Fidelity bank dismisses reports of seizing US$25m from MIIF
Fidelity Bank has strongly dismissed allegations of seizing US$25 million from the Minerals Income Investment Fund (MIIF).Earlier reports suggested that in 2024, MIIF, operating...
Women’s bank to offer credit at low interest, flexible terms – Gender Minister-designate
Member of Parliament for Nungua and Minister-designate for Women, Children, and Social Protection, Dr. Agnes Naa Momo Lartey, has said that plans to establish...
Banking sector clean-up was haphazardly done – Kofi Amoabeng
Former UT Bank founder and CEO, Captain (Rtd) Prince Kofi Amoabeng, has expressed strong reservations about how Ghana's banking sector clean-up was conducted, describing...
GCB announces temporary closure of Nkwanta branch
The Ghana Commercial Bank(GCB) has temporarily closed down its Nkwanta branch in the Oti Region due to the renewed chieftaincy clashes.The re-emergence which has...
‘How can I steal from a bank I built?’ – Kofi Amoabeng quizzes
Former UT Bank founder and CEO, Captain Prince Kofi Amoabeng, has dismissed allegations of misappropriating funds from the bank he founded, describing the claims...
‘Did IMF order Rambo-style UT Bank closure?’ – Kofi Amoabeng questions BoG
Former UT Bank founder and CEO Prince Kofi Amoabeng has questioned the International Monetary Fund's (IMF) involvement in the closure of UT Bank and...
‘I had a hunch IMF played a role in UT Bank closure’ – Kofi Amoabeng
The former founder and CEO of UT Bank, Prince Kofi Amoabeng, has voiced his suspicions about the role of the International Monetary Fund (IMF)...
Private sector participation crucial in power distribution – Jinapor
Energy Minister-Designate John Abdulai Jinapor has emphasized the importance of private sector participation in the operations of the Electricity Company of Ghana (ECG) to...
I didn’t say I was going to request additional funds from IMF – Finance Minister-Designate
The Finance Minister-designate, Dr. Cassiel Ato Forson, has refuted claims that he intends to request additional finance from the International Monetary Fund (IMF).Speaking during...
Gov’t could seek more IMF funding – Finance Minister-designate
The new Mahama government could seek extra funding from the International Monetary Fund (IMF) during its current, three-year programme with the lender to cushion...
Ghana is 2nd most indebted African country to IMF in terms of Concessional Lending
Ghana is the second most indebted country to the International Monetary Fund in Africa in terms of Concessional Lending and Debt Relief Trust.The country’s...
Pound falls as borrowing costs rise to highest since 2008
The pound has fallen to its lowest level for nine months after UK government borrowing costs continued to rise.The drop came as UK 10-year...
Maintain E-Levy to support Women’s Development Bank, SMEs – GUTA tells Mahama
The President of the Ghana Union of Traders Association (GUTA), Dr Joseph Obeng, has urged President John Dramani Mahama to reconsider his decision to...
As long as I remain BoG Governor, no revoked license will be reinstated – Dr Addison
The Governor of the Bank of Ghana(BoG) Dr Ernest Addison, has ruled out the possibility of the restoration of any revoked banking licenses as...
BoG injected US$2.8bn into forex market between August and December 2024
The Bank of Ghana injected about US$2.8 billion into the foreign exchange market between August 2024 and December 2024.It subsequently auctioned US$480 million to...
Bank of Ghana: List of FX Brokers authorised to operate on the Ghana Interbank FX Market
The Bank of Ghana (BoG) has announced the authorized FX brokers permitted to operate in the Ghana Interbank Forex Market for the calendar year...
BoG issues large exposures directive for banks, others
The Bank of Ghana has issued the Large Exposures Directive for Banks, Savings and Loans, Finance Houses and Financial Holding Companies.The objectives of the...
ADB justifies $750,000 ‘last minute’ contract
The Board of Directors of the Agricultural Development Bank (ADB) Plc has explained that the alleged last-minute $750,000 contract is a renewal.In a statement,...
Ablakwa blows alarm on ADB board’s $750K last minute contract
Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa has raised an alarm on the approval of an electronic servicing agreement worth US$750,000 by...
BoG issues bancassurance directives to stakeholders in financial sector
The Bank of Ghana (BoG) has issued the bancassurance directives as an Exposure Draft to solicit comments and inputs from the banking industry and...
BoG Governor explains UT, Capital Bank license revocations
The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has attributed the revocation of licenses for UT Bank and Capital Bank to...
Bond market: Volume falls by 50.1% on risk sentiments
Trading activities in the secondary bond market declined by 50.1% last week due to risk-off sentiments among offshore investors.Total volume traded fell to GH¢762...
Maintain a tight monetary policy stance – IMF to BoG
The International Monetary Fund (IMF) has urged the Bank of Ghana (BoG) to maintain a tight monetary policy stance given upside risks to inflation...
Fitch expects outlook for sub-Saharan African sovereigns to be neutral in 2025
Fitch Ratings expects the outlook for sub-Saharan African sovereigns to be neutral in 2025.This the UK-based firm says will reflect a stronger macroeconomic outlook...
Ghana spent nearly half of revenue on debt servicing in 5 years
Ghana spent 42% of its revenue to servicing debt between 2017 and 2022, according to the 2024 United Nations report on Unpacking Africa’s Debt.This...
Bitcoin hits new record high of more than $106,000
Bitcoin has surged to a new record high, extending a rally that has seen the cryptocurrency's price rise by more than 50% since Donald...
ADB threatens legal action over false claims against Deputy Managing Director
The Agricultural Development Bank PLC (ADB) has strongly refuted circulating allegations aimed at tarnishing the reputation of the Bank and its Deputy Managing Director,...
Recapitalisation of banks progressing, but credit risks surge – IMF
The recapitalisation of banks is progressing, but credit risks have increased, the International Monetary Fund has stated.The Washington-based multilateral institution, however, said the banking...
IMF programme renegotiation will be guided by plans to reset economy – Terkper
Former Minister of Finance Seth Terkper has revealed that President-elect John Mahama’s proposals to renegotiate the International Monetary Fund (IMF) programme will be guided...
SikaFX launches revolutionary money transfer services in Ghana
SikaFX, an innovative money transfer platform, is excited to announce its launch in Ghana’s financial sector.The company’s goal is to streamline international remittances, providing...
Elon Musk’s record $447 billion fortune means he’s nearly $200 billion ahead of Jeff Bezos
Elon Musk is nearly $200 billion richer than Jeff Bezos, and personally worth more than Costco, after adding $63 billion to his fortune in...
Cedi expected to be biggest beneficiary from smooth elections
The cedi could be one of the biggest beneficiaries as a result of the smooth elections.Former President, John Mahama emerged the winner of the...
NPP borrowed more than GHS1 trillion between 2017 and 2024 NOT GHC 622 billion
Claim: X user @scottbolshevik claims that from 2017 to now, Ghana has borrowed over GHC 622 billion, with the Bank of Ghana illegally printing GHC...
CBG resumes forex trading
Consolidated Bank Ghana (CBG) has resumed its foreign exchange trading operations following the restoration of its licence by the Bank of Ghana (BoG).The Central...
Misleading! Mahama didn’t leave office with debt-to-GDP ratio at 56%, inflation at 15%, unemployment rate at 8%
Claim 1: A Facebook user claims John Mahama, the NDC 2024 flagbearer, left office on January 6, 2017, when Ghana’s debt-to-GDP ratio was 56%. Verdict: False!Explanation
Data from...
False! Ghana 7th not 3rd, most food-secure African country
Claim: At the final rally of the New Patriotic Party (NPP) on Dec. 5, 2024, the flagbearer, Dr Mahamudu Bawumia, said: “If you ranked...
GN Bank will bounce back after election – Dr Nduom assures customers
Dr Papa Kwesi Nduom, the Chairman of Group Nduom (GN), despite his age, led a peaceful two-kilometre march on a sunny Monday afternoon to...
MoMo transactions hit 728m, valued at ¢298.6bn
Data from the Bank of Ghana (BoG), shows a significant rise in mobile money transactions, highlighting the growing acceptance of digital financial services across...
Elmina residents threaten gov’t with the wrath of their gods over collapse of Nduom’s businesses
Some residents of Elmina in the Komenda Edina Eguafo Abirem (KEEA) Municipality of the Central Region have issued a stern one-week ultimatum to the...
Pan-African Savings and Loans supports Ghana Blind Union with borehole
Pan-African Savings and Loans (Pan-African), as part of its Corporate Social Responsibility (CSR) initiatives, has donated a borehole to the Ghana Blind Union.This donation...