Ghana’s foreign reserves have improved significantly and are sufficient to cover more than five months of prospective imports, the Bank of Ghana (BoG), has indicated. The country’s foreign reserves as of August 2021, stood at $11.4 billion. Foreign reserves are funds central banks exchange with each other at an international level and the reserves can either be in gold or in...
Governor of the Bank of Ghana, Dr. Ernest Addison has called for a multidimensional integrated solutions approach to tackle the inherent frictions in cross-border payments in Africa. According to the World Economic Forum, payments which have always been the lifeblood of trade will be key for intra-African trade, which covers 55 countries with varying financial and monetary systems, especially with...
Governor of the Bank of Ghana (BoG), Dr Ernest Addison has said digitisation of bank accounts has enabled customers to conduct financial services through online platforms in a seamless manner without stepping foot in the banking hall. The positive aspect of these, he said, is the broad acceptability of these technology driven financial services due to its convenience, efficiency and affordability. Governor...
The importance of good corporate governance in building strong institutions, communities, and economies, and helping to avoid the collapse of businesses cannot be overemphasized, Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has said. “From time immemorial, corporate failures had had their roots in poor corporate governance,” Dr Addison stated this. In a speech read on his behalf by...
