The Bank of Ghana (BoG) has directed Banks and Specialized Deposit-taking Institutions (SDIs) to desist from the payment of facilitation/business development fees or any other fees to attract deposits henceforth. The Central Bank said any institution which fails to comply with this notice shall be severely sanctioned. In a public notice, the Bank of Ghana …
Month: August 2019
Investors have been dumping South African government bonds at a rate of almost 2 billion rand ($132 million) a day in August. With issuance increasing and a downgrade to junk a looming possibility, non residents have sold a net 14.4 billion rand of the debt in August so far, according to JSE Ltd. data compiled …
Panellists and participants in the Graphic Business -Stanbic Bank Breakfast Forum have made a strong case for the establishment of a national equity fund to pool patient and low-cost funds for small and medium enterprises (SMEs) to use in unlocking their potential into global giants. They said although SMEs were the future of entrepreneurship and …
AS part of its export development strategy, Ghana will continue to harness existing and potential opportunities to grow its export base in the non-traditional export sector (NTEs). One of such opportunities to be leveraged is the hosting of the secretariat of the Africa Continental Free Trade Area (AFCTA), and also winning the bid to host …
The United Nations Development Programme (UNDP) in collaboration with Vodafone Ghana Foundation has launched a digital financial inclusion project in the Upper East Region to boost poor rural women access to formal financial services and to increase economic production. The two-year project dubbed, “bringing informal to formal through technology”, seeks to employ technology as a …
Vice President Dr Mahamudu Bawumia on Tuesday opened the World Business Angels Investment Forum (GBAF) Office in Accra, to empower and finance start-ups, innovators and small-and-medium scale enterprises (SMEs) in the country to scale up. The Office, the first to be established in the West African Sub-region, will interact and engage with a wide range …
The African Development Bank Group has signed a $4.8 million institutional support grant to the African Union (AU) for the implementation of the African Continental Free Trade Area (AfCFTA). The grant, approved by the Group’s Board of Directors on 01 April 2019, forms part of a series of interventions by the Bank in its lead …
The Securities and Exchange Commission is investigating money managers for locking up as much as GH¢5 billion in risky investments they’re struggling to retrieve for clients. The funds are stuck in short-term unlisted bonds, direct private-equity stakes and related-party deals for small- and medium-sized businesses, said Paul Ababio, deputy director-general at the Securities and Exchange …
new mutual fund known as the EcoCapital Prime Fund has been introduced onto the Ghanaian market to help solve some challenges encountered by investors. The EcoCapital Prime Fund is a money market mutual fund designed to help investors interested in short term investment that provided modest returns, with adequate liquidity to solve their investment problem. …