Introduction to Correspondent Banking
Correspondent banking may sound like a term straight out of a financier’s dictionary, but its implications ripple through the entire economy, touching the lives of both businesses and individuals. Essentially, it’s the process by which banks provide services to each other, including cross-border transactions and large-scale...
GCB Bank has begun the instant issuance of both proprietary cards and international cards across all its branches nationwide.
Now GCB customers can apply for and receive VISA Cards, Mastercard and GCB ReadyCash cards across all GCB branches instantly. The Bank will also begin instant issuance of Union Pay International...
Though the COVID-19 Alleviation and Revitalisation Enterprises Support (CARES) programme is a very good initiative, the financing model raises questions about its sustainability, hence the phases must be implemented slowly, Director of the Institute of Social, Statistics and Economic Research at the University of Ghana, Professor Peter Quartey, has...
The results of Ghana’s COVID-19 Business Tracker Survey has demonstrated the coronavirus pandemic’s impact on businesses and jobs. The findings reveal that an estimated 30,000 businesses were closed during the country’s partial lockdown in Accra and Kumasi, and 85,000 businesses remained closed nationwide after the lockdown. In addition, the...
The essence of this article is to draw the attention of key stakeholders in the political economy of Ghana, more importantly, to have an intellectual discourse on the recent trend of monetisation in our body politics.
The politics of monetisation, for the purposes of this article is the practice whereby...
In many African countries including Ghana and around the globe, plastics play a very important role in the economic lives of people due to its durability, potability and affordability. Plastics play a significant role in transporting Ghana’s indigenous goods. Indigenous food products like ‘‘waakye’’ and ‘‘kenkey’’ are no exceptions....
Nana Addo Dankwa Akufo-Addo has been sworn in as President of Ghana, following few weeks after he was declared winner of the 2020 presidential election.
This is the second term of president Akufo-Addo after serving a four year term from January 2016 to 2021.
Taking the presidential oath of office and...
Countries may ban the exportation of certain commodities from time to time. It is not an altogether uncommon thing to do, and it may occur for several different reasons.
The length of time a commodity may remain banned is entirely relative to the reason or reasons it was banned for,...
A shopping spree in Lagos can turn into a windfall sale in Accra, thanks to a wave of unauthorized imports fueled by Nigeria's plummeting Naira.
Entrepreneurs, dubbed "clandestine traders," are exploiting the currency disparity to smuggle everything from detergent to noodles across porous West African borders.
Maverick Research’s source of origin...
Ghana Rubber Estate Limited (GREL) could lose €550,000 of investment made on their plantation from 2010 to 2020 if illegal miners, or ‘galamsey’ operators, are not driven away from the company’s concession.
Perry Acheampong, Corporate Affairs Manager of GREL, told B&FT in an interview that should the concession be lost,...