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BoG urged to reduce minimum capital of indigenous banks to GH¢250,000

Regional Director of the Chartered Institute of Leadership and Governance (CILG – Ghana Chapter), Dr Bediako Asare, has called on the Bank of Ghana to reduce the minimum capital for indigenous banks to GH¢250,000.00 instead of the GH¢400,000.00. He said the current GH¢400,000.00 capital adequacy ratio should be targeted at foreign banks …

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Ghana, India trade hits US$3.4billion

Ghana’s trade in goods and services with India reached US$3.4billion in 2017, according to the International Trade Centre (ITC). The figure represents an export value of US$2.76 billion and imports totalling US$638.3 million. Major trading products which consist of minerals, pharmaceutical products, machinery, cereals, electrical and electronics, aluminum, articles, rubber …

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Financial stability: World Bank gives Ghana $30m support

The World Bank has approved a $30 million International Development Association (IDA) credit to support the Government of Ghana strengthen its financial sector stability. The support is also to improve inclusiveness for users of formal financial services and the financially excluded, particularly women, rural communities and farmers. Commenting on the …

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Ghana, Cote d’Ivoire cement cooperation agreement on cocoa

Ghana and Ivory Coast have agreed on an implementation plan to concretise the Abidjan Declaration, which seeks to address challenges in cocoa production within the framework of the Strategic Partnership Agreement. The Strategic Partnership Agreement binds the two countries in even closer intimacy and demands that they work together to …

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GEF 2018: Banks must innovate – Barclays MD

Managing Director of Barclays Bank Ghana, Abena Osei-Poku has encouraged the banking sector to innovate and aim to offer financial solutions that responds to the revolving nature of the economy. “Bankers and financial market players must innovate and offer financial solutions that respond to the cyclical nature of the economy” …

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MTN to list on Ghana’s stock market today

MTN is to list proceeds from its Initial Public Offering (IPO) on the Ghana Stock Exchange later today [September 5, 2018]. The company, in July, concluded its IPO which is to allow it cede thirty-five percent of its operations to the public. The IPO targeted 3.5 billion cedis, but it …

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