A microfinance monitoring visit one day took me to Bawku in the Northern Region of Ghana, where we visited microfinance groups which had benefited from microfinance loans from one rural bank. The groups were mainly women who were involved in various economic activities. I remember the excitement on the faces of women who had been …
Month: September 2021
Managing Director of the Agriculture Development Bank (ADB), Dr. John Kofi Mensah, has said that banks are working together to close the wide gap that exists between policy and lending rates. Currently, the Monetary Policy Committee (MPC) of the Bank of Ghana has pegged the policy rate at 13.5 percent, whereas, average lending rate of …
Countries the world over are challenged to do more in revitalising their economies as a way in which to bounce back after the effects of the Covid-19 pandemic. For this reason, the Ministry of Information (MOI) and the Ghana Investment Promotion Centre (GIPC) through an investment event called the ‘Spark Up Investment Summit’ are looking …
Fidelity Bank has launched a digital self-onboarding solution for its innovative Smart Account, a minimum-effort ‘Know Your Customer’ (KYC) requirement account that was launched in 2014 to extend financial services to the unbanked and underbanked in Ghana. The new platform has made it easy to open a Fidelity Smart Account from any location using the …
The Bank of Ghana’s 2020 Banks & SDIs Fraud Report says the reported value of fraud for 2020 was GH₵1.0billion as compared to GH₵115.51billion recorded in 2019, and the central bank notes that this poses reputational risks to some banks. It is noteworthy that despite the increasing rate of fraud cases-valued at GH₵1.0billion, the losses …