The GhIPSS 2021 half year performance report has shown that the GhQR and other new electronic services have started making gains. These electronic channels, including GhQR, ACH Direct Credit Near Real Time, GIP Debit pull, and Proxy Pay introduced by Ghana Interbank Payment and Settlement Systems (GhIPSS) cumulatively recorded 358,000 transactions in the first half …
Vice President Dr Mahamudu Bawumia says it is time African governments embrace digital currency (bitcoin) to facilitate trade and enhance other productive sectors of their economies. He, therefore, lauded the Bank of Ghana’s decision to pilot digital currency later this year towards its nationwide roll-out in the near future, saying that it would give it …
The Monetary Policy Committee of the Bank of Ghana (BoG) has maintained the policy rate at 13.5 percent. The policy rate is the rate at which the central bank lends to commercial banks in the country. The Governor of the Bank of Ghana who is also the chairman of the committee, Dr. Ernest Addison made …
The Bank of Ghana (BoG) has said it would not renew licenses of susu collectors who are non-compliant with set regulations governing susu operations in the country. The Central Bank noted that the practice of susu collectors, taking money from individuals and keeping them in personal accounts or lending such monies to third parties is …
The International Monetary Fund (IMF) has projected the country’s public debt to hit 83.5 percent of Gross Domestic Product (GDP) by end of the year, thereby throwing the economy into the dreaded list of debt-distressed countries. Already, the country is in the basket of economies at high risk of debt-distress – as the IMF data …
…launches ‘We Dey Everywhere’ campaign Fidelity Bank Ghana has further cemented its status as the country’s leader in Agency Banking with the launch of its ‘We Dey Everywhere’ Campaign. The campaign seeks to create awareness about the bank’s extensive network of community agents who are bringing banking to the doorsteps of Ghanaians across the country. …
Fidelity Bank has introduced the Fidelity Edwapa Account to provide customised financial services for self-employed individuals and sole proprietors. This account is accessible to individuals operating within both the formal and informal business sectors. The Fidelity Edwapa Account comes with enhanced features and benefits tailored to fit the unique business needs of self-employed individuals and …
The Bank of Ghana has now given a timeline for the commencement of the pilot phase of its Central Bank Digital Currency (CBDC) project. Speaking to financial journalists at the end of last week at opening of a training workshop organized by the central bank and Journalists for Business Advocacy, (JBA) Dr Maxwell Afari, 1st …
The higher rate of inflation recorded for foodstuffs and transportation pushed inflation for the month of June marginally up by 0.3% to 7.8%. However, despite the increase, the country continued to stay within the single digit inflation for the past three months. This marginal increment will also not affect cost of living that much. According …
Ghanaian fisheries observers are bribed, threatened and abused at sea, investigations by the Environmental Justice Foundation (EJF) have revealed. These conditions have enabled rampant illegal fishing in Ghana’s waters. Action is urgently needed to ensure the safety of these individuals, to curb illegal fishing, and to safeguard coastal livelihoods and the food security of the …