The First Deputy Governor of the Bank of Ghana (BoG), Dr. Maxwell Opoku-Afari, delivered a guest lecture to some students in the Finance Department at the University of Ghana Business School (UGBS), hosted by Professor Joshua Y. Abor. His lecture focused on the conduct of monetary policy in Ghana and the considerations behind the choice of the recently implemented policy...
…urges investors to take advantage Deputy Director General (Finance) of the Securities and Exchange Commission(SEC), Paul Ababio, has assured investors in the capital, money and stock markets of a better year despite the impact of the pandemic on markets around the world, saying, there is renewed confidence in the system. In an interview with the B&FT, Mr. Ababio said despite the pandemic...
The Minister of Finance, Mr Ken Ofori-Atta, has inaugurated the Board of the Securities and Exchange Commission (SEC) at the Ministry of Finance. The reconstitution of the Board was in line with the Securities Industries Act, 2016 (Act 929) as amended. REV. DANIEL OGBARMEY TETTEHDIRECTOR-GENERAL (SECGhana) The members include: Dr. Yeboa Amoa - Chairman Rev. Daniel Ogbarmey Tetteh - Executive Commissioner Mrs. Deborah...
The Bank of Ghana has partnered with Giesecke+Devrient (G+D) to pilot a general purpose Central Bank Digital Currency, e-Cedi in Ghana. G+D is providing the technology and developing the solution adapted to Ghana’s requirements, which will be tested in a trial phase with banks, payment service providers, merchants, consumers and other relevant stakeholders. To this end, the Bank of Ghana has...
Data from the financial statements of about 60% of banks in the country for the first half of the year 2021, shows steady growth in their total assets. While banks like UBA Bank and OmniBSIC Bank saw their asset base grow by almost 40 percent at the end of the first half of 2021, when compared with the figures recorded...
Banking consultant Nana Otuo Acheampong has charged the Bank of Ghana and institutions participating in the Credit Reporting System (CRS) to ensure accuracy in the data they collect. According to him, poorly kept records could lead to innocent borrowers being rated unfairly by lenders. The remarks come on the back of the announcement of the expansion of the list of companies...
The Bank of Ghana has revised the mergers and acquisitions directive, aimed at preventing the adverse impact on competition and stability of the financial system. The directive is Pursuant to Sections 54(4) and 92(1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930), and was done in consultation with the banking industry as well as the development partners,...
Data from the financial statements of about 60% of banks in the country for the first half of the year 2021, shows promising increases in profits for some and some slowdown in profit growth for others. This can be gleaned from the Summary Statements of Comprehensive Incomes of 13 of Ghana’s top banks covering January to June 2021, after a...
In December 2018, the Bank of Ghana (BoG) issued a Corporate Governance Directive, pursuant to its powers under sections 56 and 92(1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016, Act 930. The Association of Finance Houses, in November 2020, brought an action at the apex court challenging the BoG’s authority to issue the directive, arguing that it ought to...
The banking sector recorded sustained growth and resilient performance during the first half of the year, with the available data showing robust growth in total assets, deposits, and investments, Finance Minister Ken Ofori-Atta has told parliament. Delivering the md-year budget review on Thursday, 29 July 2021, Mr Ofori-Atta said “total assets increased by 17.2 per cent year-on-year to GH¢162.9 billion ...
