Headlines
Stanbic Bank offers financial solutions to members of Ghana Medical Association
Stanbic Bank Ghana, a subsidiary of the Standard Bank Group, has signed a Memorandum of Understanding (MOU) with the Ghana Medical Association (GMA) aimed at offering tailor-made financial solutions to members of the GMA. Speaking at the MOU signing ceremony at Stanbic Heights in Accra, Kwamina Asomaning, Chief Executive of Stanbic Bank said health is […]
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Banking & Finance
OmniBSIC Bank makes GH¢150m gain in 2023
The fastest-growing bank, OmniBSIC Bank, has emerged stronger in the aftermath of the debt restructuring programme, with an impressive performance that resulted in one of the biggest profitability ratios in the banking sector last year. The bank’s profit rose by 218 percent to GH¢150.6 million in 2023, indicating a significant turnaround from the loss suffered […]
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Business
$3bn deal: We are beginning to reap substantial macroeconomic benefits – BoG Governor
The Ministry of Finance and the Bank of Ghana have shown a steadfast commitment to a set of policies right from the beginning of the implementation of the $3 billion programme with the International Monetary Fund (IMF) under very difficult circumstances, Governor of the central bank, Dr Ernest Addison has said. He stated that they […]
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Business
IMF deal: Addison expresses optimism that 2nd review will lead to release of 3rd tranche
Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has expressed optimism that the successful second review of the programme with the International Monetary Fund (IMF) will lead to the release of the 3rd tranche. The country had already received two tranches, $600million each. The release of the third tranche would increase the total […]
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Business
OmniBSIC Bank posts historic profit, makes GH¢150m gain in 2023
The fastest-growing bank, OmniBSIC Bank, has emerged stronger in the aftermath of the debt restructuring program, with an impressive performance that resulted in one of the biggest profitability ratios in the banking sector last year. The bank’s profit rose by 218 percent to GH¢150.6 million in 2023, indicating a significant turnaround from the loss suffered […]
The post OmniBSIC
Banking & Finance
OmniBSIC Bank makes GH¢150m gain in 2023
The fastest-growing bank, OmniBSIC Bank, has emerged stronger in the aftermath of the debt restructuring programme, with an impressive performance that resulted in one of the biggest profitability ratios in the banking sector last year. The bank’s profit rose by 218 percent to GH¢150.6 million in 2023, indicating a significant turnaround from the loss suffered […]
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Business
Stanbic Bank, GMA Sign Financial Care Package MOU
Mr. Asomaning, Dr. Serebour exchanging pleasantries Stanbic Bank Ghana has officially signed a Memorandum of Understanding with the Ghana Medical Association (GMA) to introduce financial care packages tailored to
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Business
Ghana To Return To 5.0% GDP Growth – WB
The World Bank (WB) is expecting an upward progression of Ghana’s Gross Domestic Product (GDP) to hit 5.0% by 2026. This follows a projected 2.9% marginal GDP growth for
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Featured
Structural inequalities cause of low growth in Africa – World Bank
The World Bank has identified deep-rooted inequalities as a major obstacle to Africa’s economic progress, according to its chief economist for the region. Andrew Dabalen in an interview on Citi TV’s The Point of View, pointed to a lack of essential infrastructure and limited intra-African trade as key factors limiting growth. “The speed at which […]
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Featured
Africa’s growth rebound in 2024 a positive sign – World Bank
Andrew Dabalen, the Chief Economist for the Africa Region at the World Bank, has expressed optimism regarding the forecasted 3.8% growth in Sub-Saharan African countries by 2025. The World Bank’s Africa Pulse Report for April 2024 anticipates growth in Africa in the coming years. The report also suggests that domestic resource mobilization and international support […]
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Economy
African economies projected to grow by 3.4% in 2024
but faster and more equitable growth needed to reduce poverty Increased private consumption and declining inflation are supporting an economic rebound in sub-Saharan Africa. However, the recovery remains fragile due to uncertain global economic conditions, growing debt service obligations, frequent natural disasters and escalating conflict and violence, according to the World Bank’s latest Africa’s Pulse […]
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General
Absa rewards Assist Card Campaign winners
Absa Bank Ghana has announced the winners of its Assist Card Campaign at a ceremony held at the Kempinski Gold Coast Hotel, Accra. The hallmark campaign is designed to encourage and reward the use of Absa’s contactless debit and credit cards. Launched in December 2023, the campaign underscores Absa’s strategic partnership with the English Premier […]
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Business
Becareful you do not become a conduit for terrorism financing – Bank of Ghana warns
When a person provides his or her legitimately or illegitimately acquired funds or assets for terrorist activities or organizations the person will be financing terrorism, the Bank of Ghana (BoG) has said. The central bank said financing of terrorism is a crime and is punishable by law therefore people should be careful they do not […]
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Banking and Finance
Many banks may soon struggle due to over-subscription of govt bonds – Report
A fiscal report authored by Banking Consultant Dr Richmond Atuahene and Data and Research Analyst Isaac Kofi Agyei has painted a grim picture of Ghana’s banking sector, attributing it to the excessive subscription of government bonds. Titled ‘Thirsty Banks: Ghana’s 2023 Challenge with High Cash Reserve Ratios,’ the report highlights the prolonged maturity period of […]
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Business
BoG’s Cash Reserve Ratios hampering private sector credit – Analysts warn
Credit to the private sector by banks will continue to squeeze due to the Bank of Ghana’s high Credit Reserve Ratios (CRR). This is one of the key findings and conclusion of a research paper by banking consultant, Dr. Richmond Atuahene and data and research analyst, Isaac Kofi Agyei. The report titled ‘Thirsty Banks: Ghana’s […]
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