Some cryptocurrency operators have welcomed the Bank of Ghana’s stance on the use of digital currencies saying it will protect users from fraud. The Co-Founder of Crypto Ghana, Bernard Owusu Mensah explains that the announcement will however least affect organisations like his that engage in the trading of digital currencies. The Bank of Ghana has …
Month: January 2018
Some Economists have described as unsuccessful, the NPP government’s debt management strategy within the first year of its administration. In their views, the government must do more if it is to reduce the country’s debt burden going forward. The comments follow the latest Bank of Ghana report which shows that Ghana’s debt has reached 138.8 billion …
Ghana’s imports have dropped marginally between 2016 and 2017, figures from the Bank of Ghana have shown. The country’s imports declined from 12.9 billion dollars in 2016 to 12.7 billion dollars in 2017. This translates into a drop of 1.7 percent within the one year period. Total exports also reached 13.7 billion dollars from 11 …
The cedi’s losing streak against major trading currencies continues on the foreign exchange market. Even though there is an indication of a marginal improvement in the cedi’s performance, the currency is still struggling to stabilize against major ones. According to the Bank of Ghana, between May and December 2017, the cedi depreciated by 3.4 percent …
MTN, Africa’s biggest mobile operator, is gunning to become Africa’s biggest bank. The ambitious business strategy was revealed by MTN CEO Rob Shuter yesterday during the Deloitte Africa in 2018 Outlook conference in Woodmead. The company is encouraged by the progress made by its Mobile Money offering in other geographies that it operates in. This is despite …
The Monetary Policy Committee (MPC) of the Bank of Ghana has maintained the policy rate at 20 percent. The decision was announced at the media briefing to conclude the MPC’s annual meetings on Monday, January 22, 2018. The MPC last year (2017), reduced the policy rate by 550 basis points. In 2017, the figure went …
In 2018, we look forward to new opportunities for business development in Ghana. However, we are also concerned about significant challenges that the key stakeholders need to address. Our team at JCS Investments has identified five themes that should be at the forefront of conversations this year. We believe that some of these challenges require …
In an effort to reinforce its competitive urge and consolidate growth, the Kintampo Rural Bank Limited has initiated steps to roll out a number of electronic banking products in 2018. The bank has procured three ATM machines, ready for installation at its headquarters at Kintampo, in the Brong Ahafo Region, and two other branches at …
The Annual Percentage Rates (APR) and Average Interest (AI) report for December 2017 released by the Bank of Ghana have shown that the lending rate to the agriculture sector remain high, as it hit 31.1 percent at the close of 2017. The report shows that out of the 31 commercial banks in the country, 13 …
Government missed out on its inflation target for year 2017 by 0.6 percentage points, ending the year with 11.8 percent against a target of 11.2 percent, the Ghana Statistical Service’s (GSS) December release has shown. The figure also represents a 0.1 percentage point rise over the 11.7 percent recorded in November 2017. Also compared to …