... records 498.53% growth in profit  The Bosomtwe Rural Bank Limited at Kuntanase in the Bosomtwe district of Ashanti Region has recorded a very remarkable operational performance for the 2021 year under review. The bank recorded profit before tax of a little over GH¢2million in 2021 as against GH¢349,692 in the...
Banks have stepped up their game to help quick recovery of the economy from the ruins of coronavirus pandemic, as new data show increased credit support to one of the most pressing areas of the economy - the manufacturing sector. The Statistical Bulletin report (June 2020) indicates that credit to...
The Bank of Ghana (BoG) has firmly rejected assertions that the country has lost US$8billion over the past two years due to Financial Technology companies (FinTechs) and Money Transfer Operators (MTOs) withholding funds. The Bank in a statement sought to address recent media discussions regarding the involvement of Financial Technology...
a risk management perspective (II) “Life is like a piano, the white keys are happy moments and the black keys are sad moments. But remember both keys are played together to give sweet music in life” Hello Readers, last week I started an article on how modernization and branding of...
The Bank of Ghana (BoG) has yet to decide a roadmap for the eCedi roll-out, despite a successful completion of the pilot last year, Head-FinTech and Innovation, BoG, Kwame Oppong, has said. The uncertainty surrounding official introduction of the digital currency, he explains, is due to the crunch economic conditions in...
The local currency continues to maintain its good form over major trading currencies, as data shows it has - for the first time in memorable history - recorded no loss in value for five continuous months against the US dollar: a feat that can be attributed to prudent currency...
A team from the Ghana Fintech and Payments Association GFPA), led by the President paid a courtesy call on the Ghana MicroFinance Institutions Network (GHAMFIN) to among other things discuss issues of interest and potential areas of partnerships and collaborations. During the meeting, the President of the Ghana Fintech and...
The GCB Bank Limited has denied reports making rounds on social media, suggesting that the bank has transferred money amounting to GHS52.5 billion to unknown sources. According to the bank, the false report comes from a doctored letter dated 5th October, 2020 purportedly emanating from the Ghana Audit Service, saying...
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...
Consolidated Bank Ghana (CBG) has strongly denied reports circulating on social media alleging that the bank has been sold. In an official statement released by the bank's management, CBG confirmed that there has been no change in ownership, and the Government of Ghana remains its sole shareholder. The bank emphasised that...