A Banking Consultant, Mrs. Ramat Ebella Ellis, has described financial literacy empowerment as a critical tool for investment and called for upscaling advocacy among Ghanaians to raise the public’s interest in financial-related issues, especially investment. “Financial literacy advocacy was key in developing the investment sector of the economy,” Mrs. Ellis who is also an Investment Advisor to the Centre for...
RDF Ghana LBG, a development finance institution, in collaboration with the National Banking College, has unveiled a training programme for Rural and Community Banks (RCBs) to drive sustainable rural growth and development. Dubbed RDF Executive Management Essentials for Rural Banking (REMERB), the programme developed with support from the Association of Rural Banks and ARB Apex Bank, is to...
The Finance Ministry has stated that ATM withdrawals will not attract the 1.5% charge on electronic transfers. Also, same person transactions will not attract the E-Levy. The E-Levy is a tax imposed on electronic transfers charged at the time of transfer. The levy shall be administered by the GRA and collected through licensed Banks, Specialised Deposit-Taking Institutions, Payment Service Providers(PSPs), and...
The Bank of Ghana (BoG) has injected $100 million into the forex market to shore up the Cedi. This is part of moves to boost supply of dollar to the foreign exchange (FX) market and ease the depreciation of the cedi to dollar further. A statement issued by the BoG in Accra on Wednesday and signed by the Secretary, Sandra Thompson,...
A number of leading Institutions and HR Leaders from Africa, including Ghana, were celebrated at the 4th edition of the Africa Human Resources Innovation Awards (AHRIA) held on Friday 25th March 2022 at the Movenpick Ambassador Hotel in Accra, Ghana. This year’s event which was under the theme: “Rewarding Excellence in the HR sector”, was graced by the crème de...
Ecobank, the leading Pan-African Banking Group, has won five prestigious awards at the Global Finance Treasury and Cash Management Awards 2022. The awards included Africa’s Best Bank for Cash Management and Africa’s Best Provider of Short-Term Investments/Money Market Funds. In addition, Ecobank Cameroon, Ecobank Côte d’Ivoire and Ecobank Kenya were all named Best Treasury and Cash Management Banks 2022 in their...
Ongoing economic conditions emanating from rising inflation and policy rate hike, as well as depreciation of the local currency, are already affecting the stock market’s performance, Market Analyst, Kofi Busia Kyei, has said. Headline inflation in February 2022 rose sharply to 15.7 percent, with the local currency as of mid-March depreciating by 17 percent to the dollar on...
The Bank of Ghana has revealed that some of the persons involved in the GH¢1bn fraud that hit the banking sector in 2020 are being prosecuted. A source at the central bank told the Daily Graphic that while some of the banks were still investigating the persons involved, others were going through due process in the courts. “This is a matter...
The Bank of Ghana (BoG) has purchased 600 kilogrammes of gold under its Domestic Gold Purchase (DGP) programme to help shore up the country’s foreign exchange reserves, Governor, Dr Ernest Addison, has said. He disclosed this on Monday after the 105th regular meeting of the Monetary Policy Committee press conference, in response to a question on the quantity of gold the...
Banking consultant Nana Otuo Acheampong is confident that the reversal of the COVID-19 era reliefs given to Universal Banks, will help in mopping up excess liquidity within the banking system. According to him, instead of lending to the private sector, banks in the country continue to use the excess liquidity they have to buy treasury bills. Per the latest Monetary Policy...
