The first full sovereign credit rating of Ghana for 2021 was delivered last week, and it left rating sentiment unchanged from last year. This came from global credit rating firm Moody’s Investor Services rating the country’s sovereign bond issuance at B3 negative, exactly the same as last year when the firm downgraded Ghana from B3 stable …
GCB Bank has described as false a publication by a body calling itself Good Governance Advocacy Group (GGAG), alleging that the bank’s Board has engaged in corruption, abuse of office, and conflict of interest. The bank has urged its customers and shareholders to disregard the publication, which has been circulated in some media outlets to …
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari, says the regulatory environment for fintech has been revamped to ensure a more competitive and innovative industry. Speaking at the second edition of the Mobile Technology for Development Conference 2021, the Deputy Governor said this has better positioned the fintech industry to serve …
Mobile financial services company, MTN Mobile Money Limited has announced the introduction of an additional security feature that allows its mobile money agents to verify the identity of customers who come to do ‘cash out’ transactions. This added feature comes on the back of an earlier decision requiring agents to demand valid ID cards before …
The Economist Intelligence Unit (EIU), the London-based business intelligence firm, says it does not see any room for the Bank of Ghana (BoG) to reduce the monetary policy rate—which has an effect on the cost of credit—in the rest of the year. The central bank has kept the policy rate unchanged for 12 months, having …
The World Bank has released its latest updated outlook for Ghana’s economy. Although it is the Bank’s projection that the debt to Gross Domestic Product ratio could exceed 80 percent by 2023 has dominated the headlines, the report provides cause for optimism as well although it warns that the adverse economic impacts of COVID 19 …
A total of GH¢571.8 billion (US$99.67 billion) worth of mobile money transactions took place in the year 2020 alone, Deputy Governor of the Bank of Ghana, Mrs Elsie Addo Awadzi has revealed. This reaffirms the statue of MoMo as the biggest platform for payments in Ghana after cash and well ahead of cheques and all …
The securities and exchange commission (SEC) is working on a draft to present new guidelines on third party and related transactions. This SEC believes will address the misappropriation of investments funds by Fund Management firms. The third party and related transactions was the major cause of the collapse of Fund Management firms forcing the clean …
Accra, April 2, GNA – The Bank of Ghana (BoG) has joined the Basel Consultative Group (BCG), a global body that sets and implements standards on banking supervision. In a statement the bank said it was admitted into the global body, making Ghana one of four countries in Africa which are members of the BCG. …
Digital payments are attracting growing interest, and eye-popping numbers abound, as demonstrated by the US payment processor Stripe’s recent $95 billion valuation. Why all the excitement, and why now? At one level, the reason is straightforward: digital payments allow buyers to pay sellers without physical currency changing hands. Though the technology has been around for …