The Bank of Ghana (BoG) is setting a number of targets that will boost financial inclusion in the short term. Among the set, targets are an Enhanced Credit Information Sharing System by 2022 and the development of an Agent Registry by 2021. Others are the launch and implementation of sustainable banking principles by 2022, as …
Month: June 2020
International impact investor, Investisseurs & Partenaires (I&P), says it is looking forward to supporting more Small and Medium Scale Enterprises (SMEs) that are vital to Ghana’s long-term economic growth. The firm has invested 3 million euros in a leading private healthcare provider, New Crystal Health Services (NCHS), to make quality healthcare accessible and affordable to …
The year-on-year inflation rate increased to 11.3 per cent in May up from 10.6 per cent in April on food prices. The rate rose by 0.7 percentage points from the 10.6 per cent recorded in April Professor Samuel Annim, Government Statistician, said on Wednesday. The month-on-month inflation between April 2020 and May 2020 was 1.7 …
Licenses of some fund management companies which were revoked in 2019 will be restored by the Securities and Exchange Commission soon. This was revealed by the Commission’s CEO, Rev. Daniel Ogbamey Tetteh when he appeared on Citi FM’s morning show on Tuesday. According to him, some of the firms in question appealed the revocation of …
The Ghana National Canoe Fishermen’s Council and eight NGOs have called on President Nana Akufo-Addo to intervene to end the damaging illegal fishing practice known as ‘saiko’. This practice, according to them in an open letter sent to the president, is driving crucial fish stocks to the point of collapse and endangering Ghanaian livelihoods, nutrition …
The Bank of Ghana is working on establishing a sandbox to promote innovation in the financial market and also test some concepts including the establishment of a Central Bank Digital Currency. First Deputy Governor, Dr Maxwell Opoku-Afari, who was speaking at a Virtual Stakeholder Workshop on Payment Systems and Service Act in Accra, said there …
Government’s monetary policy interventions aimed at easing the negative effects of coronavirus on the economy seems risky and might become a liquidity trap because of weak investor sentiment and a slowdown in economic activity, Dr. Jerry Kombat Monfant – a global strategist and economic consultant, has warned. The Bank of Ghana (BoG), in response to …
To make agriculture attractive to big investors, government must invest heavily in infrastructure that will facilitate farming activities and secure their investments, Director of the Institute of Social, Statistical and Economic Research of the University of Ghana, Professor Peter Quartey has said. His comments come on the back of declining growth in the agriculture sector …