The Ghanaian securities market will soon have credit rating agencies (CRAs), as the Securities and Exchange Commission (SEC) has issued draft guidelines for their operations in Ghana, almost a decade after declaring its intentions. The draft regulations, which were issued this week, will facilitate and standardise the establishment and operation of credit rating agencies in …
Month: May 2021
Banks will soon adopt only the National Identification card as the primary source of documentation for banking transactions. This follows discussions between the banks, represented by the Ghana Association of Bankers, the National Identification Authority and the Bank of Ghana. The discussion is said to have reached an advanced stage and a roadmap on when …
The Securities and Exchange Commission (SEC) on Monday launched its maiden Capital Market Master Plan (CMMP) to serve as the blueprint for the development of the capital market in Ghana for the next 10 years. The Plan is built around a vision discussed and agreed with key stakeholders in the capital market to ensure a …
The central bank has issued guidelines for Rural and Community Banks (RCBs), focused on de-risking that sector of the banking system. According to bank, the guidelines, issued last week, have been designed to provide a framework within which regulated RCBs will establish and embed a culture of risk management in their institutions. Additionally, they will …
The Producer Price Inflation (PPI) fell to 11.1% in April 2021, from 13.0% recorded in March 2021. This reflected the decline in Consumer Price Inflation in April 2020, which fell by 2%. According to data from the Ghana Statistical Service, the month-on-month change in producer price index between March 2021 and April 2021 was -0.1%. …
The African Business Community Development (ABCD) Hub will select the first batch of small businesses into its Accelerated Business Development Institute to participate in an Investment Readiness Program. The ABCD Hub, is gearing up to hold its first pitch event on 5th June, 2021 at the Headquarters of OYA Capital Management, Accra. The event, is …
Contrarily to the hesitation of many banks and financial institutions to advance support to the agricultural sector, the Nsoatreman Rural Bank Limited at Nsoatre in the Sunyani West Municipality of the Bono Region has resolved to prioritise agricultural financing in the 2021 financial year. “The bank has started giving out more agric loans, particularly to …
Consumer inflation dropped by 1.8 percentage points to 8.5 percent in April, driven by a large drop in food inflation, which fell by 4.3 percentage points to 6.5 percent in the month, according to data from the Ghana Statistical Service. Although this indicates that the Covid-induced price hikes from last year continue to ease off, …
The Israeli Trade and Economic Mission in Ghana, in partnership with the Israeli Export Institute, has organised an exclusive event for top management personnel of investment companies and business advisory firms at its maiden VIP Investors Forum, which took place at Dawhenya Greenhouse Village in the Ningo Prampram Municipality of the Greater Accra Region. Participants …
Finance Minister, Ken Ofori-Atta, has revealed that the National Development Bank is set to commence operations by the end of July. Delivering the State of the Nation Address in Parliament on Tuesday, March 9th 2021, the president of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo mentioned that the establishment of the National Development Bank, under …