The depreciation of the Ghanaian cedi against the US dollar continues its upward trend on the commercial forex market, with the loss in value nearing 10% for the first four months of 2024. Since the beginning of the year, the cedi has experienced marginal depreciation marking a year-to-date depreciation of approximately 9.37%. However, this marks […] The post Cedi-dollar
Kafui Bimpe Access Bank Ghana has partnered indigenous shoe manufacturer, Horseman Shoes, to empower over 500 shoemakers in the country. A statement issued by the bank said the empowerment Read More... The post Access Bank Partners Horseman Shoes appeared first on
Access Bank Ghana Plc, a leading retail Bank in Ghana, has published its robust financial performance for the fiscal year ending 2023, marking a significant milestone in its journey of growth and resilience, further solidifying its path towards achieving its strategic goals. The bank recorded an outstanding increase in Profit Before Tax (PBT) compared to […] The post Access
At the maiden edition of the Women in Business Dialogue series organised by the Business and Financial Times and held in Accra, the Sector Head, SME & Retail Banking at Zenith Bank, Gloria Cabutey-Adodoadji, urged businesswomen to leverage on the golden opportunities of the African Continental Free Trade Area (AfCFTA) agreement to expand their reach […] The post Zenith
Once the new Cash Reserve Requirement (CRR) policy becomes effective, it is expected to see approximately GH¢16.2billion – US$1.2 billion flow from banks to the Bank of Ghana (BoG). CRR is a rule set by central banks requiring commercial banks to keep a portion of their deposits – local and foreign currency – as cash […] The post Editorial:
Dr. John Kwakye, the Director of Research at the Institute of Economic Affairs (IEA), has criticized the Akufo-Addo government for its dependence on funds from the International Monetary Fund (IMF), World Bank, and other donor agencies to strengthen the local currency. He labelled the government’s heavy reliance on foreign aid, including Eurobonds and cocoa syndicated […] The post Ghana’s
By Christabel DANSO ABEAM The Divisional Director of Retail and Business Banking at Fidelity Bank, Nana Esi Idun-Artkhurst, has outlined essential strategies to prepare women-owned businesses for investment. She stated that a crucial factor determining a business’ creditworthiness is the owner’s discipline and commitment to maintaining accurate bookkeeping records. Expanding further, Ms. Idun-Artkhurst noted that […] The post
Fresh data from the Bank of Ghana (BoG) shows banks still favour investments in government securities over and above extending credit to the private sector, meaning that businesses have access to less purchasing power in real terms. Governor Ernest Addison, in a press briefing for the 117th Monetary Policy Committee (MPC) meetings, revealed that compared […] The post Editorial:
Day two of the highly anticipated ‘Back to Your Village Food Festival,’ hosted by Citi FM and Citi TV, is set to enthral attendees today at the forecourt of the Accra Metropolitan Assembly. Following the resounding success of the festival’s inaugural day on Saturday, March 30, where patrons were treated to a tantalizing array of […] The post Back to
Citi FM and Citi TV’s eagerly anticipated ‘Back to Your Village Food Festival’ set to tantalize palates takes off today, Saturday, March 30, 2024. Formerly known as the “Back to Your Village Food Bazaar,” the two-day annual event, which will end on Sunday, March 31, returns with a fresh new outlook, promising an unforgettable culinary […] The post Citi
Bernard Avle, the General Manager of Citi TV and Citi FM, has stated that the organisation’s ‘Back to Your Village Food Festival’ goes beyond simply celebrating differences. It’s about recognizing the underlying unity that binds Ghanaians together. “We are not here because we are different, we are here because we are similar. We are not […] The post ‘Back
The Bank of Ghana (BoG) has appointed Dr Joseph O. France as a Management Advisor to the Universal Merchant Bank Ltd. (UMB). Dr. France’s role will involve advising UMB’s management, monitoring its recapitalization efforts, and overseeing governance reforms agreed upon with the Bank of Ghana. The appointment is in accordance with section 101(1) of the […] The post BoG
The Bank of Ghana (BoG) says it remains committed to promoting a sound and resilient banking sector that retains the trust and confidence of the general public. The central bank said this while announcing that it has appointed Dr. Joseph O. France as an Advisor to advise the management of Universal Merchant Bank LTD (UMB) […] The post Bank
Children under 14 will be barred from joining social media in Florida from next year. Signed into law by governor Ron DeSantis, the legislation directs social media firms to delete the accounts of under-14s. Children aged 14 and 15 will also need parental consent before signing up for platforms like Instagram and Snapchat. Companies who […] The post US state bans children under
Professor John Gatsi, economist and Dean of the University of Cape Coast Business School, has maintained that the indicative exchange rate used by the Bank of Ghana (BoG) is not reflective of the cost structure of business in the country. According to the central bank, the cedi depreciated at 6.8 percent against the US dollar […] The post Relative
In a recent initiative to bolster economic resilience, Absa Bank Ghana has organized a seminar for its Business Banking clients focused on understanding and managing market risks effectively. The event, themed “Anticipate and Effectively Manage Market Risk,” aimed to provide insight into the current macroeconomic climate, highlighting potential market risks and outlining risk management solutions. […] The post Absa
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has asked the security agencies to play their role in the fight against cross-border illegal transfers. He says that there is nothing the central bank can do about it if the security agencies do not help. Dr Addison indicated that although the Bank hears rumors […] The post If the
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has explained why the local currency, the Cedi depreciated against the major trading ones, the Dollar, Pounds, and Euros, at a time when the local economy was expanding. Recently, the Government Statistician, Professor Samuel Kobina Annim announced that Ghana’s economy grew by 2.9% in 2023, […] The post Addison
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has asked the state security agencies to assist the bank in dealing with reports of cross-border illegal transfers. He says that although the Bank hears rumors of these illegal transfers, it is not taking the matter lightly. Dr Addison said these while answering a question […] The post Bank of Ghana prepared
Thomas Ishmael Adjei Fidelity Bank Ghana, a leading advocate for financial inclusion, took a centre stage role in empowering young minds at the just ended 13th African Games. The Read More... The post Fidelity Bank Empowers Youth At African Games appeared first
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