Monthly Archives - June 2022
30Jun

NIC poised to strengthen insurance education – Dr Justice Ofori

The National Insurance Commission (NIC) in partnership with the Ghana Insurers Association (GIA) and supported by Graphic Communications, have launched the maiden edition of the Insurance Fair. The Insurance Fair, which is expected to be an annual event where insurance companies will get the opportunity to showcase insurance products and services to the public, is in furtherance of the industry’s celebration of ‘Insurance Awareness Month.’ Speaking at...

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30Jun

Remittances could increase by 16% as global economic activities rebound—Zeepay MD

The Managing Director of Zeepay, Andrew Takyi-Appiah is predicting a 16 percent growth in remittances following a rebound in economic activities on the global market. According to him, more Ghanaians in the diaspora are getting new jobs as most countries begin to expand their economic activities after the COVID-19 pandemic. Figures from the Bank of Ghana show that Ghana received remittances...

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30Jun

Government collaborates with insurance, pension regulators to develop annuity, syndicate markets

Government is strongly collaborating with regulators in the insurance and pensions industry to develop annuity and syndicate markets. According to the Head of Pensions and Insurance Unit at the Ministry of Finance, Benjamin Torsah-Klu, this will stimulate long term investments of pension and insurance funds. Speaking on behalf of the Finance Minister, Ken Ofori-Atta at the 6th African Actuarial Congress ongoing...

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30Jun

Development Bank set to offer long term financing to SMEs

With guaranteed operational independence, clear cut vision and a strong balance sheet amounting to 750 million dollars, the Development Bank Ghana (DBG) is set to offer long term long financing to Small and Medium Scale Enterprises (SMEs) operating in the country. With guaranteed operational independence, clear cut vision and a strong balance sheet amounting to 750 million dollars, the Development...

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30Jun

Victims of ponzi schemes are mostly security personnel – BoG

The Bank of Ghana has offered financial literacy training to personnel of the Ghana Immigration Service in the Ashanti region. The training is aimed at empowering the security personnel with knowledge in managing their finances and to make the right financial decisions. The workshop is part of the Bank of Ghana’s annual activities to educate the public on financial management. The training covered critical areas including, identification...

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17Jun

Recent global shocks require Central Banks in Africa to coordinate monetary policy measures—Addison

The Governor of the Bank of Ghana (BoG) Dr. Ernest Addison has emphasised the need for Central Banks in Sub-Saharan Africa to coordinate monetary policy measures, aimed to help stabilise prices on the African continent. According to him, the impact of recent geopolitical tensions and the COVID-19 pandemic on developing countries underscore the need for increased harmonisation of monetary policy...

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17Jun

Bank of Ghana oversees GH₵7.9 million refund, compensation payments

The Bank of Ghana (BOG) has by the end of the year 2021 secured monetary compensations and refunds totalling about GH₵7.9 million for complainants. Regulated Financial Institutions (RFI) paid complainants whose complaints were lodged, investigated, and found justifiable based on the BoG market conduct rules for its regulated entities. A breakdown of the total amount, which was captured in the annual...

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17Jun

Don’t hide from your debtor banks – BoG advises borrowers

Don’t hide from your debtor banks - BoG advises borrowers THE Bank of Ghana (BoG) has advised the general public, especially borrowers, not to hide from their financial institutions because they owe them. It said hiding from their obligations undermined the cardinal principle of banking, which was trust. The Head of the Conduct Supervision Unit of the central bank, Augustine Donkor, said...

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17Jun

Recapitalization positioned banks to weather the pandemic storms – Addison

Governor of the Bank of Ghana (BoG), Dr Ernest Addison has said the decision to clean-up the financial sector prior to the pandemic, together with the COVID-19 relief measures introduced by the central bank in the wake of the pandemic, positioned banks to weather the storms associated with the pandemic and sustain lending to support economic activity. Some nine local banks,...

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17Jun

Introduction of GhanaPay complements measures to accelerate Ghana’s migration to electronic payments – Governor

The Governor of the Bank of Ghana, Dr. Ernest Addison, says, the introduction of GhanaPay complements the measures to accelerate Ghana’s migration to electronic payments. He is therefore encouraging the banking sector to collaborate and further explore more pioneering ways to attain greater efficiency in the payments ecosystem. Speaking at the launch of a new payment platform that will complement mobile...

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