Central banks in major economies expected as recently as a few months ago that they could tighten monetary policy very gradually. Inflation seemed to be driven by an unusual mix of supply shocks associated with the pandemic and later Russia’s invasion of Ukraine, and it was expected to decline...
records impressive growth in all indicators despite DDEP
Amansie Rural Bank PLC, at Antoakrom in the Amansie West district of Ashanti Region, has recorded impressive growth in all financial indicators for the 2022 year under review.
The bank posted a pre-tax profit of approximately GH¢9.8million in the 2022 period under...
Vice President Dr. Mahamudu Bawumia has urged rural banks in the country to take advantage and make adequate use of the digitisation system being established in the country.
He said the National Identification Card and introduction of the digital addressing system will give unique identities to individuals and also assist...
…largest guarantee facility in sub-Saharan Africa
Ecobank Group and the African Guarantee Fund (AGF) have inked a US$200million risk-sharing agreement aimed at propelling economic growth and bolstering entrepreneurial endeavours, particularly for women-owned SMEs, across the continent.
The strategic partnership agreement was signed during the Africa Financial Industry Summit (AFIS) held in...
Zenith Bank (Ghana) Limited has become the first in Ghana to roll out the Eazypay GH Dual Card, combining the e-zwich and Gh-Link functions.
Powered by the Ghana Interbank Payment and Settlement Systems (GhIPSS), the Eazypay Card is accepted on all local bank ATMs, POS terminals and Hybrid terminals on...
The Bank of Ghana (BoG) has said it remains steadfast in its commitment to policy solvency - focusing on managing inflation and ensuring financial stability - despite challenges posed by the Domestic Debt Exchange Programme (DDEP).
Director of Research-BoG, Dr. Philip Abradu-Otoo, made the assurance while insisting that there is...
… to hold rising inflation, falling cedi
The Monetary Policy Committee (MPC) of the Bank of Ghana has - for the first time in recent history - hiked the policy rate by 250 basis points, saying current economic conditions which include fiscal pressures, inflation and exchange rate volatility, among...
Saves GH₵130m after payroll clean-up
11,000 non-existent pensioners deleted
The Social Security and National Insurance Trust (SSNIT) has saved GH₵200million in legacy investment-related costs after undertaking value-for-money audits and ensuing renegotiations, Director-General of SSNIT, Dr. John Ofori-Tenkorang has said.
According to him, the exercise came on the back of...
Central banks are starting to experiment with negative interest rates to stimulate their countries’ economies
Money has been around for a long time. And we have always paid for using someone else’s money or savings. The charge for doing this is known by many different words, from prayog in ancient...
…despite channeling huge resources into gov’t bills
Although data show banks have developed a high taste for lending to government, industry players say the sector is ready to support businesses get back on their feet despite the risk in doing so.
According to the banking sector report (March 2021) published by...