Wednesday, December 8, 2021
The central bank says government’s inability to meet its projected revenue performance poses considerable danger to government’s fiscal consolidation efforts. Revenue and grants performance for the first seven months of the year – GH¢20.8billion is more than GH¢3.2billion short of the GH¢24billion target for the period under review. According to the...
The Controller and Accountant General’s Department (CAGD) has signed a Memorandum of Understanding (MoU) with the Ghana office of the world’s leading accountancy body – the Association of Chartered Certified Accountants (ACCA) – to train its staff on proper accountancy and finance procedures. Speaking to the B&FT after the signing...
Melbond Microfinance, as it marks 10 years of operation, has assured stakeholders including shareholders, customers, staff, management and industry regulators, that its plan in the nearest future is to consolidate its market position as a microfinance company. Kwabena Gyansah, Managing Director of Melbond Microfinance, speaking at a short ceremony to...
Although they are afraid to talk openly, officials of some SME-focused banks are restive about the GH¢400million stated capital increment for banks, saying it could hurt SMEs badly. “Banks like us that want to do SMEs will now be forced to raise capital to do big-ticket or forced to merge,...
Access Bank Plc, the majority shareholder of Access Bank Ghana, which is ranked as one of the top 3 banks in Nigeria and amongst the top 20 banks in Africa by assets and capital, has announced its intention to inject additional capital into the Bank’s operations in Ghana before...
An investment banker has said the recent failure of the two indigenous banks, UT and Capital Banks, puts a dent on the efforts of other local banks seeking to raise funds from investors to meet the Bank of Ghana’s GHS400 million capital requirement. The Head of Investment Banking at Stanbic...
Indigenous banks are in a race against time to increase their total paid-up capital to GHS 400 million before the December 31, 2018 deadline set by the central bank of Ghana. An analysis of the July 2017 paid-up capital, income surplus, and capital shortfall of banks reveals that decade-old major...
Standard Chartered Bank Ghana has taken the convenience of personal banking to a new height by holding an investments seminar for clients to help them make more informed and relevant choices about investments. With a highly-trained staff, the bankers can now identify any structural or tactical gaps in a client’s...
In 2016, Ghana, the second largest gold producer in Africa, and the eighth largest globally, legally produced 96 Metric Tons (“MT”) of gold. On average, Ghana produces approximately 100 MT annually. At April 1, 2017, the Bank of Ghana (“BoG”) Gold Reserve amounted to 8.70 MT, (it has not...
. GH?100million to be invested . Customers to earn T-Bill plus 3 percent interest ASN Financial Services Limited, a licensed Finance House which has been experiencing challenges in its operations, has secured a strategic investor who is expected to invest over GH?100million in the company. Directors of the company, B&FT sources say,...
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