Insurance companies have been urged to rely on research to develop policies that meet the needs of customers. Such policies could motivate the public to patronise insurance packages and help usher in a regime of increased insurance coverage for the growth of the economy. An insurance expert, Emmanuel Baba Mahama, made the call when he was speaking at a Graphic...
Fidelity Bank Ghana Limited has been named the Most Safety and Security Conscious Company of the Year; Best Company in Data Security Management and Best Company in Fire Safety and Security Management at the 2022 Health, Environment, Safety & Security (HESS) Awards held recently in Accra. The Managing Director of Fidelity Bank Ghana, Julian Opuni, emerged winner of the HESS Exemplary...
A 4-member delegation, led by the Governor of the Bank of Namibia, MrJohannes Gowaxab, has paid a courtesy call on the Governor of the Bank of Ghana (BoG) Dr Ernest Addison, to seek mutually-beneficial relationships between the two central banks and also to learn best practices from BoG. The Governor of the Bank of Namibia, MrJohanessGowaxab, eulogised Governor Addison for...
The Bank of Ghana (BoG) and the Cyber Security Authority (CSA) met on Tuesday, 21st June 2022 at the BoG Head Office in Accra, to discuss collaborative ways to improve cybersecurity in the banking sector and to discuss various ways of collaborating to implement the Cybersecurity Act, 2020 (Act 1038). The discussions were led by the First Deputy Governor of...
As a consequence of the rapid shift toward more technologically-inclined financial services delivery, as well as a similar move in consumer behaviour, digital and soft skills have emerged as the most in-demand areas of competence banks are seeking. “We have seen an uptick in demand for programmes focusing on digitalisation, technology as well as soft skills,” underscored Principal of the...
The National Insurance Commission is embarking on measures to significantly reduce undercutting and ensure fair treatment of customers. This is coming after it warned insurance companies to refrain from undercutting since it is impeding the growth of the industry. Already, public confidence of insurance is very low Speaking at the opening of the Weija Branch of Imperial General Insurance, Head of Core...
The newly launched wholesale bank, the Development Bank Ghana, has assured that it will implement effective measures to ensure it funds are used to support key sectors of the economy. Universal banks in the country, for some time now, have been accused of using a chunk of their funds to invest in less risky government securities instead of giving such...
The Producer Price Inflation rate for May 2022 hit 33.5%, the Ghana Statistical Service has announced. This rate represents a 2.1 percentage point increase in producer inflation relative to the rate recorded in April 2022 (31.4%). The month-on-month change in the producer price index between May 2022 and May 2022 was 3.6 percent. According to figures from the GSS, the PPI...
Since the introduction of mobile money (MOMO) loans by telecommunication companies (telecos), some of their customers have taken undue advantage of the opportunity. While some have taken the loans to either start or recapitalize their businesses, others have accessed the funds and misused it, hence their inability to pay. To prevent the telcos from tracking them, they have stopped using their...
Amid rising interest rates on the money market, Chief Executive Officer of Letshego Ghana, Arnold Parker, has revealed that interest rates on Qwikloans will increase in the coming weeks. Qwikloan, an innovative financial solution by Letshego Ghana and MTN Mobile Money (MoMo), provides short-term, unsecured, quick and convenient loans to subscribers of MTN mobile money – which are currently at...
