Mobile money interoperability (MMI) has increased the total cumulative value of mobile transactions in Ghana to GHC978 billion at the end of last year from GHC78 billion in 2017, Vice-President, Dr Mahamudu Bawumia, has said. Speaking at the 2022 Annual National Internal Audit and Governance Conference, organised by the Institute of Internal Auditors (IIA), the vice-president also noted that Ghana is the first...
Fidelity Bank Ghana has announced the appointment of Atta Yeboah Gyan as its Deputy Managing Director in charge of Operations and Support functions. Atta Gyan is a hands-on executive and ascends to this new role with a wealth of experience in several aspects of banking, including Finance, Corporate Strategy, Risk Management, Operations, Audit and Control, and Regulatory Compliance. He has played...
Some stakeholders in the financial sector have cautioned that until the Bank of Ghana (BoG) comes out with strict regulations on the operations of Crypto currency, it will be dangerous to enter the space even though it is gaining grounds in Europe and other parts of the world. Recently, the Central African Republic approved Bitcoin as a legal tender, the...
iner as it closed at GH¢0.90 representing a YTD gain of 4.65%. The decliners were ETI, SIC, GCB and GLD as they closed at GH¢0.19, GH¢0.25, GH¢5.10 and GH¢142.50 representing a YTD loss of 5.00%, 3.85%, 0.39% and 10.15% respectively. Ticker Close Price (GH¢)Open Price (GH¢)Price ChangeY-t-D ChangeCAL 0.90 0.86 0.04 4.65%ETI 0.19 0.20 -0.01 -5.00%SIC 0.25 0.26 -0.01 -3.85%GCB 5.10 5.12 -0.02 -0.39%GLD 142.50 158.60 -16.10 -10.15% Market capitalization decreased by GH¢ 222.95 million to close the trading week at GH¢ 63.82 billion. A total of 87.63 million...
The rate of depreciation of the cedi to the US dollar has slowed down considerably, but the rapid fall in the first quarter of 2022 has kept the local currency as one of the worst performing currencies in Africa so far this year. The cedi declined in value by about 19.02% to the dollar in the first four months of...
The First Deputy Governor of the Bank of Ghana, Dr Maxwell Opoku-Afari, has advised Journalists to accurately report news on finance and the economy. He said this will calm financial market participants and prevent disorderly reactions during these periods of heightened uncertainty. The ongoing Russia-Ukraine conflict has triggered a downgrade of global growth forecasts by the International Monetary Fund while the...
Zenith Bank Ghana Limited has announced the appointment of Henry Chinedu Onwuzurigbo as the new Managing Director and Chief Executive Officer of the Bank. He takes over from Anthony Akindele Ogunranti who has been elevated to the position of Executive Director in Zenith Bank Plc. Mr Onwuzurigbo, until his appointment, was the Executive Director of Zenith Bank Ghana. Prior to joining Zenith...
Lack of adequate public education on the financial sector is partly to blame for the high incidence of people falling prey to Ponzi schemes; hence, there is a need to intensify awareness on the subject, Deputy Director-General at the Securities and Exchange Commission (SEC), Deborah Agyemfra, has said. “People are still running for products (from the unregulated space) that will harm them...
The capital markets regulator, the Securities and Exchange Commission (SEC), currently has more than 700 complaints from customers of some fund management firms over their inability to access funds after making the due redemption requests. This was disclosed by the deputy director-general responsible for Legal Affairs at the Commission, Deborah Agyemfra, while making submissions on the topic ‘Enhancing Investors’ Confidence:...
Despite its sluggish start to the year, the equities market is projected to close the year with a positive return of approximately 12 percent – and this will be driven by an upturn in the fortunes of financial stocks, a recently-released report by Databank indicates. The Ghana Stock Exchange, as measured by its composite index (GSE-CI), has endured a lukewarm...
