The Bank of Ghana is hoping that banks will soon reduce their interest rates on loans to reflect the continuous drop in the policy rate. The central bank believes that the development should also help correct the balance sheets of banks by reducing the Non-Performing Loans. This was among the key issues raised at a …
The Bank of Ghana has assured that, it is taking pragmatic steps to make the Deposit Protection Act operational by April this year. When operational, the Act will protect depositors’ from unforeseen circumstances that may result in the collapse of any financial institution. The Act, which was passed by parliament in 2016, is expected to …
One of the key priorities of the NPP administration is to move ‘Ghana Beyond Aid’. The government has been tough on working to reduce the over-dependency on donor support for development. In the build up to President Akufo Addo’s State of the Nation Address on Thursday, February 8, 2018, Citi Business News takes a look …
Some cryptocurrency operators have welcomed the Bank of Ghana’s stance on the use of digital currencies saying it will protect users from fraud. The Co-Founder of Crypto Ghana, Bernard Owusu Mensah explains that the announcement will however least affect organisations like his that engage in the trading of digital currencies. The Bank of Ghana has …
Some Economists have described as unsuccessful, the NPP government’s debt management strategy within the first year of its administration. In their views, the government must do more if it is to reduce the country’s debt burden going forward. The comments follow the latest Bank of Ghana report which shows that Ghana’s debt has reached 138.8 billion …
Ghana’s imports have dropped marginally between 2016 and 2017, figures from the Bank of Ghana have shown. The country’s imports declined from 12.9 billion dollars in 2016 to 12.7 billion dollars in 2017. This translates into a drop of 1.7 percent within the one year period. Total exports also reached 13.7 billion dollars from 11 …
The cedi’s losing streak against major trading currencies continues on the foreign exchange market. Even though there is an indication of a marginal improvement in the cedi’s performance, the currency is still struggling to stabilize against major ones. According to the Bank of Ghana, between May and December 2017, the cedi depreciated by 3.4 percent …
The Monetary Policy Committee (MPC) of the Bank of Ghana has maintained the policy rate at 20 percent. The decision was announced at the media briefing to conclude the MPC’s annual meetings on Monday, January 22, 2018. The MPC last year (2017), reduced the policy rate by 550 basis points. In 2017, the figure went …
In 2018, we look forward to new opportunities for business development in Ghana. However, we are also concerned about significant challenges that the key stakeholders need to address. Our team at JCS Investments has identified five themes that should be at the forefront of conversations this year. We believe that some of these challenges require …
Government missed out on its inflation target for year 2017 by 0.6 percentage points, ending the year with 11.8 percent against a target of 11.2 percent, the Ghana Statistical Service’s (GSS) December release has shown. The figure also represents a 0.1 percentage point rise over the 11.7 percent recorded in November 2017. Also compared to …