Microfin Rural Bank (MRB) is currently working with a fintech to roll-out innovative cashless products and services whilst deepening its technological platforms as part of the shift towards aggressive digitisation. The bank currently operates a fully electronic loan management system which has significantly reduced the turnaround time for loan appraisals, approvals and disbursements. According to …
Month: December 2020
Dr Ernest Addison, Governor of the Bank of Ghana, has hinted of plans to undo all countercyclical measures implemented in the financial sector due to the COVID-19 pandemic to allow for the proper functioning of the system. He has, therefore, charged banks to remain vigilant, upgrade staff capabilities, and improve the governance and risk culture …
Ghana’s economy contracted again for the second consecutive period (-1.1%) this year, but at a lower rate than in the second quarter. This is however compared with a Gross Domestic Product (GDP) growth rate of 5.6% the same period last year. The contraction of the economy in the third quarter is largely due to the …
Ghana’s Foreign Direct Investment (FDI) is expected to exceed one billion dollars, Mr. Yofi Grant, the Chief Executive Officer of Ghana’s Investment Promotion Centre (GIPC) has said. He explained that although countries around the world are now looking inwardly to develop their economies following the outbreak of the coronavirus pandemic, Ghana’s FDI remains attractive. He …
THE Professor of Finance at the University of Ghana Business School (UGBS), Legon, Prof Joshua Yindenaba Abor, has urged African governments to reinforce efforts at attracting private capital as part of strategies to drive financial inclusion to desired levels. “Appropriate measures are needed to attract more private capital flows, while being mindful of specific characteristics …
Ghana’s central bank and the Monetary Authority of Singapore (MAS) have signed a Memorandum of Understanding (MoU) to collaborate in promoting Small and Medium-sized Enterprises (SMEs) through the use of technology. In a press statement, the Bank of Ghana said the agreement was signed on December 8, 2020, and is a follow up to earlier …
The year-on-year rate of inflation slowed for the fourth consecutive month to 9.8 percent in November compared with 10.1 percent the previous month. Professor Samuel Annim, the Government Statistician, who announced the rate, said the drop was the fourth consecutive monthly fall post-COVID-19. Month-on-month inflation was 0.3 percent, he said. The food inflation rate stood …
Investors are hoping that the incumbent, President Nana Akufo-Addo, will retain his position in order to sort out Ghana’s fiscal challenges by winning a second term in Monday’s election. A As at Tuesday, December 8, the votes were still being counted but the incumbent president had a slight lead. The New Patriotic Party’s Akufo-Addo faced …
The prestigious Banker Award has honoured Access Bank Ghana with the global Financial Inclusion award at the 2020 ‘Bank of the Year’ Awards virtual announcement in London on December 2. The Financial Times owned magazine’s annual awards are regarded as the industry standard for banking excellence. Competing against other global banks, Access Bank received the …
Professor Aba Bentil Andam, a Physicist, has advised women in the Energy sector to refrain from giving excuses when given heavy tasks, if they wanted level-playing field. The level-playing field, includes; attaining leadership positions and playing a pivotal role in an organisation’s decision making processes. Such excuses include; maternal, personal, health and family issues that …