Managing Director of GCB Bank PLC, Kofi Adomakoh has resigned. The Bank has officially appointed Farihan Alhassan, a distinguished banking professional with two decades of experience, as its new Managing Director. Mr. Alhassan joins GCB Bank with an impressive track record, most recently serving as the Executive in Charge of Business and Commercial Banking at Stanbic Bank Ghana where he excelled...
Mobile Money transactions in Ghana continued their upward trajectory with total transaction value reaching GHS 334.8 billion in December 2024. This represents a significant rise from GHS 316.4 billion in November and underscores the growing adoption of digital financial services in the country.The number of transactions also saw a substantial increase, climbing to 745 million in December from 709 million...
The Bank of Ghana (BoG) has revised its timeline for the attainment of single-digit inflation to the second quarter of 2026 due to macroeconomic headwinds.This is an extension of from the previously anticipated first quarter timeline. BoG Governor, Dr. Ernest Addison made this known during the 122nd Monetary Policy Committee press briefing on Monday, January 27, 2025. The central bank’s medium-term...
The country at end of 2024 recorded $8.98 billion in Gross International Reserves (GIR), covering four months of import cover. This nearly double the figure recorded in 2023 which stood at $5.92 billion, covering 2.7 months of import cover. The Governor and Chairman of the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG), Dr Ernest Addison, speaking at the...
