Second Deputy Governor of the Bank of Ghana (BoG), Mrs Elsie Addo Awadzi has said the central bank is concerned about the relatively high lending rates that banks continue to charge. To this end, she said, “we expect banks to significantly increase credit to the private sector, and to reasonable and affordable interest rates.” Mrs Addo Awadzie noted that Ghana’s banking sector remains...
Although the Ghanaian local currency – the cedi – is confronted with heightened risk, Databank, the assets management company, has maintained its year-end forecast for the interbank Bank of Ghana (BoG) reference rate at GH¢6.05/USD (± 10Pesewas). Currently, the imminent depreciation risks emanate from threats of a taper-induced selloff which heightened since the third quarter of 2021, as well as...
The ARB Apex Bank Limited, which serves as a “mini” central bank for Rural & Community Banks (RCBs) says it is working with the relevant authorities to ensure that the National Identification Card is accepted at Rural Banks across the country as a valid form of identification. For some time now universal banks in the country have been engaging the...
The ARB Apex Bank has commenced a programme to introduce mobile banking to all its customers to enable them to enjoy the freedom of banking from the convenience of their phones wherever they may be. The initiative is to help member banks compete favourably with the major telecommunication companies and Financial Technology (FINTECH) firms in the provision of mobile money...
The Managing Director of GCB Bank, Mr. Kofi Adomakoh, has called for a paradigm-shift within the financial sector to create long-term value for businesses without sacrificing environmental needs. He made this appeal at the Business Conference organised by Stanford Seed Transformation Network, Ghana. Speaking as a guest at the event held at Marriot Hotel, Accra, on Thursday, October 21, 2021,...
Ghana’s banking sector remains one of the most attractive on the continent for investors, the Bank of Ghana (BoG) has said. According to the BoG, the presence of Pan-African Banks like First Bank-Nigeria and international banks in the country are testimonies to that. The Second Deputy Governor of the BoG Ms. Elsie Addo Awadzi said this at the 25th-anniversary gala dinner...
Second Deputy Governor of the Bank of Ghana (BoG), Mrs Elsie Addo Awadzi has said Ghana’s banking sector remains one of the most attractive on the continent for investors. She said the presence of pan-African banks like First Bank Nigeria and international banks here is testimony to that. She noted the sector sector is stable, profitable, and resilient, supported by an enabling macroeconomic...
Delivering his address at the FBNBank@25 Gala Dinner held in commemoration of the 25th-anniversary celebrations of FBNBank Ghana, Dr Adeduntan indicated that “banking has remained a game-changer for West Africa since the 1890s when it was introduced into the sub-region”. He said that “Through the introduction of banking, we have enjoyed benefits like the monetisation of our economies, improved trade,...
…sees moderate growth prospects in financial, OMC and FMCG sectors The primary equity benchmark, the Ghana Stock Exchange’s Composite Index (GSE-CI), is expected to close the year at around the 2,817 points mark, reflecting a year-end return of 45%, according to figures contained in research published by indigenous investment bank, Databank, in its outlook for the final quarter of the...
The Chief Executive of the Ghana Interbank Payment and Settlement System (GhIPSS), a subsidiary of the Bank of Ghana, Mr. Archie Hesse, has called for increased education and active usage of available cashless payment solutions to help reduce the number of robbery attacks on persons carrying huge sums of cash. There has been an uptick in the number of armed...
