Governor of the Bank of Ghana (BoG) Dr Ernest Addison has said that recent economic indicators show a steady turnaround. First, he said, the impact of the pandemic pushed inflation outside the medium-term target band to 11.4 percent in July 2020. Since then, inflation has fallen steadily and stayed around the central path of the target band of 8 percent. More recently,...
The Chartered Institute of Marketing, Ghana (CIMG), has released its maiden Customer Satisfaction Index (CSI) report, with 11 banks being rated 5-star for their service quality. Out of the 11 banks, only three of them were local banks. Ten other banks also earned 4-star status. With service quality as the main tool used for establishing the CIMG-CSI, the accepted cut-off point...
Stanbic Bank maintained its position as the bank with the biggest investments on the Ghana Stock Exchange Fixed Income Market in the month of October 2021, despite its controlling stake reducing by almost 2% to 20.66%. Though it traded more volumes than Standard Chartered Bank, GCB Bank kept its 3rd position with a share of 11.86%, whilst Standard Chartered Bank...
The Bank of Ghana says inflation will remain within the medium-term target band (8%+\-2), barring any unforeseen shocks. This is coming after the World Bank projected that Ghana’s inflation rate will end this year at 9.8% and gradually decrease to 6.8% in 2023. However, the rate of inflation for September 2021 surged to 10.6%, as a result of increase in the...
With a rise of a tech-savvy generation, the Deputy Managing Director of the Ghana Stock Exchange (GSE), Abena Amoah, has assured investors of additional digital trading platforms that will allow easy access to the stock market by the end of this year. In an interview with B&FT ahead of the Ghana Economic Forum (GEF), dubbed ‘Strengthening Homegrown Policies to Underpin...
The Bank of Ghana has cautioned the general public against participating in a fraudulent promotion said to be on the bank’s 64th anniversary. According to a notice from the central bank, it has observed the fake promotion on social media, hence the disclaimer. The bank however says it is not running a 64th-anniversary promotion of any kind. The central bank also advised the...
The Bank of Ghana is cautioning the general public against the patronage of a money-doubling scheme operating in Ghana under the pseudo name “Worldremit”. According to the Central Bank, “this fraudulent scheme is distinct from the globally renowned Fintech, “WorldRemit” which is in the business of international fund transfers”. The central bank explained that the fraudulent “scheme encourages customers to select preferred...
The ARB Apex Bank Limited, which serves as a “mini” central bank for Rural & Community Banks (RCBs) says its members are taking the necessary steps to ensure that the movement of money to and from rural and community banks is done safely. Following the bullion van attack at Adedenkpo-Jamestown in June this year, the Bank of Ghana and the...
The Chartered Institute of Marketing Ghana has released a ground breaking research driven survey report on customer satisfaction in Ghana’s banking sector The report, which was unveiled officially at the Coconut Grove Hotel in Accra a fortnight ago, is the first ever survey of customer satisfaction in a services industry in Ghana. It is not surprising that CIMG has tackled...
Nana Kobina Nketsia IV, Omanhene of Essikado Traditional Area in the Western Region, has charged the Securities & Exchange Commission (SEC) to take steps to curb the proliferation of Ponzi schemes in the market. According to him, such schemes have lured many people into bad investments and caused them untold hardships and in many instances death. Speaking at a regional education campaign organised...
