First National Bank Ghana, a subsidiary of the FirstRand Group of South Africa, has announced the introduction of a tailored package for small and medium-scale enterprises in Ghana. The package is intended to help address some major challenges that hinder the growth of SMEs in the country. With this new...
Access Bank continues to drive its financial inclusion objective through initiatives which redefine banking operations in the country. True to its mantra of more than banking, the bank has unveilled a new promotion targetted at children to improve financial literacy from an early age. Riding on the back of the...
Taxpayers want action Depositors want their money On August 14, 2017, Ghanaians woke up to the shocking news that two local financial institutions, UT and Capital Banks, had their licences revoked by the regulator, Bank of Ghana, as their financial statements showed the banks were living dead (insolvent). Then a...
The Ghana Securities Industry Association (GSIA) has noted the Securities & Exchange Commission’s (SEC’s) release on the actions taken on liquidated asset management firms. According to a statement by GSIA, SEC’s release is no doubt timely given the severe distress investors who invested their cash through these firms have been under,...
Technological innovations will be the heart and blood of the banking industry for many years to come and if big banks do not make the most of it, the new players from FinTech and large technology companies surely will. ----David Brear. The new normal is here with us and banks...
As part of its commitment to supporting the Ghanaian economy, the German government, through the KfW Development Bank and Investing for Employment GmbH (IFE), in partnership with Stanbic Bank Ghana has announced an agreement to provide a €6million facility to support SMEs in the country. The initiative is expected to...
Liquidity position improves Reforms introduced to change the bank’s culture The National Investment Bank (NIB) has secured some GH¢800million capital injection from the government to boost its capital position, improve liquidity and position the bank on a path to profitability, a situation last experienced almost a decade ago. Alongside...
The Receiver has said it is working closely with the Economic and Organised Crime Office (EOCO) to locate and retrieve company records or books on some 35 resolved entities in order to validate depositors’ claims estimated to be GH¢252 million. The validation will also enable the Receiver to pay the...
Ecobank Group has announced the winners of its Ecobank Fintech Challenge after an exciting virtual event streamed live from Accra Ghana. Nokwary Technologies, edged out the rest of the finalists to emerge winner of the competition. The first and second runner up spots were taken by Ukheshe Payment and Solutions...
Chief Executive Officer of Republic Investments (Ghana) Limited, Madeline Nettey, has stated that the confidence shown by unit-holders of the respective funds managed by the investment house has been key to the resilience demonstrated in the face of the impact of the financial sector reforms as well as COVID-19. She...