The economy grew by 5.6 per cent year-on-year in the third quarter of 2019, slower than the 7.4 per cent growth recorded in the third quarter of 2018, provisional figures from the Ghana Statistical Service (GSS) have indicated. The value of the economy, including oil, as measured by the Gross Domestic Product (GDP) at constant …
Month: December 2019
Global payment technology company, Visa, is targeting Small and Medium Enterprises (SMEs) to push its financial inclusion initiatives in Ghana. Country Manager for Visa Ghana, Adoma Peprah, said Visa recognises the important role SMEs play in building an economy, the reason it is focusing on the sector to push its financial inclusion drive. “Visa’s vision …
The Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) in collaboration with eTranzact, has launched a local payment card “gh-link EMV prepaid and debit card” as part of government plans to promote a cashlite economy. The gh-Link prepaid and debit cards have multichannel capabilities, enabling card holders to use a payment channel that is most …
The International Monetary Fund (IMF) has expressed concern about Ghana’s current status as a country at high risk of debt distress – a reference to countries where debt sustainability analyses (DSAs) show protracted breach of debt and debt service thresholds. The concern was contained in a statement issued on December 12 and followed the release …
Attempts by some persons in the Northern Region who are into poultry farming to introduce quail farming to boost the consumption of its protein-rich meat and medicinal eggs, has hit a snag. More than eighty farmers who ventured into the project, say there is no market for the bird and its products in Ghana. The …
Inflation shot up by 0.5 per cent in the month of November to reach 8.2 per cent, the highest since the rebased Consumer Price Index three months ago. According to the Ghana Statistical Service, Alcoholic Beverages, Tobacco & Narcotics (13.4%) and Transport (12.3%) were the divisions with the highest rates of inflation. But due to …
Available data from the Bank of Ghana indicates that banks in the country charged as low as 14 percent as interest for loans given to households from January to October this year. 42 percent also happens to be the highest interest rate charged for loans given to households over the same period. These were captured …
The Head of Currency Management at the Bank of Ghana, John Gyamfi, says the Central Bank for the foreseeable future will continue to print Ghana’s currency notes with well-proven and trusted international companies as local companies lack the capacity to execute such jobs. The comment follows the revelation that the newly introduced GH¢200 and GH¢100 …
GCB Bank Limited has introduced a product, G-Money, an industry first mobile wallet service. This comes after the bank was given approval by the Bank of Ghana (BOG) on November 25 this year to create electronic value backed by equivalent cash to serve customers. G-Money, which is the first of its kind to be operated …
Barclays Bank, a market leader in agribusiness lending, says agriculture will continue to be an important focus area as it changes its name to Absa in February 2020. The 2017 Best Bank in Agribusiness Finance in the Rice, Maize and Soya value chain currently provides financing that benefits agribusinesses and smallholder farmers. Barclays recognises agriculture …