The Ghana Stock Exchange will soon finalise the process to establish an investor credit rating agency for players on the stock market. The move is to enhance credibility of the market and open up activities of investors to all stakeholders. Head of Fixed Income Bond Market, Augustine Simons, explained that this is critical to the growth of the market. “To help us...
Mrs. Elsie Addo Awadzi has been reappointed as the second Deputy Governor for a second term with effect from Monday. Mrs. Addo Awadzi has over 25 years of professional experience working in various capacities in Ghana and internationally – in law, finance, policy and regulatory reforms, financial sector regulation, sustainable development and public financial management among others. Mrs. Awadzi was first...
Total market capitalisation of the Ghana Stock Exchange (GSE) at the end of January this year rose to GHC64.5 million. This represents an increase of 16.56 per cent of the GHC55.3 million recorded in the same period last year. The summary of the January 2020 market activities issued by the GSE and copied to the Ghanaian Times said the market witnessed...
The Data Protection Commission of Ghana has compiled a list of non-compliant Data Controllers to be forwarded to the Attorney General’s Department to commence legal proceedings. This follows refusal by some Data Controllers to register with the Data Protection Commission as mandated by law under Section 46(3) of the Data Protection Act 2021 (Act 843). The Executive Director of the Data...
The national year-on-year inflation rate for January 2022 has increased to 13.9%, which is 1.3 percentage points higher than the 12.6% recorded in December 2021. Professor Samuel Kobina Anim, the Government Statistician who announced this explained, that this is the highest figure recorded since the rebasing of the economy was done in August 2019. Month-on-month inflation between December 2021 and January 2022 was...
Insurance companies that fail to meet the new minimum capital requirement by May this year may have to sell off their companies or merge with others. This is according to the Commissioner of Insurance for the National Insurance Commission (NIC), Justice Ofori. The move follows a decision by the NIC to see to the recapitalisation of insurance companies in the country. Insurance penetration...
Economist and lecturer at the University of Ghana Business School (UGBS), Dr. Patrick Opoku Asuming is confident the Bank of Ghana will soon increase its Monetary Policy Rate above the current 14.5%. This, according to him, is due to the rising inflation in the country and developments on the global scene especially the likelihood of the United States Federal Reserve...
The Agricultural Development Bank (ADB) plans to increase its network locations from 86 to 100 nationwide.It means the 14 new branches will be located in communities which are predominantly involved in agriculture. The Managing Director (MD) of ADB, Dr John Kofi Mensah, announced this at the ADB’s ‘Customer Appreciation Dinner’ held in Accra recently.The event offered management the opportunity to...
Data published by the Bank of Ghana have shown that consumers’ appetite for Internet banking has started slowing down. An analysis of the Summary of Economic and Financial data (January 2022) indicates that the growth rate of Internet banking – both in terms of value and volume – slowed in December, compared to the previous two months in the last...
THE PERFORMANCE of Ghana’s banking sector in 2021 pointed to sustained growth in assets, deposits, and investments alongside improvements in the financial soundness indicators. In the year, total assets grew by 20.4 percent to GH¢179.8 billion as at December 2021. Asset quality, however, continued to reflect the general pandemic-induced repayment challenges as well as some bank-specific loan recovery challenges. According to the...
