Author - Daniel Asamoah
18Jan

Customer complaints of banks, other financial institutions dropped 27.87% in half-year 2021 – BoG

The Bank of Ghana received a total of 321 complaints directly from customers of banks, Specialised Deposit-Taking Institutions, and non-deposit taking financial institutions in the first-half of 2021, compared with 445 complaints recorded for the same period in 2020, its 2021 Half-Year Complaints Management Report indicates. This is a 27.87% decline in customer complaints of banks and other financial institutions. Out...

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18Jan

Ghana misses out on single digit inflation target for 2021 …as it records 12.2 % increase in Dec

The government has missed out on its single digit inflation target for the year 2021 as country’s year-on-year inflation rate for December 2021 marginally increased to 12.6 per cent from 12. 2 per cent in November. The December inflation is above the Bank of Ghana’s inflation target of 8+/-2 per cent for 2021.  The Government Statistician, Professor Samuel K. Annim, who...

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18Jan

We’ll continue to implement policies to build strong insurance sector – NIC

The National Insurance Commission (NIC) has assured of continued efforts to increase insurance penetration in the country in 2022. According to the NIC, even though insurance is one of the most important sectors in the economy, it has not recorded the needed patronage it deserves. Speaking on behalf of the Commissioner of Insurance at the 20th Anniversary Thanksgiving Service of Enterprise...

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17Jan

SEC cautions public against Tizaa Ghana Fund ‘investment’ activities

The Securities and Exchanges Commission (SEC) has cautioned the public against doing business with Tizaa Ghana Fund. It said the company has not been licensed to engage in investing or trading for returns business in the country and as such, its activities are not regulated by SEC. Many social media posts over the past week have drawn attention to Tizaa Ghana...

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17Jan

ADB Bank to make agribusiness core priority this year

The Board Chairman of the Agricultural Development Bank (ADB) Limited, Daasebre Akuamoah Agyapong II, has reiterated the commitment of the bank to support the agribusiness sector to meaningfully contribute to the growth of the economy. He said the decision forms part of the bank’s intention to focus more on its core mandate of agricultural financing to ensure food security and...

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17Jan

Akufo-Addo appoints Rosemary Beryl Archer as Deputy CEO of Ghana Exim Bank

President Nana Akufo-Addo has appointed Rosemary Beryl Archer as Deputy Chief Executive (CEO) of Ghana Exim Bank. The new Deputy Chief Executive in Charge of Banking/Business until her appointment was the Head of SMEs at the bank. The appointment was contained in a letter signed by Chief of Staff, Akosua Frema Osei-Opare, and is said to have been made in line with...

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17Jan

BoG receives US$235 million at first foreign exchange auction

The Bank of Ghana (BoG) has on Tuesday received a total of 144 bids amounting to US$235.05 million at the first multiple-price Foreign Exchange(FX) forward auction for the first quarter of 2022. This was against the proposed amount of US$75 million offered by the central bank to only authorised Foreign Exchange dealing banks in the country. The bid amount at the...

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17Jan

2021: Bank executives that left and entered

Mrs. Esther Ruby Arthur was barely 19 years old when she was employed by the Agricultural Development Bank (ADB) around 1981. Last year, she retired from the same bank after 40 years and eight months of service to the only institution that she had known as an employer. Prior to her retirement, she had risen from Secretary to Deputy Human Resource...

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17Jan

Job losses to hit financial sector again as NIC plans to collapse insurance firms

The National Insurance Commission (NIC) is on the verge of withdrawing the licences of some insurance companies after they were unable to recapitalise to GH¢50 million by the end of its recapitalisation deadline. By not meeting the new capital requirement, the insurance sector regulator said the companies had also failed to move their capital adequacy ratio (MCR) to 150%, as...

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17Jan

Inflation, high imports to drive cedi to GH¢7 per US$ by year end – CEFIS report

The Centre for Economics Finance and Inequality Studies (CEFIS) has projected the Ghana cedi to reach GH¢7.03 against the United States dollar by end of the year, given factors such as inflation, high importation, foreign reserve position, current accounts, among others. According to a report by the research firm, titled ‘Ghana Cedi Outlook on the Forex Market 2022’, the inflation forecast...

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