The Producer Price Inflation (PPI) rate for October 2022 inched up to 65.2%, a 19.3 percentage points increase relative to the rate recorded in September 2022 (45.9%). According to the Ghana Statistical Service, the month-on-month change in the PPI between September and October 2022 was 15.4%. Excluding the construction sector, the PPI increased to 75.6% in October 2022, from 54.5% in...
GH¢245m already deployed for on-lending by PFIsGH¢1bn underway in 6-months10 partnerships undertaken5 partner financial institutions Ensuring competitively priced medium-to-long-term financing to support the small and medium-sized enterprises (SME) sector, the Development Bank Ghana (DBG) is leveraging on its capacity and partner financial institutions (PFIs) to de-risk the SME sector, Chief Executive Officer (CEO) of the Bank, Kwamina Duker, has said. Prior...
The Bank of Ghana is currently in the process of reviewing the Cyber and Information Security Directive (CISD), 2018 to ensure that risk management practices is adhered to by all Regulated Financial Institutions (RFIs), whilst a secured environment is created within the “cyberspace”. It is therefore admonishing all RFIs to pay particular attention to the increased cyber security risks and...
Prudential has appointed Emmanuel Mokobi Aryee as the new Chief Executive Officer for Africa to oversee the operations of Prudential in its eight African markets. The appointment, seeks to centralise Prudential’s operations in Africa as well as strengthen and grow the business in markets where it currently operates Commenting on the appointment, Solmaz Altin, the Prudential Managing Director, Strategic Business...
Absa Bank made a strong impression at the Chartered Institute of Marketing (CIMG) awards held in Accra. Absa Bank, for the second time in a row, won the “Bank of the Year” while its Managing Director, Abena Osei-Poku won the Marketing Woman of the Year award. The CIMG Awards is one of the foremost platforms in Ghana, rewarding excellence in marketing,...
Mr Osei Gyasi, Head of Banking Supervision at Bank of Ghana, has urged banking staff not only to uphold ethics but also commit to professionalism to ensure high banking standards. He said though ethical banking encouraged transparency and help build strong principles and ideals to govern financial inflows, personal commitment to professionalism could lead to honesty and fairness. Mr Gyasi said...
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...
