Banking

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...

Gov’t blocks pension funds from offshore investment on currency concerns, sources say

Government is clamping down on private pension fund managers who want to invest in offshore assets on concerns it could worsen pressure on its...

CBG speaks on BoG’s suspension of forex trading license

Consolidated Bank Ghana (CBG) has assured the public that the suspension of its Foreign Exchange License (FEL) does not impact its full banking operations.The...

BoG suspends CBG’s forex trading license

The Bank of Ghana (BoG) has suspended the foreign exchange trading license of Consolidated Bank Ghana (CBG) for one month.The suspension, which takes effect...

Bitcoin tops record $80,000 as Trump nears sweep of US Congress

The price of bitcoin has risen above $80,000 (£62,000) for the first time ever, after Donald Trump's decisive victory in the US election last...

Gov’t has never been broke until DDEP – Alhassan Andani

Former Stanbic Bank CEO Alhassan Andani expressed profound disappointment over Ghana’s recent financial trajectory, saying the government’s declaration of the Domestic Debt Exchange Programme...

BoG to appeal court ruling on CDH Savings and Loans license revocation

Following a recent High Court decision reversing the Bank of Ghana’s (BoG) revocation of CDH Savings and Loans’ license, a BoG source has confirmed...

High Court overturns BoG’s revocation of CDH license, orders arbitration

An Accra High Court has overturned the Bank of Ghana's (BoG) 2019 decision to revoke the operating license of CDH Savings and Loans Company...

ADB temporarily closes Bawku branch amid rising security concerns

The Agricultural Development Bank PLC (ADB) has announced the temporary closure of its branch in Bawku, citing escalating security concerns in the area.In a...

Stanbic Youth Banking Proposition launched

As part of efforts to meets the needs of the youth, Stanbic Bank Ghana has launched a Youth Banking Proposition in Accra.This is a...

Don’t panic; BoG has adequate reserves to support cedi – Finance Minister assures businesses

Finance Minister Dr Mohammed Amin Adam has reassured businesses and market stakeholders, stressing that the Bank of Ghana (BoG) holds sufficient dollar reserves to...

T-bills auction: Gov’t records oversubscription but at expense of rising interest rates

The government oversubscribed about 11% of its treasury bill sales for the third consecutive week.However, it came at the expense of rising interest rates.According...

Phase 2 of DDEP had relatively low impact on 2023 audited financial performance – BoG

Phase 2 of the Domestic Debt Exchange Programme (DDEP) had a relatively low impact on the 2023 audited financial performance of banks, then Bank...

BoG amplifies Africa’s fiscal policy support from IMF, World Bank

Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has called for increased support for reforms by the International Monetary Fund (IMF) and...

ADB strengthens CSR commitment as it makes significant gains

The Agricultural Development Bank PLC (ADB) has doubled its commitment to Corporate Social Responsibility (CSR), recording significant gains in its unaudited statement of financial...

Ghana to record end-year inflation of 15.0% in 2024 – IMF

Ghana is expected to record an average inflation of 19.5% in 2024, the International Monetary Fund (IMF) has revealed.In its World Economic Outlook, it...

2024 elections will not cause panic withdrawals – GAB allays fears

The Ghana Association of Banks (GAB) says the upcoming elections will not have any impact on deposits in the financial sector.The GAB has ruled...

IMF warns world to avoid global trade war

The world economy could contract by the size of the combined French and German economies, if there is a broad-based trade war between the...

Next of Kin of a deceased bank account holder is not automatic beneficiary – BoG

Did you know that if you are made the next of kin of a bank account by a friend or relative, you do not...

Ghana Association of Banks offers 7 proposals to tackle fraud in the financial industry

The Ghana Association of Banks (GAB) has rolled out a set of measures to bolster the banking sector’s defenses against increasingly complex fraud schemes.This...

Kwahumanhene resigns as ADB Board Chair following extortion allegations

The Kwahumanhene, Daasebre Akuamoah Agyapong II has resigned as the Board Chairman of the Agricultural Development Bank (ADB).The resignation which takes immediate effect follows...

Does Ghana’s monetary policy rate predict outcome of presidential elections?

The Monetary Policy Rate (MPR) is a key tool used by central banks to control inflation and influence the cost of borrowing in an...

Implementation gaps hinder business climate in 50 economies – World Bank

Economies do better at enacting regulations to improve the national business climate than they do in providing the public services needed to secure actual...