Amidst the continuous rise in inflation rate and calls for an intervention to stem the situation, the Institute of Economic Affairs (IEA) is projecting a 200 basis points increase in the monetary policy rate to 19 percent. This, it believes, will help narrow the gap with rising inflation and also ease to some extent the risk of foreign currency outflows. The...
National Investment Bank (NIB), the country’s foremost Development Finance Institution, will host senior management and experts in development finance across Africa in Accra from May 23 to 25 for the 2022 General Assembly of the Association of African Development Finance Institutions (AADFI). The three-day Assembly will occur at the Labadi Beach Resort under the theme ‘Unlocking Innovative Resources for Development Finance:...
The Managing Director of FBNBank Ghana, Mr. Victor Yaw Asante, has reiterated the commitment of banks in the country to continuously innovate to keep up with the pace of changing customer behaviour and expectations. According to him, this will ensure that the industry remains relevant and competitive, especially in product development, personalization and customer service delivery. “Our industry needs to remain...
The Producer Price Inflation(PPI) rate for April 2022 is 31.2 percent, the Ghana Statistical Service said on Wednesday. The rate represents a 1.9 percentage point increase in producer inflation relative to the rate recorded in March, 2022 of 29.3 per cent. Professor Samuel Kobina Annim, the Government Statistician, said the month-on-month change in the producer price index between March 2022 and...
The Managing Director of ARB Apex Bank, Alex Akwasi Awuah, has asked women to be more involved in changing the fortunes of the banking sector. Those within the industry have also been urged to exhibit their prowess and help take the industry to the next level. Mr Awuah made the call at the inauguration of the ARB Apex Bank Ladies Association...
he Insurance Industry’s stakeholders have unanimously endorsed the appointment of Dr Aaron Issa Anafure by the Commissioner of Insurance, Dr Justice Ofori to steer affairs as the Chairman of the Local Organising Committee of the conference of the Association of Insurance and Reinsurers of Developing Countries (AIRDC). This conference, originally scheduled to take place in 2020 had to be rescheduled...
Interest rates continue to surge ahead of the expected hike in the policy rate of the Bank of Ghana from the current 17%. This is expected to increase the cost of doing business in the country further, due to the rising cost of credit. With inflation above 23%, it is expected that the managers of the monetary economy will increase...
CalBank has announced a dividend of 11 pesewas per share to shareholders for the financial year ending December 31st, 2021. All shareholders registered in the books of the bank at the close of business on Friday June 3, 2022, will however qualify for the final dividend. In view of the foregoing, the ex-dividend date has been set as Wednesday, June 1st,...
THE coordinator for the Strategic Youth Network for Development (SYND), Chibeze Ezekiel, has urged banks to adopt the ‘Banks and Biodiversity No Go Policy’ when financing projects in the country to help create an eco-friendly environment. The ‘Banks and Biodiversity No Go Policy’ is an international campaign which demands that banks stop financing projects related to biodiversity loss and social...
The Bank of Ghana has abolished some unfair fees and charges among other practices in the banking sector, in an effort to protect the public. In a notice, the central bank highlighted that maintenance fees on savings accounts charged by financial institutions are prohibited. “Always look out for debits on your account and report any suspicious or unapproved charges/debits to your...
