The central bank has begun an internal review of the Bank of Ghana Amendment Act 2016 (Act 918), which is likely to result in a proposal for further amendments to facilitate the implementation of the law, the first deputy governor of the bank, Dr. Maxwell Opoku-Afari, has said. He was speaking during an appearance before …
In a bid to create a sustainable future of shared value with all stakeholders, AngloGold Ashanti Iduapriem Mine has implemented, among other things, an Aquaculture project to address unemployment within its host communities. Mr. Stephen Adjei, Senior Manager, Sustainability at the Iduapriem Mine, briefed the Executive Director of Ghana’s Fisheries Commission, Mr. Michael Arthur Dadzie …
The Ghana Interbank Payments and Settlement Systems (GhIPSS), a subsidiary of the Bank of Ghana, has introduced a Near Real Time (NRT) Automated Clearing House (ACH) Direct Credit platform that allows Corporate Institutions to make bulk payments much faster. The service, being rendered in collaboration with the banks, is designed to enhance the efficiency of …
Four out of the 50 Fund Management Companies (FMCs), whose licences were revoked by the Securities and Exchange Commission (SEC) have filed applications in Court challenging the decision. A statement issued in Accra by the Commission said the cases were at various stages in Court and had resulted in a situation, where no other action …
In a COVID-19 era where National Oil Companies (NOCs) in the world are grappling with uncertainty, Ghana ignores global energy evolution at its own peril, international experts in the oil and gas space have warned. Advisor with the Natural Resource Governance Institute (NRGI) Patrick Heller maintains that with lots of International Oil Companies (IoCs) revising …
Members of the Governing Council and Executives of GARIA Distinguished GARIA Members, Distinguished Resource Persons Invited Guests, Ladies and Gentlemen Good morning. I bring you warm greetings and felicitations from Governor Ernest Addison and the entire management team of the Bank of Ghana. I am truly humbled to have been called upon to give the …
Mr Wendell Quartey-Papafio, Kpando Municipal Officer, Fisheries Commission, has said illegal fishing practices by fishermen plying the Volta Lake has rendered the Lake almost lifeless. He said “gone were the days when fish caught in the Lake were mature, nutritious and healthy” but the use of illegal fishing practices and use of offensive materials such …
The Governor of the Bank of Ghana, Dr Ernest Addison, has stated that all customers of the nine (9) failed banks, and over ninety-five percent (95%) of customers of Specialised Deposit-taking Institutions (SDIs), which were affected by the banking sector clean-up, have received their deposits. According to Dr Addison, the first phase of the banking …
To reduce the alarming cases of staff-orchestrated fraud in banks, the regulator – Bank of Ghana – has ordered banks to take a raft of measures, which include taking staff through police vetting to determine whether they have any criminal history, before employing them. This comes after the Banking Industry Fraud Report published by the …
The Producer Price Inflation (PPI) rate fell slightly in July to 9.3 percent compared with a revised 9.5 percent recorded in June. The month-on-month change in producer price index between June 2020 and July 2020 was 1.7 percent. The Ghana Statistical Service explained that the marginal decrease in all Industry Inflation Rate from 9.5 percent …