Atwima Kwanwoma Rural Bank Limited in the Ashanti Region has posted growth in almost all the financial indicators in the 2018 year under review. The bank recorded a profit before tax of a little over GH¢6 million in the 2018 year under review representing a drop rate of 11 per cent from approximately GH¢8.3 million …
The government and the Bank of Ghana (BoG) have each contributed €13 million as seed money for the smooth take-off of the Ghana Deposit Protection Corporation (GDPC). This is in addition to the GH¢400,000 paid by the banks to boost the GDPC’s reserves to enable it to provide cushion for depositors in case of a …
In its quest to facilitate the expansion of trade and investment between Ghana and Barbados, an indigenous Ghanaian firm and its counterpart from Barbados have signed a partnership agreement to boost e-commerce within the two countries. The signing of the Memorandum of Understanding (MoU) which took place on the sidelines of a business-to-business investment summit …
The Minister of Communications Ursula Owusu Ekuful has argued that it will be appropriate for the government to tax the transaction fees mobile money companies charge when they conduct mobile money transactions. Addressing the press in Accra on the performance of the Common Monitoring Platform operated by KelniGVG, the Communications Minister said mobile money companies …
The Ghana Chamber of Commerce and Industry (GNCCI) has launched a credit union to provide credit facilities to SMEs under flexible payment terms and low-interest rates. Speaking at the launch of the Credit Union, Dr Nana Appiagyei Dankawoso 1 said the move is to give SMEs the wherewithal to remain a force in the African …
Local players in Ghana’s poultry industry have reiterated calls on the government to consider placing a cap in the volumes of imported poultry products into the country. According to the Poultry Farmers Association of Ghana, they will be able to increase production with the requisite support from the government to meet the shortfall that would …
The Bank of Ghana (BoG) has launched new guidelines for repurchasing agreements trading on the Ghanaian market, Tuesday. The move is to have a well-functioning repo market and contribute to the efficient allocation of capital in the real economy by supporting liquidity in other markets. It is a new guideline that would help better regulate …
The Securities and Exchange Commission (SEC) has, with effect from today, revoked the licences of Fifty-Three (53) Fund Management Companies. According to SEC, these actions were taken pursuant to Section 122 (2) (b) of the Securities Industry Act, 2016 (Act 929 or “the Act”) which authorizes the Securities and Exchange Commission to revoke the licence …
Smallholder farmers have expressed relief as they no longer have to source for expensive and unreliable funding for their farming activities. This was at the launch of the Ghana Warehouse Receipt Financing in Kumasi, the Ashanti Regional capital, a collaboration between the ARB Apex Bank, the Ghana Commodity Exchange (GCX), and the International Finance Corporation …
About 80% of retail consumers between the ages of 17 to 39 preferred to shop online using smartphones and the internet. According to Firmus Advisory, Market research, regulatory compliance and trade development consulting firm, in its recent survey, disclosed that a lot more purchases are still done through traditional means, especially for food and beverages. …