The Bank of Ghana (BoG) has said its attention has been drawn to information circulating on social media to the effect that customers whose accounts are dormant should hurriedly reactivate their accounts or risk losing their funds to the Bank of Ghana. The regulator said that the recently published Directive on dormant accounts seeks to provide directions to...
The Bank of Ghana is ready to begin the pilot phase for the first digital currency known as the ‘e-cedi’ by September this year. Also known as the Central Bank Digital Currency, it is expected to operate in a sandbox in the interim before introducing to the general public as legal tender for financial transactions. First Deputy Governor of the Bank...
Businesses must reduce their reliance on banks for funding and consider other sources of finance to support their operations, Paul Ababio, Deputy Director-General in Charge of Finance at the Securities and Exchange Commission, has observed. Businesses must reduce their reliance on banks for funding and consider other sources of finance to support their operations, Paul Ababio, Deputy Director-General...
A leading investment banker and Deputy Managing Director of the Ghana Stock Exchange, Abena Amoah has endorsed the approach being used for the establishment of the Development Bank Ghana. Madam Amoah, speaking as part of a development finance series organised by Citi TV and Citi FM in collaboration with the research and consultancy Centre of the University of Professional Studies,...
The Managing Director of the Ghana Stock Exchange (GSE) Mr. Ekow Afedzie has said the buoyant trend witnessed recently indicates the confidence of investors in the local economy. Ghana’s stock market has emerged as the best performing market on the African continent after it returned about 36% in dollar term for investors. MTN Ghana (87.50%), Guinness Ghana Breweries Limited (43.33%), Soceite...
The Director General of the Securities and Exchange Commission, Rev. Daniel Ogbarmey Tetteh, has said that the commission will soon come out with its final policy position on trading in cryptocurrencies. He said the commission was still trying to get a better view of how to approach the whole issue of cryptocurrencies to determine whether to allow it or not.Until...
Second Deputy Governor of the Bank of Ghana, Mrs Elsie Addo Awadzi, has said that the Bank of Ghana (BoG)’s plan to introduce a digital currency will help in the efforts to go cashless as a country. The regulators’ digital currency is expected to reduce the cash transactions in the country. The process is currently ongoing to ensure that the established...
The Official Liquidator for the defunct Fund Management Companies (FMC’s), the Registrar-General, will on Friday, July 2, have an investor class meeting with customers of some defunct FMC’s. A statement signed by Jemima Oware stated that “all the creditors of the under-listed companies are being invited to a Virtual First Creditors meeting on the scheduled time for each company to...
The Ghana Stock Exchange was the best performing stock market on the African continent in the first half of the year, recording a staggering 36.13%in dollar term for investors. This is coming after a poor performance last year. The Accra Bourse also recorded 36.16% return in cedi term for investors. This was far above its peers on the continent. At the end...
… 101 directors from 34 firms invited Watchdog for fund managers in the country, the Securities and Exchange Commission (SEC), has extended letters of invitation to 101 directors from 34 defunct firms to aid the Commission in ascertaining the roles played by these persons in the sub-par running of their respective firms, and proffer punitive measures where necessary. This was disclosed by the...
