financial and technical expertise to position them to compete favourably with their foreign…
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First Deputy Governor of BoG retires
The First Deputy Governor of the Bank of Ghana (BoG) Mr. Milison Narh has retired. A statement from the central bank stated that Mr. Millison Narh paid a courtesy call on the President Nana Addo Dankwa Akufo Addo this afternoon – 31st July, 2017 to announce his retirement. Present at that meeting were the Vice…
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Gov’t hasn’t increased Ghana’s debts – Yaw Osafo Maafo
Senior Minister, Yaw Osafo Maafo has justified government’s issue of bonds to restructure the country’s debts. The NPP government’s bonds issue have been viewed by some as repeating the very concerns the party raised during the campaign season in 2016. The running mate at the time, Dr. Mahamudu Bawumia criticized the NDC for increasing the…
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No supplementary budget risky for 2017 budget – Economist
Some Economists want the Finance Minister, Ken Ofori Atta, to give detailed plans of increasing revenue even as he presents a midyear budget review to Parliament today. It comes on the back of a decision by the Ministry not to seek a supplementary budget. For Economist, Dr. Said Boakye, the government’s inability to meet the…
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Midyear budget review comes off Monday
The Finance Minister, Ken Ofori Atta is expected to present his midyear budget review and economic planning to Parliament tomorrow, July 31, 2017. This is in fulfilment of the constitutional mandate requiring the Minister to give an account of the performance of the economy before the commencement of the second half of the year. Citi…
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Reducing interest rates: Economist hopeful of banks’ response
Some economists are predicting that commercial banks across the country will soon reduce their interest rates. Figures from the Bank of Ghana (BoG) show that the 91 day Treasury bill is at 12.5 percent while that of 182 days is at 12.9 percent. Following the decline, there have been concerns over why interest rates on…
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Ghana’s trade surplus hits 1.4 billion dollars – BoG
New figures from the Bank of Ghana have shown that Ghana’s total balance of trade recorded a surplus of 1.429 billion dollars as at June this year. This is equivalent to 3.1 percent of GDP. The surplus is an improvement over the 1.4 billion dollars deficit recorded in the same period last year. This has…