It is safe to say that banks are among the first adopters of digital transformation. Ghana’ banking sector has seen a lot of transformations over the past years. One may attribute this change to the digital drive from the regulator demanding that bank’s standardize their operations and to ensure that customers’ data are protected. Also …
Month: August 2021
The Minister of Finance, Ken Ofori-Atta has inaugurated the Board of the Securities and Exchange Commission at the Ministry of Finance. The reconstitution of the Board was in line with the Securities Industries Act, 2016 (Act 929) as amended. The Board members include Dr. Yeboa Amoa as Chairman, Rev. Daniel Ogbarmey Tetteh, Mrs. Deborah Mawuse …
For the first time this year, the cedi has ended a month with depreciation against its major trading currency, the US dollar, a development an economist says should be expected given uptick in economic activities, especially, imports. Data from the Bank of Ghana shows the cedi, as of August 5, 2021 traded averagely with the …
Ghana’s quest for a national development finance institution to provide critical financing for economic development cannot be overemphasised. This is because the existing commercial banks have over the years not been able to deliver and adequately supported the country’s development process, partly due to the maturity expectation gap. “The maturity expectation of the depositor is …
The Supreme Court has dismissed a case filed by the Association of Finance House challenging the Bank of Ghana for issuing corporate governance directives for financial institutions, ruling that the regulator’s action was lawful. The Association of Finance House, in November 2020, brought an action in the Supreme Court of Ghana challenging the Bank of …
The GhIPSS 2021 half year performance report has shown that the GhQR and other new electronic services have started making gains. These electronic channels, including GhQR, ACH Direct Credit Near Real Time, GIP Debit pull, and Proxy Pay introduced by Ghana Interbank Payment and Settlement Systems (GhIPSS) cumulatively recorded 358,000 transactions in the first half …