President Nana Addo Dankwa Akufo-Addo says the establishment of the National Development Bank, under the Ghana CARES programme, is to provide support to businesses in Ghana. He said the government expected a boost in economic activities, which were already picking up, following the ongoing vaccination exercise and the easing of restrictions instituted to curb the …
Month: March 2021
The Bank of Ghana last week unveiled new regulations that address the sometimes controversial issue of inactive deposit accounts. Up till now, deposit-taking institutions have been allowed to apply their own definitions of what constitutes a dormant account and what to do with accounts they classify as dormant, and this has sometimes led to disputes …
Lending to women and women-led businesses has always made sense. Data from lenders in developing countries across the world has shown time and again that non-performing loans to women SMEs are consistently lower than in portfolios comprising men and women. In a similar vein, data from leading listed companies in the US and UK has …
The Bank of Ghana (BoG) has issued a directive on unacclaimed and dormant accounts of banks and special deposit-taking institutions. In a statement issued on March 2, 2021, the central bank said the directive is pursuant to Section 92 of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930). The central bank further explained the move …
Information gathered by THE MEDIA indicates many banks are rejecting the new voters and national identification card as form of identification in opening accounts and undertaking transactions. It is however not the fault of the banks as both the voters and national identification cards have not been validated. THE MEDIA checks at some branches of the commercial banks …
One of the newest forms of financing small enterprises and projects – one which is generating huge successes all around the countries that have embraced it – is now about to become formalized in Ghana. The Bank of Ghana last week unveiled the basic frameworks for the two models for crowdfunding that fall under its …