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...
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...
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...
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...
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...
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...
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...
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,...
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...
The Bank of Ghana has stated that the official commencement of full-scale operations of the newly launched Development Bank Ghana, DBG, would help address market failures in the Ghanaian credit markets. Speaking at the launch of the bank on Tuesday, 14th June 2022, Governor of the Bank of Ghana, Dr. Ernest Addison, noted that experiences from countries show that DFIs...
