The Bank of Ghana has abolished some unfair fees and charges among other practices in the banking sector, in an effort to protect the public. In a notice, the central bank highlighted that maintenance fees on savings accounts charged by financial institutions are prohibited. “Always look out for debits on your account and report any suspicious or unapproved charges/debits to your...
Governor of the Bank of Ghana (BoG) Dr. Ernest Addison has charged banks, and by extension other financial services providers, to consolidate the regulator’s efforts at strengthening the digital finance ecosystem by adopting a proactive posture toward improved security of their channels. This, he suggested, will accrue to the benefit of all stakeholders, seeing the rapid and consistent shift in...
Managing Partner at Koranteng & Koranteng Legal Advisors, Afua Adubea Koranteng, is confident that constant communication and more collaboration between central banks and other regulatory bodies on the continent will better position them to harness benefits of the Pan African Payment and Settlement System (PAPSS) – the cross-border, financial market infrastructure enabling payment transactions across Africa. According to her, as...
Republic Bank Ghana PLC, has appointed Benjamin Dzoboku as the new Managing Director of the bank. He is succeeding Farid Antar, who retires from the bank. The Bank of Ghana granted approval to Mr. Dzoboku’s appointment on 10th May 2022. Mr. Antar retires from the bank on 15th July 2022 after over 42 years of exceptional service to the Republic Financial Holdings...
The Managing Director of GCB Bank PLC, Kofi Adomakoh, says the focus of the Bank is driving revenue. He said having laid a strong foundation and tightening risks, the Bank is well-positioned to return value for investors. Speaking at an investors’ call last Friday, Mr Adomakoh disclosed that credit underwriting standards have been tightened. The engagement with investors of the Bank was...
The Securities and Exchange Commission (SEC) has informed all capital market operators and the investor community that following the commencement of the implementation of the Electronic Transfer Levy (E-Levy) Act 2022 (Act 1075) on 1 May 2022, by the Ghana Revenue Authority (GRA), the Commission “is currently working with the Ministry of Finance (MoF) regarding the potential exemption of...
…promises even less-demanding listing requirements Managers of the Ghana Stock Exchange (GSE) have reiterated that the equity market for small and medium enterprises (SMEs), the Ghana Alternative Market (GAX), remains a viable option for raising growth capital at a lower cost. Since its establishment in 2013, six companies have been listed on the GAX – which targets SMEs by providing far...
Mobile money interoperability (MMI) has increased the total cumulative value of mobile transactions in Ghana to GHC978 billion at the end of last year from GHC78 billion in 2017, Vice-President, Dr Mahamudu Bawumia, has said. Speaking at the 2022 Annual National Internal Audit and Governance Conference, organised by the Institute of Internal Auditors (IIA), the vice-president also noted that Ghana is the first...
Fidelity Bank Ghana has announced the appointment of Atta Yeboah Gyan as its Deputy Managing Director in charge of Operations and Support functions. Atta Gyan is a hands-on executive and ascends to this new role with a wealth of experience in several aspects of banking, including Finance, Corporate Strategy, Risk Management, Operations, Audit and Control, and Regulatory Compliance. He has played...
