The inflation for the month of December 2020 was 10.4% which is 0.6 percentage point higher than last month the Ghana Statistical Service has announced. Month-on-month inflation between November 2020 and December 2020 was 0.9%. Again like previous months, just two of the 13 Divisions had higher than average inflation rates; ’Housing, Water, Electricity, Gas’ …
The Ghana Investment Promotion Centre (GIPC) has launched an investigation into the operations of a Chinese investment firm, Chy Century Heng Yue Group Limited and its partner, Sairui E-commerce Ghana Limited. According to the business regulator, Chy Century Heng Yue Group Limited breached the GIPC law as its engagement in capital market activities wasn’t included …
The Social Security and National Insurance Trust (SSNIT), in accordance with Section 80 of the National Pensions Act 2008 (Act 766), on Thursday said the indexed monthly pensions have been increased upwards by 10 per cent 2021. SSNIT working in consultation with the National Pensions Regulatory Authority (NPRA) said all Pensioners on the SSNIT Pension …
The Securities and Exchange Commission (SEC) has issued a warning to Ghanaians, especially investors, to desist from investing in an unauthorized Chinese firm; Chy Century Heng Yue Group Limited and its partner, Sairui E-commerce Ghana Limited. According to SEC, the afore-mentioned financial institution, which has been undertaking electronic investment transactions has not been licensed to …
President Nana Addo Dankwa Akufo-Addo has stated establishing a strong economy will be the main preoccupation of his second term as President of Ghana. In his inaugural address for a second four-year term today in Accra, President Akufo-Addo said a strong economy will generate jobs for young people and enhance living standards to the levels …
The president has likened the previous operations of the many dissolved financial institutions to that of a Ponzi scheme. President Nana Addo Dankwa Akufo-Addo reiterated that his administration upon assuming power observed that many banks were in distress and had been kept on “unsustainable and artificial life support by the central bank.” “The supervisory agencies …
Serene Insurance Company Limited, a subsidiary of the First Sky Group, has announced that it has fully met the New Minimum Capital Requirement of the National Insurance Commission, one clear year ahead of the official deadline. This announcement was made by Mr. Eric Seddy Kutortse, Executive Chairman of the First Sky Group, during the 18th …
Governor of the Bank of Ghana, Dr. Ernest Addison, has said measures have been put in place to ensure the stability of the cedi in 2021. The cedis ended in 2020 with a depreciation of 3.8 percent against the dollar. As of the beginning of 2020, the Ghana cedi was trading at GH¢5.54 to a …
Microfin Rural Bank (MRB) is currently working with a fintech to roll-out innovative cashless products and services whilst deepening its technological platforms as part of the shift towards aggressive digitisation. The bank currently operates a fully electronic loan management system which has significantly reduced the turnaround time for loan appraisals, approvals and disbursements. According to …
Dr Ernest Addison, Governor of the Bank of Ghana, has hinted of plans to undo all countercyclical measures implemented in the financial sector due to the COVID-19 pandemic to allow for the proper functioning of the system. He has, therefore, charged banks to remain vigilant, upgrade staff capabilities, and improve the governance and risk culture …