APR of Interest Hits 28%- BoG
The Bank of Ghana has released its latest data on Annual Percentage Rates (APR) of interest charged on loans and credit advances and the Average Interest (DI) paid on deposits by banks. The data is...
Tag: banking
More Banks Now Offer Instant Pay
About 18 of the country’s banks are now able to offer the Instant Pay (GIP) service to their customers, more than twice the number that could do so as at August this year. This means that more...
18 Banks Now Offer Instant Pay
About 18 of banks in Ghana are now able to offer the Instant Pay (GIP) service to their customers, which is double the number that could do so in August this year. This implies that more customers...
OmniBank Woos Corporate Bodies With New Products
New entrant into the banking industry, OmniBank Ghana has organized an Executive Breakfast Meeting in Accra to outline plans of the company for business owners. The bank which is the 32nd bank to be...
OmniBank Organizes Breakfast Meeting For CEO
New entrant into the banking industry, OmniBank Ghana has organized an Executive Breakfast Meeting in Accra to outline plans of the company for business owners. The bank which is the 32nd bank to be...
Odotobri Rural Bank Opens Bantama Branch
Odotobri Rural Bank Limited at Jacobu in the Amansie Central District of Ashanti Region has inaugurated its Bantama branch in Kumasi. This comes to eleven the number of branches currently being...
US Raises Key Interest Rate By 0.25%
The US Federal Reserve has raised its benchmark interest rate by 0.25%, only the second increase in a decade. The central bank voted unanimously to raise the key rate to a range of 0.5% to 0.75%,...
GCB Bank Limited Opens Saboba Branch
Customers of GCB bank limited in the Saboba district of the Northern Region have been relieved of the risk involved in travelling to Yendi for their banking needs. The Saboba branch will bring...
BoG Governor Must Vacate Post If …
Some financial and political observers have suggested that the Governor of the Bank of Ghana, Dr. Abdul Nashiru Issahaku would have to take a principle position to vacate his position as a new...
BoG Board To Decide Modalities For Paying Minimum Capital
The Bank of Ghana (BoG) has announced that it will present its final report of the proposed Minimum Capital requirement to the board of the bank by close of this year. The Bank of Ghana earlier this...
Microfinance Companies Reject New BoG Logo
It appears the decision by the Bank of Ghana(BoG) to introduce a new logo for all microfinance companies in the country may face a stiff resistance. The Bank of Ghana in announcing new regulations...
Wholesalers and Distributors Urged To Use Instant Pay
Wholesalers and distributors are being encouraged to use the Instant Pay (GIP) for their transactions to ensure quick payment and delivery of goods particularly during this yuletide. The Instant Pay...
The ‘now’ & the ‘future’ of Green Banking [Article]
The Internet is a powerful tool for communication and research as well as providing businesses with means of connecting with consumers and generating income. Advancement in Information and...
Brexit EU Trade Deals ‘shouldn’t Cherry Pick’ Different Sectors
Campaigners are urging the government not to "cherry pick" different parts of the economy for special trade agreements with the EU after Brexit. Three pro-EU MPs argue this approach risks creating...
You and Low Interest Rates
The start of the week saw the Monetary Policy Committee (MPC) of the Bank of Ghana announcing a reduction in the policy rate by 50 basis points to 25.5 per cent. Previously, the rate had held at 26...
Interests On Loans To Drop If …
Some financial analysts are anticipating that the Bank of Ghana (BoG) will sustain the decision to reduce further, its policy rate to ease access to credit to businesses. According to them,...
Financial Observers Expect A Reduction Today
There is growing expectation on the Bank of Ghana (BoG) to announce a reduction in the policy rate as the governor prepares to publish results of the Monetary Policy Committee meeting later this...
I’m Determined To Pay GHC51m
Businessman Alfred Agbesi Woyome has said he will surely pay the GHS51.2million judgment debt paid him by the state, which the Supreme Court has ruled must be refunded because it was ill-gotten....
Woyome’s Payment To EOCO ‘cooked’ Story
In the wake of reports in the media that Mr. Alfred Agbesi Woyome has paid GHc4 million out of the total sum to government, former Minister of Justice and Attorney General, Mr. Martin Amidu believes...
SC ‘erred’; I’m Refunding GHC51m ‘under Duress’
Businessman Alfred Woyome has said the Supreme Court erred in its judgment concerning the controversial GHS51.2million judgment debt, adding that although he is “determined” to pay the money...