The manufacturing and service sectors, including agribusiness but excluding trade, recorded an estimated GH¢158.4billion financing gap in 2020 - about 40 percent of GDP according to the Minister of Finance, Ken Ofori-Atta. Despite the huge gap, Mr. Ofori-Atta is however confident that it can be plugged by the soon to...
Development bank has been described as a form of financial intermediary providing financing to high priority investment projects in a developing economy. It is a ‘’bank’’ in the business of development. Development bank should protect its own financial position in the pursuit of socio-economic benefits. The main purpose of development...
Formulating the Africa Advocacy Programme (AAP) forms an integral part of the Association of Chartered Certified Accountants’ global corporate strategy, Director for ACCA Africa Jamil Ampomah has said. Speaking during the virtual launch of AAP and inauguration of its Committee Members, Mr. Ampomah said AAP had been created to be a...
Ghanaian banks’ media visibility ranking study conducted by the Institute of Brands Narratives Analysis (IBNA), a strategic media intelligence agency in Accra, revealed that GCB bank topped the IBNA’s ‘Ghana Banks’ Media Visibility Index’ (IBNA-MVI) in the first and second quarters of 2021. GCB Bank was the most visible bank...
As further evidence of its commitment to eradicating financial marginalisation and exclusion, the Chartered Institute of Bankers (CIB) Ghana has partnered with the University of North Carolina (UNC) School of Social Work and Centre for Social Development in Africa (CSDA) to launch the Financial Capability and Asset Building (FCAB)...
Stanbic Bank Ghana has commended Police Constable Prince Fourdjour for exhibiting the highest level of honesty and integrity at a time when virtues and values have become uncommon. On Friday July 2, at about 5:00pm, Constable Prince Fourdjour saw GHS 2,000 disbursed at a Stanbic Bank ATM at the...
Provides systemic liquidity and supports vital supply chains across Africa’s markets
Sustains and increases access to goods and services during the pandemic
Bolsters economic opportunities and inclusive growth, in markets such as Togo, Burkina Faso and Chad CDC Group, the UK’s Development Finance Institution and impact investor, has announced...
Aptivaa Consulting Ltd., a banking risk management and consulting firm, has organised an intensive workshop to train Bank of Ghana (BoG) employees in the International Financial Reporting Standard on accounting for financial instruments (IFRS9), Internal Capital Adequacy Assessment Process (ICAAP) and liquidity management. The move forms part of the financial...
Contrary to some views that the Bank of Ghana is set to introduce crypto currency into the economy, Banking Consultant Nana Otuo Acheampong has explained that the electronic digital currency scheduled to be piloted by the central bank in September is not a crypto currency. According to him, unlike crypto...
Calls for more to be done to reach informal sector
Pledges Finance Ministry’s support to SDIs Specialised Deposit-Taking Institutions (SDIs) in the country, particularly Saving and Loans (S&Ls) companies, are currently operating below their enormous potential for roping-in the vast informal sector, Head of the Financial Sector Division at...