Money Box
Growing up in the mid 90’s it was very common practice to see children save in either a tin or wooden box called Money box. At that age we were encouraged to save in money boxes to take care of...
Tag: banks
BoG To Offload 10% To 20% of GhIPSS To Commercial Banks
Citi Business News has gathered that the Bank of Ghana (BoG) may allow commercial banks to acquire between 10 and 20 percent stake in the Ghana Interbank Payment and Settlement Systems (GhIPSS). The...
Investors Cautioned Against Investing In Banking Stocks
Fund managers in the country have been cautioned against investing in banking stocks as the return on such investments keep dwindling. The warning was made by the Chairman of IFS Capital Management...
BoG Considers Increasing Minimum Capital Requirement of Banks
The Bank of Ghana (BoG) is working to increase the minimum capital that every commercial bank must have in order to operate in Ghana. This is one of the several measures the regulator is considering,...
Fancy Adverts, Terrible Service
In Accra not an hour goes by on local radio and television without an advert of a bank promoting some sort of potion for the financial ills of residents. The banks here will lend you money for almost...
Rural Banks To Venture Into Insurance
The Association of Rural Banks says it taking steps to establish an insurance company to take care of high risk transactions of members. Officials say the move is to ensure sustained rural banking...
32 Banks For Ghana’s Economy Okay – Acheampong
Banking consultant, Nana Otuo Acheampong has stated that the increasing number of banks in the country is not a disincentive to the industry but an avenue that can stimulate good competition....
Telcos Bemoan Delays Over E-Money License
Mobile money operators in the country want the Bank of Ghana to expedite the processes of issuing licenses to Dedicated Electronic Money Issuing Institutions (DEMI). They argue that the licenses will...
Banks Warned Not To Cut Lending Due To High NPLs
Commercial Banks in the country are being urged not to cut or reduce lending to the public and businesses due to the rising Non-Performing Loans (NPL) which has hit Ghana’s banking sector. This is...
GhIPSS Charges Banks To Expand Instant Pay Service
The Ghana Inter-bank Payment and Settlements Systems (GhIPSS) has charged banks in the country to expand the Instant Pay service to afford bank customers more flexibility and convenience. The instant...
Bad Economic Management Cause of Failed Eurobond
Due to the lack of measures to mitigate the negative impact of economic factors, the Mahama-led National Democratic Congress (NDC) should have done more to prevent the current levels of mismanagement...
HFC Awaits Court’s Ruling In Finatrade Debt Saga
HFC bank has told Citi Business News it will await a court ruling before it makes its next move following Finatrade’s indebtedness to it. HFC is one of many banks Finatrade is currently indebted...
Complete Biography & Profile of Alan John Kojo Kyerematen, Former Minister for Trade & PSI
Alan John Kwadwo Kyerematen (popularly called Alan Cash) is a Ghanaian politician, a corporate executive, a diplomat and an international public servant. Kyerematen made an attempt at the leadership...
Income Tax Increment Threatens Survival of Rural Banks
The Association of Rural Banks have expressed fears that the increment in the Corporate Tax of rural and community banks is a threat to their survival.
The Corporate Tax on these banks was raised...
Finatrade’S GH¢1.2bn Debt Exposes Banks’ Greed
The Chief Executive Officer of Dalex Finance, Mr Ken Thompson, says the risk of default on Finatrade's GH¢1.2 billion debt to 26 banks could have been minimised, if the affected institutions were...
Gov´T Urged to Consider Tax Credit to Mortgage Institutions
The managing director of HFC Bank, Mr Robert Le Hunte, has called on the government to consider a tax credit on the interest income on mortgage to encourage more uptake of mortgage facilities by...
38-Year-Old Arrested by Ghana Police for Hacking into Banks and Transferring Money into His Account
A 38-year-old man, alleged to be a specialist in hacking into the emails of banks and other business institutions to defraud them of various amounts, has been arrested by the police.
The suspect,...
Fear over Possible New Currency Prompts Bank Run in Zimbabwe
A prolonged shortage of the U.S. dollar, the dominant circulating currency in Zimbabwe, has worsened over the past two weeks as panicky clients queued up at banks to withdraw money, fearing that the...
Zimbabwe on the Brink of Complete Economic Collapse as It Slashes Retirement Age by 10 Years
Zimbabwe is so desperate for cash it has cut the retirement age for soldiers from 60 years to 50. Only those who fought in the 1970s liberation struggle are allowed to remain in service until 65. In...
Thousands Sign Up As PayPal launches in Nigeria.
PayPal has signed up "tens of thousand" of Nigerians in its first week of operating in Africa's biggest economy, with consumers already purchasing items from Britain, China and the United States via...