Remittances to Ghana is expected to grow to about $4.5 billion in 2022, as the global economy recovers, Fitch Solutions has projected Nonetheless, the country’s Current Account deficit will widen albeit modestly, from an estimated 2.6% of the size of the economy in 2021 to 2.9% in 2022. Fitch Solutions said Ghanaians will continue to move abroad as a result of...
The Ghana Stock Exchange Financial Stocks Index (GSE-FSI), which measures stocks of publicly-listed financial sector companies, has for the first time in five years outperformed the rest of the market, first-quarter data from the Exchange have shown. Compared to the benchmark market-wide Composite Index (GSE-CI), which lost 1.67 per cent at end of the period, the GSE-FSI has given investors...
Mrs Elsie Addo Awadzi, the Second Deputy Governor, Bank of Ghana (BoG), has called on stakeholders within the business sector to join forces with the BoG to help mitigate the impact of COVID-19 on women businesses. The BoG believes in inclusive and resilient financial system and economy because it works for all of us as a nation, and as stakeholders,...
The Economic and Organised Crime Office (EOCO) in collaboration with the Ghana Association of Banks, has arrested four (4) persons engaged in SIM swap fraud. Suspects, according to a representative of the Association of Banks, Mr. Ransford Nana Addo Jnr, were picked up at various locations in the country for colluding and illegally accessing the accounts of some Ghanaians from...
A Banking Consultant, Mrs. Ramat Ebella Ellis, has described financial literacy empowerment as a critical tool for investment and called for upscaling advocacy among Ghanaians to raise the public’s interest in financial-related issues, especially investment. “Financial literacy advocacy was key in developing the investment sector of the economy,” Mrs. Ellis who is also an Investment Advisor to the Centre for...
RDF Ghana LBG, a development finance institution, in collaboration with the National Banking College, has unveiled a training programme for Rural and Community Banks (RCBs) to drive sustainable rural growth and development. Dubbed RDF Executive Management Essentials for Rural Banking (REMERB), the programme developed with support from the Association of Rural Banks and ARB Apex Bank, is to...
The Finance Ministry has stated that ATM withdrawals will not attract the 1.5% charge on electronic transfers. Also, same person transactions will not attract the E-Levy. The E-Levy is a tax imposed on electronic transfers charged at the time of transfer. The levy shall be administered by the GRA and collected through licensed Banks, Specialised Deposit-Taking Institutions, Payment Service Providers(PSPs), and...
The Bank of Ghana (BoG) has injected $100 million into the forex market to shore up the Cedi. This is part of moves to boost supply of dollar to the foreign exchange (FX) market and ease the depreciation of the cedi to dollar further. A statement issued by the BoG in Accra on Wednesday and signed by the Secretary, Sandra Thompson,...
A number of leading Institutions and HR Leaders from Africa, including Ghana, were celebrated at the 4th edition of the Africa Human Resources Innovation Awards (AHRIA) held on Friday 25th March 2022 at the Movenpick Ambassador Hotel in Accra, Ghana. This year’s event which was under the theme: “Rewarding Excellence in the HR sector”, was graced by the crème de...
Ecobank, the leading Pan-African Banking Group, has won five prestigious awards at the Global Finance Treasury and Cash Management Awards 2022. The awards included Africa’s Best Bank for Cash Management and Africa’s Best Provider of Short-Term Investments/Money Market Funds. In addition, Ecobank Cameroon, Ecobank Côte d’Ivoire and Ecobank Kenya were all named Best Treasury and Cash Management Banks 2022 in their...
