Interest rates continue to surge ahead of the expected hike in the policy rate of the Bank of Ghana from the current 17%. This is expected to increase the cost of doing business in the country further, due to the rising cost of credit. With inflation above 23%, it is expected that the managers of the monetary economy will increase...
CalBank has announced a dividend of 11 pesewas per share to shareholders for the financial year ending December 31st, 2021. All shareholders registered in the books of the bank at the close of business on Friday June 3, 2022, will however qualify for the final dividend. In view of the foregoing, the ex-dividend date has been set as Wednesday, June 1st,...
THE coordinator for the Strategic Youth Network for Development (SYND), Chibeze Ezekiel, has urged banks to adopt the ‘Banks and Biodiversity No Go Policy’ when financing projects in the country to help create an eco-friendly environment. The ‘Banks and Biodiversity No Go Policy’ is an international campaign which demands that banks stop financing projects related to biodiversity loss and social...
The Bank of Ghana has abolished some unfair fees and charges among other practices in the banking sector, in an effort to protect the public. In a notice, the central bank highlighted that maintenance fees on savings accounts charged by financial institutions are prohibited. “Always look out for debits on your account and report any suspicious or unapproved charges/debits to your...
Governor of the Bank of Ghana (BoG) Dr. Ernest Addison has charged banks, and by extension other financial services providers, to consolidate the regulator’s efforts at strengthening the digital finance ecosystem by adopting a proactive posture toward improved security of their channels. This, he suggested, will accrue to the benefit of all stakeholders, seeing the rapid and consistent shift in...
Managing Partner at Koranteng & Koranteng Legal Advisors, Afua Adubea Koranteng, is confident that constant communication and more collaboration between central banks and other regulatory bodies on the continent will better position them to harness benefits of the Pan African Payment and Settlement System (PAPSS) – the cross-border, financial market infrastructure enabling payment transactions across Africa. According to her, as...
Republic Bank Ghana PLC, has appointed Benjamin Dzoboku as the new Managing Director of the bank. He is succeeding Farid Antar, who retires from the bank. The Bank of Ghana granted approval to Mr. Dzoboku’s appointment on 10th May 2022. Mr. Antar retires from the bank on 15th July 2022 after over 42 years of exceptional service to the Republic Financial Holdings...
The Managing Director of GCB Bank PLC, Kofi Adomakoh, says the focus of the Bank is driving revenue. He said having laid a strong foundation and tightening risks, the Bank is well-positioned to return value for investors. Speaking at an investors’ call last Friday, Mr Adomakoh disclosed that credit underwriting standards have been tightened. The engagement with investors of the Bank was...
The Securities and Exchange Commission (SEC) has informed all capital market operators and the investor community that following the commencement of the implementation of the Electronic Transfer Levy (E-Levy) Act 2022 (Act 1075) on 1 May 2022, by the Ghana Revenue Authority (GRA), the Commission “is currently working with the Ministry of Finance (MoF) regarding the potential exemption of...
…promises even less-demanding listing requirements Managers of the Ghana Stock Exchange (GSE) have reiterated that the equity market for small and medium enterprises (SMEs), the Ghana Alternative Market (GAX), remains a viable option for raising growth capital at a lower cost. Since its establishment in 2013, six companies have been listed on the GAX – which targets SMEs by providing far...
