Virtual Currency: An unregulated digital currency that can be used as a substitute for real and legally recognized currency. Convertible Virtual Currency usually has a measurable value in real money, but what makes it convertible lies in its ability to be exchangeable. Not all virtual currency can be exchanged...
Indigenous banks are in for a tough time as analysis conducted on their latest financial results indicates that they need to raise as much as GH¢4billion to meet the central bank’s GH¢400 million minimum capital requirement.
Out of the 16 Ghanaian-owned banks analysed by financial analyst and credit consultant Emmanuel...
Bank of Ghana (BOG) has announced that, UniBank Ghana Limited (UniBank) has been placed under administration.
The appointment of the official administrator according to the central bank is aimed at saving UniBank from imminent collapse.
The announcement comes just two weeks after uniBank announced a takeover of adb after some shareholders...
Airlines operating flights to and from Accra, Ghana are changing their aircraft in response to increased capacity on the route, demand by passengers for enhanced comfort and improved on-board services, starting a healthy competition that will benefit consumers.
Given the capacity of these aircraft, airlines would have to be creative...
Everyone is talking about the New Normal. Presumably, this New Normal will be our new way of life after several periods of lockdown and other uncomfortable restrictions have been lifted. The New Normal will determine how we eat, how we fly, how we attend funerals and weddings…and even how...
The Institute of Distance Learning at the Kwame Nkrumah University of Science and Technology (KNUST) has inaugurated its Takoradi City Campus at Kansaworodo, a suburb of Takoradi, to enable working class people, in particular, to upgrade themselves academically.
The campus project was financed from the university’s Internally Generated Fund (IGF)...
Even though their umbrella sector – services - remains the largest contributor to GDP in the country, holding 56.2 percent of economic activities, the financial and insurance subsectors saw a drop in their contribution to the economy from 9.4 to 8.8 percent, Ghana Statistical Service (GSS) data have shown.
The...
The Ministry of Local Government and Rural Development (MLGRD) has laid a Legislative Instrument (LI) before Parliament for the creation of 38 districts in Ghana.
The Minister for the MLGRD, Hajia Alima Mahama, was in Parliament yesterday and presented papers seeking the legislative arm of government to allow for the...
A new bill has been laid before parliament to enable the Ghana Revenue Authority (GRA) exchange information with other tax administrations in the world, regarding certain financial accounts of entities or individuals, in a bid to curb tax evasion.
The bill is named Standard for Automatic Exchange of Financial Account...
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...