As Ghana sector complete cleanup, two more banks dissolved

Posted by - January 8, 2019

Ghana’s Central Bank recently disclosed the revocation of the operating licences of two more banks, Premium Bank and Heritage Bank. Announcing the decision, Ernest Addison, Governor of Bank of Ghana, said the two years long banking sector cleanup had come to an end, leaving 23 universal banks out of an initial 35. While Premium Bank

World Bank authorises financing for Ghana’s land reforms

Posted by - November 28, 2018

A current release from Ghana’s country office has stated that the World Bank group has confirmed a 35 million U.S. dollars financing to support Ghana’s land administration project. The release reiterated that the bank gave approval for the financing on 21st of November, to support efforts by the government of Ghana to boost services and

Prof.Omane -Antwi, others honoured at 4th Ghana Finance Innovation Awards

Posted by - October 22, 2018

The fourth edition of the Ghana Finance Innovation awards came off on Friday, October 19, 2018 at the Movenpic Ambassador hotel in Accra. The ceremony, which was on the theme: “Rewarding excellence in the Financial Industry saw a total of 35 personalities and institutions celebrated for their diverse contributions to the growth of the Finance

MTN Ghana revenue rises, driven by mobile money service

Posted by - October 22, 2018

MTN Group said on Friday its Ghana unit’s third quarter revenue grew around 23 percent boosted by its mobile money service MoMo. MTN Ghana said revenue for the nine months ended 30 September 2018 rose to 3.54 billion Ghanaian cedi ($731.90 million) from 2.49 billion Ghanaian cedi during the same period a year ago. During

Ivory Coast cocoa price up in new season, Ghana’s flat

Posted by - October 3, 2018

Ivory Coast, the world’s top cocoa grower, raised the guaranteed price it pays farmers by 7 percent to 750 CFA francs ($1.34) per kilogramme for the 2018/19 main crop, while Ghana kept its price flat, the two countries announced on Monday. Ghana’s government said it would not change the farmgate price it pays cocoa farmers,

Ghana’s “growth prospects strong” – IMF

Posted by - October 3, 2018

The International Monetary Fund (IMF) has said Ghana’s growth prospects remain strong. The verdict by the IMF follows a team visit by its staff to Ghana led by Annalisa Fedelino, from 17 – 27 September 2018, to conduct the seventh review of Ghana’s economic programme supported by the Extended Credit Facility (ECF). The discussions focused

Ghana Exim Bank Deputy CEO resigns

Posted by - October 1, 2018

The Deputy Chief Executive Officer of the Ghana EXIM Bank, Cynthia Pamela Akotoaa Addo has resigned from her position. In a letter addressed to the presidency, Ms Addo said the resignation is to enable her to take up a new appointment as the Judicial Secretary for the Judicial Service. “Please accept this letter as notice

Prince Charles visits Ghana November 2

Posted by - September 28, 2018

Clarence House (the official residence of the Prince of Wales, Prince Charles) has announced that the Prince of Wales and The Duchess of Cornwall will visit Ghana on November 2 as part of a tour of three African countries. According to a statement issued Thursday on the Prince of Wales Website, “Their Royal Highnesses’ visit,

Ghana’s debt stock hits GHS159.4bn

Posted by - September 25, 2018

Ghana’s public debt stock is now GHS159.4 billion as of 30 August 2018, according to the Bank of Ghana’s September summary of Economic and Financial data. Per the data, the debt stock rose by GHS5.1 billion between May 2018 and August 2018. Domestic debt accounted for GHS73.8 billion of the total debt stock, representing 30.6

World Bank gives Ghana $30m credit support

Posted by - September 25, 2018

The World Bank has approved a $30 million International Development Association (IDA) credit to support the Government of Ghana strengthen its financial sector stability. The support is also to improve inclusiveness for users of formal financial services and the financially excluded, particularly women, rural communities and farmers. Commenting on the gesture, the World Bank Country