The Bank of Ghana in 2015 raised the minimum paid-up capital requirement of all rural and community banks in Ghana from GH¢300,000 to GH¢1million. All the 141 rural and community banks were expected to raise their paid-up capital to GH¢500,000 by December 2016 and GH¢1million by December 2017.
As at...
After an unsuccessful move to enter the Ghanaian market some three years ago, American businessman and financial expert Bob Diamond has told the B&FT he has not abandoned his plans, as he considers Ghana a very viable business destination.
“Our plans have always been to invest in 10 to 15...
The various electronic payment options available to bank customers makes money at the bank almost the same as money in your pocket, that is according to the Chief Executive Officer of Ghana Interbank Payment and Settlement Systems (GhIPSS) Archie Hesse.
He said the days when people shied away from keeping...
The Payment Systems Oversight report by the Bank of Ghana (BoG) shows the value of mobile money transactions as of December 2016 reached GH¢78.5billion, indicating a 121.5 percent growth compared to the GH¢35.4billion recorded over the same period in 2015.
The report also shows that the number of registered mobile...
A lecturer at the Ghana Banking College and CEO of Universal Capital Management, Dr. Richmond Atuahene, has said the new minimum capital required of banks partly explains why they did not lap up the ESLA bond.
As of Friday, October 30, which was supposed to be the deadline for subscription...
The Court of Appeal has dealt another blow to the International Finance Corporation (IFC) and the OPEC Fund after the two had sought to block an Accra High Court from looking into the substantive case of a suit brought against them by Quantum Oil Terminals.
The Accra High Court had...
Fidelity Bank has made five more lucky customers of the bank 10x richer in the third draw of the Fidelity 10x Richer Promo held at Takoradi in the Western Region bringing the total number of winners so far to 15 customers.
The five lucky customers are Esther Okuto of the...
The Global Competitiveness Index 2017-2018 report by the World Economic Forum indicates that access to finance difficulties, high taxes, and corruption are the three-leading challenges confronting the private sector in Ghana.
The data, which ranks on a scale of 0-20, assesses the 16 most problematic factors confronting businesses in all...
The central bank has begun stakeholder engagements toward establishing an apex body for the problematic microfinance sector, in the likeness of the ARB Apex Bank which regulates rural and community banks.
In the wake of the DKM and other scandals, some players in the sector have been telling the B&FT...
Mr. Jai Mirchandani, Chief Executive Officer of Avnash Industries Ghana Limited - the country’s most formidable agro-industrial processing company, has said it is ready to invest over US$100million into government’s One District, One Factory (1D, 1F) policy to ensure its success.
“We are investing over US$100million from next year. I...