Sunday, June 26, 2022
  Outspoken financial analyst Kenneth Thompson is predicting scarcity of cash in the economy next year, despite the optimistic tone of government in the 2018 budget. Alluding to the budget’s allocation of more than 80 percent of revenue to the payment of salaries and interest on loans, Mr. Thompson noted that...
In a move to drive its growing customers to its efficient and convenient digital platforms, the leadership and staff of Ecobank spent a day with business leaders, workers and customers at the nation’s biggest spare parts market, Abossey Okai. As it embarks on an aggressive campaign to promote a cash-lite...
The President of the African Development Bank Group (AfDB), Akinwumi Adesina, has launched the Presidential Youth Advisory Group (PYAG) to provide insights and innovative solutions for job creation for Africa’s youth, as outlined in the Bank’s Jobs for Youth in Africa Strategy (JfYA). The Jobs for Youth in Africa initiative...
Though Ghana’s economy has improved over the course of 2017, it registered gross domestic product growth of just 3.5% in 2016, its lowest level in two decades. But if the market as a whole was depressed over this period there is little evidence that it troubled the 2017 country winner,...
2017’s GITTA “Digital Bank of the Year” award winner, Guaranty Trust Bank (Ghana) Limited has concluded the full integration of Ria Money Transfer’s Direct to Bank Account service, which allows senders to have funds directly credited to beneficiaries of GTBank accounts in as little as 15 minutes. The service also...
Dr Ernest Kwamina Yedu Addison, the Governor of the Bank of Ghana (BoG), has bemoaned the low credit facility extended to small and medium-scale enterprises (SMEs) and the agricultural sector by banks and urged financial institutions to develop innovative products for the two sectors. He said as at September this...
The central bank has endorsed plans by government to merge the operations of ADB and the National Investment Bank (NIB) to meet the new GHS400 million minimum capital requirement. Dr. Ernest Addison told the press on Monday that he sees nothing wrong with government’s plans to merge the operations of...
The economy does not need another development bank along the lines of the Agric Development Bank (ADB) and the National Investment Bank (NIB), Kenneth Kwamena Thompson of Dalex Finance has said. Reacting to government’s intention to set up a “national development bank” to “mobilise private capital toward agricultural and industrial...
As though the 550-basis points cut seen in 2017 was not enough, South African-based RMB Research believes the central bank has more wriggle room to further trim its policy rate by between 200 and 300 basis points in 2018, which could trigger aggressive lending rate cuts. In its reaction to...
Galaxy Capital Limited, the investment subsidiary of the Galaxy Group is in a good position to meet the stated capital requirement to be announced by the Securities and Exchange Commission (SEC). Chief Executive Officer of Galaxy Capital, Samuel Bright-Kaitoo applauded the SEC for the recapitalization move, noting that the resultant...
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