Microfinance companies in Ghana have been advised to consider merging or risk being collapsed. The Bank of Ghana has raised the minimum capital requirement for financial institutions operating in the country. With regards to microfinance institutions, each of the over 300 institutions are supposed to raise GHc2 million before the end of 2018 or risk …
Month: August 2018
The implementation of the one-district, one-factory project has commenced in four Metropolitan, Municipal and District Assemblies (MMDAs) in the Central Region. The factories, which are at various stages of completion, include a potato processing factory in the Gomoa West District, a block moulding factory in the Awutu Senya West District, a pineapple processing factory in …
Mobile Money vendors in Upper West have urged other telecoms to explore innovative methods of improving their mobile money services to match MTN’s whose services have been rated as dependable, prompt and superior. The vendors said due to the superior quality services MTN rendered many customers were shifting their grounds and rushing to make deposits …
Inflation for the month of July fell from 10 percent to 9.6 percent. This represents a 0.4 percentage decrease. Inflation measures the change in the general price level of goods and services over time. Speaking at a press conference, the acting Government Statistician, Baah Wadieh said the drop was due to the food component in …
This story from Uganda holds great lessons for Ghana that I believe culling it from the Monitor of Uganda and relating it to the progress we have made in Ghana is very important. Over the last 18months, there has been a consistent attempt by many Governments within Sub Saharan Africa to tax mobile money and …
Management of Bosomtwe Rural Bank has increased its dividend payment by 42.33 per cent from 663,715.68 Ghana in 2016 to 944,695.64 Ghana cedis as of last year. This means for a share price of ten pesewas, a shareholder gets 4 pesewas on it which is 40 per cent return to the shareholder in the face …
The rural and community banks have a key role in making a positive contribution toward reduction of poverty. They also act as one of the key channels to distribute funds to businesses in their localities and encourage the spread of sound entrepreneurial activity. It is believed that rural and community banks (RCBs) can play a …
The Managing Director of ARB Apex Bank, the regulator for the sector, Kojo Mattah has hinted of plans to list some of these banks on the Ghana Alternative Exchange (GAX). Speaking to JoyBusiness, he said the Apex bank was in talks with the Securities and Exchange Commission and other allied agencies to list some of …
The Bank of Ghana has consolidated 5 banks into what it calls the Consolidated Bank Ghana limited. The banks are Beige Bank, Construction Bank, Royal Bank, uniBank and Sovereign Bank. This means that the banks are merged. According to the Governor of the Bank of Ghana, Dr. Ernest Addison, some of the banks obtained their …