Banking

Court ‘throws out’ Ato Essien’s motion to renegotiate GH¢60million payment 

The High Court in Accra has rejected an attempt by the founder of the defunct Capital Bank, William Ato Essien, to renegotiate a GH¢60...

Many banks facing severe financial crisis – Ato Forson

Minority Leader, Dr Cassiel Ato Forson, has expressed concern about the current state of the banking sector in the country, especially the impact of...

IMF deal: We intend to take investor community across Jordan – Ofori-Atta

Finance Minister, Ken Ofori-Atta, says the government is committed to ensuring that the country and the investor community will be able to sail through...

Beige Bank was a cash cow — Witness

Another prosecution witness in the trial of the former Chief Executive Officer (CEO) of the erstwhile Beige Bank, Mike Nyinaku, will on Monday, April...

Nine banks could be insolvent from impact of domestic debt exchange – Report

If the International Financial Reporting Standard (IFRS) nine is applied in a stricter sense, nine Ghanaian banks could be insolvent from the impact of...

BoG, Ghana Air Force commission helipad to airlift currencies to Sefwi Boako

Following the accident of a Bank of Ghana Bullion Van in November 2019 at Techiman, in the Bono East Region, Management established a committee...

Defunct Beige Bank CEO’s trial adjourned over misunderstanding with lawyer

The Economic and Financial Crime Division of the High Court in Accra has adjourned the trial of former Chief Executive Officer of defunct Beige...

Beige Bank case: Witness gives evidence on ‘fictitious deals’

Julius Ayivor, a witness in the ongoing trial of Michael Nyinaku, Chief Executive Officer (CEO) of the defunct Beige Bank, has provided insights into...

Exim Bank retrieves ¢48m debt owed by commercial banks

The Ghana Exim Bank says it retrieved over ¢47 million owed by various commercial banks between 2009 and 2022.According to the development bank, the...

Don’t jail me if I fail to pay GH₵20m in April – Ato Essien appeals

Founder of defunct Capital Bank, William Ato Essien, says he should not be jailed if he fails to pay GH₵20 million to the state...

Court remands accountant over ¢69k fraud

An Accra High Court has remanded a 45-year-old accountant, Fredrick Wundowah, for defrauding a trader to the tune of GH₵69,000.00.Mr Wundowah allegedly collected...

IMF presses Ghana to stop borrowing from its central bank

The International Monetary Fund (IMF) is pushing Ghana’s cash-strapped government to stop borrowing from its central bank, according to people familiar with the matter.The...

Zenith Bank Ghana ceases operations as Trustee in securities industry and capital market

The Securities and Exchange Commission (SEC) has announced that Zenith Bank Ghana has voluntarily ceased to operate as a Trustee in the securities industry...

Minority calls for immediate suspension of Debt Exchange Programme

The Minority in Parliament has called for the immediate suspension of the government's Domestic Debt Exchange (DDE) Programme.To the Caucus, the programme has...

I cannot bear to watch the indignities being visited on my former employees – Nduom

The Chairman of Groupe Nduom, Dr Papa Kwesi Nduom, has alleged that the National Pensions Regulatory Authority (NPRA) is treating his former employees unfairly....

Beige Bank case: Court to conclude Case Management Conference today

Founder and CEO of the defunct Beige Bank, Michael Nyinaku, is expected back in court today, January 11, 2023, as the court is set...

MASLOC trial: Court sends fresh message to Alex Mould

The High Court in Accra has given a 26-day grace period to former Chief Executive Officer (CEO) of Ghana National Petroleum Corporation, (GNPC), Alex...

Databank customers threaten to burn down company

Some disgruntled clients of Databank have threatened to attack the company for failing to honour withdrawal requests.Chief Executive Officer of the firm, Kojo Addae-Mensah,...

Data Bank shuts down office due to attacks and threats

Investment and fund management firm Databank has announced the closure of its offices effective Thursday, December 22, and to work remotely following attacks and...

Cedi continues recent gains; 1$ now ¢9.2

The Ghana cedi continued its recent gains against the US dollar and the euro today, December 19, 2022.This is coming after recording its biggest...

Ecobank ends ‘Deposit more and win big promo’; rewards several customers

Ecobank Ghana has held its third and final draw of the Deposit More & Win Big promo series, here in Accra, rewarding thousands of...

Court accepts Ato Essien’s GH¢90m repayment terms

An Accra High Court has accepted the GH¢90 million repayment terms on the founder of Defunct Capital Bank Ato Essien’s restitution deal.This comes...

IMF reaches $3bn Staff-Level agreement with Ghana

The International Monetary Fund (IMF) has reached a staff-level agreement with Ghana on economic policies and reforms to be supported by a new three-year...

Capital Bank trial: We cannot be compromised – Deputy Attorney-General [Video]

https://www.youtube.com/embed/LkoyrM2J8XYDeputy Attorney-General, Alfred Tuah-Yeboah, says the office has not been compromised in the ongoing trial of the founder of the defunct Capital Bank, William...

Ghana suffers 7 downgrades from 3 credit ratings agencies in less than 11 months

The current Moody’s downgrade of Ghana’s long-term sovereign bonds to further junk territories brings the total number of downgrades and revisions to seven in...

Ato Essien’s fate hangs as court rules on his case today

An Accra High Court is expected to give judgement in the criminal trial of founder and former Chief Executive Officer of defunct Capital Bank, William...

Moody’s downgrades Ghana to further junk status, warns investors could lose in debt restructuring

Moody’s has downgraded the Government of Ghana’s long-term issuer ratings to Ca from Caa2 or further junk status and changed the outlook to stable.This...

BoG supports govt to refinance ¢2.83bn 5-year bond

The Bank of Ghana (BoG) supported the government to refinance ¢2.83 billion 5-year bond expected to have matured yesterday November 28, 2022.Joy Business is...

Policy rate hits 27%; loans to become more expensive

The Bank of Ghana has increased its policy rate by 2.5 percentage points to 27%, citing risks to inflation and exchange rate concerns as...

Court sets date to rule on Ato Essien’s case

An Accra High Court would on December 1, 2022, give judgement in the criminal trial of founder and former Chief Executive Officer of defunct...

Qnet dissolved: A-G to go after other firms

The Commercial Division of the Accra High Court has ordered the dissolution of Quest Net Limited (QNET) for engaging in dishonest, illegal and fraudulent...

BoG revokes licences of 2 forex bureaus

The Bank of Ghana (BoG) has revoked licences of Airport City Forex Bureau within the Atlantic Tower Building and Trade House Forex Bureau at...

NDK moves to settle GH¢1.2b locked-up funds

Finance house, NDK Financial Services, has said it is working to settle a GH¢1.2 billion indebtedness to depositors who have their funds locked up...

Lemonade Finance names Delay, Dumelo and Dr Likee as brand ambassadors

Lemonade Finance, a cross-border payment solution that enables Africans in the Diaspora to send money back home, has announced Deloris Frimpong Manso , John...

Former Groupe Nduom workers appeal for release of Provident Fund

Former workers of the defunct Groupe Nduom (GN) Savings and Loans Limited have appealed to the government to facilitate the immediate release of their...

Cedi depreciation: Over 70 ‘black market’ dealers arrested [Video]

https://youtu.be/MzVBnFRR2e8A joint operation by the Bank of Ghana (BoG) and the Ghana Police Service has led to the arrest of over 76 illegal foreign...

British pound falls to its lowest level against dollar since 1985

The British pound on Wednesday (7 September) plummeted to its lowest level against the U.S. dollar since 1985.Sterling fell to US$1.1407 in afternoon trade...

Papa Kwesi Nduom fills eyes of Ghanaians with tears

Chief Executive of Groupe Nduom, Dr Papa Kwesi Nduom, has left social media users in tears with his latest post on his grace to...

From university ‘money exchange agent’ to CEO – The story of FXKudi’s Abioye Oyetunji

Economic and societal challenges in Africa are everyday phenomena that continue to beg for answers.Taking an initiative to get any of the...

We haven’t printed ¢22.04bn to support govt’s budget – BoG

The Bank of Ghana (BoG) has dismissed claims by the Minority in Parliament that it has printed ¢22.04 billion to finance government’s budget.In a...