The current global economic crisis presents banks the opportunity to innovate, accelerate and deepen their much needed transformation, Finance and Strategy Consultant, Professor Noel Tagoe, has said. He said while crisis destroyed bad companies, good companies survived them, and great companies were improved by them. At the 26th annual banking conference organised by the Chartered Institute of Banking Ghana (CIBG), he...
The First Deputy Governor of the Bank of Ghana (BoG), Dr. Maxwell Opoku-Afari, has been inducted as a Fellow into the prestigious Ghana Academy of Arts and Sciences (GAAS). The ceremony was held on Tuesday, 15th November 2022 at the Academy’s auditorium in Accra, with Vice President of the Republic, Dr. Mahamudu Bawumia, gracing the occasion. Dr. Opoku-Afari was inducted into Fellowship...
The Ghana Stock Exchange (GSE), in collaboration with the Securities and Exchange Commission (SEC), has launched new rules to guide the listing and trading of green and sustainable bonds on the market. Dubbed the Green and Sustainable Bond Rules, the launch of the new guidelines formed part of activities to mark the 32nd anniversary of the local bourse which is...
The Producer Price Inflation (PPI) rate for October 2022 inched up to 65.2%, a 19.3 percentage points increase relative to the rate recorded in September 2022 (45.9%). According to the Ghana Statistical Service, the month-on-month change in the PPI between September and October 2022 was 15.4%. Excluding the construction sector, the PPI increased to 75.6% in October 2022, from 54.5% in...
GH¢245m already deployed for on-lending by PFIsGH¢1bn underway in 6-months10 partnerships undertaken5 partner financial institutions Ensuring competitively priced medium-to-long-term financing to support the small and medium-sized enterprises (SME) sector, the Development Bank Ghana (DBG) is leveraging on its capacity and partner financial institutions (PFIs) to de-risk the SME sector, Chief Executive Officer (CEO) of the Bank, Kwamina Duker, has said. Prior...
The Bank of Ghana is currently in the process of reviewing the Cyber and Information Security Directive (CISD), 2018 to ensure that risk management practices is adhered to by all Regulated Financial Institutions (RFIs), whilst a secured environment is created within the “cyberspace”. It is therefore admonishing all RFIs to pay particular attention to the increased cyber security risks and...
Prudential has appointed Emmanuel Mokobi Aryee as the new Chief Executive Officer for Africa to oversee the operations of Prudential in its eight African markets. The appointment, seeks to centralise Prudential’s operations in Africa as well as strengthen and grow the business in markets where it currently operates Commenting on the appointment, Solmaz Altin, the Prudential Managing Director, Strategic Business...
Absa Bank made a strong impression at the Chartered Institute of Marketing (CIMG) awards held in Accra. Absa Bank, for the second time in a row, won the “Bank of the Year” while its Managing Director, Abena Osei-Poku won the Marketing Woman of the Year award. The CIMG Awards is one of the foremost platforms in Ghana, rewarding excellence in marketing,...
Mr Osei Gyasi, Head of Banking Supervision at Bank of Ghana, has urged banking staff not only to uphold ethics but also commit to professionalism to ensure high banking standards. He said though ethical banking encouraged transparency and help build strong principles and ideals to govern financial inflows, personal commitment to professionalism could lead to honesty and fairness. Mr Gyasi said...
Increases in food prices; housing, electricity and fuel, and three other divisions pushed inflation for the month of October 2022 to 40.4 %. This means the cost of credit is expected to go up further as the Bank of Ghana is set to take a decision on the policy rate – the rate at which it lends to commercial banks-...
