Increases in food prices; housing, electricity and fuel, and three other divisions pushed inflation for the month of October 2022 to 40.4 %. This means the cost of credit is expected to go up further as the Bank of Ghana is set to take a decision on the policy rate – the rate at which it lends to commercial banks-...
Dr Justice Ofori, Ghana’s Commissioner of Insurance, was adjudged one of the Best African Professionals in Africa for the year 2021 at the African Professionals Excellence Awards. A statement from the National Insurance Commission signed by Mr Mawuli Zogbenu said the Awards ceremony took place in Addis Ababa, Ethiopia on November 4, 2022. Dr Justice Ofori joined the ceremony virtually to...
The Monetary Authority of Singapore (MAS), Bank of Ghana (BOG) and Development Bank Ghana (DBG) have signed a Memorandum of Understanding (MOU) to develop the Ghana Integrated Financial Ecosystem (GIFE). The GIFE aims to enhance financial capabilities and access for micro, small and medium enterprises (MSMEs) in Ghana and generate greater opportunities for trade and financial services cooperation between Singapore...
The Securities and Exchange Commission is assuring all market operators, investors, and the public that it is committed to ensuring rigorous enforcement of all the rules for operators in the capital market. This it believes will promote the growth and development of an efficient, fair, and transparent securities market in which investors and the integrity of the market are protected. In...
The Bank of Ghana has assured it will not allow the ‘black market’ to drive the exchange rate market in the country. According to the Governor, Dr. Ernest Addison, it will do everything possible within its remit to ensure that black market dealers do not dictate to the market. He added that his outfit has also created a Twitter page, purposely...
The Association of Forex Bureau Operators has commended the Governor of the Bank of Ghana, Dr. Ernest Addison for his role in clamping down on illegal forex dealers also known as “Black Market” in a move to sanitise the sector. The association indicated that their outfit was aware of the numerous measures being executed to flush out the illegal foreign exchange...
The Bank of Ghana has debunked allegations by the Director of Research at the Ghana Trades Union Congress (GTUC), Dr. Kwabena Nyarko Otoo that it is collaborating with some operatives at Cow-lane in Accra to illegally transfer funds offshore. The Central Bank says it vehemently denies the said allegations and also considers them extremely reckless. “We would have expected that such...
The National Insurance Commission (NIC) has cautioned banks and financial institutions which are not licensed by the commission to desist from serving as insurance intermediaries. The commission has further charged them to stop soliciting fees, commissions, and or other remuneration from insurance companies in exchange for referring clients, customers or any other person whether individual or corporate to the insurer. It...
Mr Kofi Andoh, the Deputy Commissioner of Insurance, at the National Insurance Commission (NIC), says it is building a regulatory framework to ensure active annuities market. Annuities are a range of insurance products that provide decent periodic payments for retirees. He explained that the market was relatively new and that NIC and stakeholders to ensure that insurance companies had the relevant...
The Managing Director of Consolidated Bank Ghana Ltd. (CBG), Mr. Daniel Wilson Addo, has been adjudged the Marketing Man of the Year 2021 at the 33rd Annual National Marketing Performance Awards organized by the Chartered Institute of Marketing Ghana (CIMG). Themed: ‘Creative Marketing and Innovation in a Volatile Global Economy’, this year’s Annual National Marketing Performance Awards seek to recognize...
