Tag: Ghana Business News
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Average interest on agric loans is 33.2 percent – BoG report
Average interest rate on agricultural loans by banks has increased marginally to 33.2 percent as at the end of February this year, the Bank of Ghana’s Annual Percentage Rate and Average Interest report has shown. The report also shows that First Atlantic Bank offers the highest agric loans at 41.2 percent. But Standard Chartered Bank…
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Consumers threaten boycott over unsatisfactory banking services
Reviewing the high-interest rates on loans, improving ATM services as well as reducing the turnaround time at banking halls have emerged as some key concerns for customers of banks. They believe banks should be able to attract more clients and maintain existing ones in the wake of increased competition in the industry. Following the World…
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ACEP urges upward review of allocation to stabilisation fund
The Africa Center for Energy Policy (ACEP) wants the government to revise the hundred million dollars allocation to the stabilization fund. ACEP argues that the allocation is inadequate and must be reviewed upwards. The fund which was capped at a hundred million dollars by the erstwhile government was however not captured in the 2017 budget.…
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OMCs yet to reduce prices as Goil’s prices drop by 1%
It appears most of the Oil Marketing Companies (OMCs) have not reduced the prices of their petroleum products for the first pricing window in March. This is contrary to predictions that fuel prices will be reduced for the period. The Institute for Energy Security (IES), early this week, indicated that prices for petroleum products are…
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![Banks with top three highest mortgage loans [Infographic]](https://citibusinessnews.com/wp-content/uploads/2016/07/HOUSES-1.jpg)
Banks with top three highest mortgage loans [Infographic]
The latest Annual Percentage Rate (APR) and Average Interest (AI) report by the Bank of Ghana has shown that GCB Bank offers the highest interest on mortgages as at the end of February. Potential home buyers would be charged as much as 40.3 percent on loans they contract from the bank. Meanwhile Bank of Baroda…
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Average interest on mortgages is 33.6 percent – BoG report
The average interest rate for home loans among commercial banks is 33.6 percent. The figure which is according to the Bank of Ghana’s Annual Percentage and Average Interest report, indicates a marginal increase compared to the 33.3 percent recorded as at the end of January 2017. According to the report, GCB Bank offers the highest…
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Inflation drops again to 13.2% in February
Inflation for the month of February dropped to 13.2 percent. It represents a monthly change rate of 0.1 percent compared to the 13.3 percent recorded in January this year. According to the Ghana Statistical Service, the food and non-alcoholic beverages recorded an inflation of 7.1 percent while the non food category recorded an inflation of…
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Fuel prices to drop in second pricing window in March
The Institute for Energy Security (IES) is predicting at least a 3% fall in fuel prices for the second pricing window in March. The IES is basing the fall on the drop in prices of petroleum products on the world market. They also believe there has been a relative stability in the forex exchange market…
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Average interest on car loans hits 35%
The average interest on vehicle loans offered by commercial banks has reached 35 percent as at the end of February this year; the latest Annual Percentage Rate (APR) report by the Bank of Ghana has shown. This represents 2 percent increase compared to the 34.3% recorded as at the end of January 2017. The Annual…
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Tigo’s MD to head new entity under Airtel/Tigo merger
Citi Business News has gathered Tigo’s current MD, Ms. Roshi Motman is likely to be named as the MD of the new entity to be created following the merger of Airtel and Tigo. It is unclear yet which position the current MD of Airtel Ms. Lucy Quist will be occupying following the merger. The parent…