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Business

A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring which I enjoy with my whole heart.

  PART 1: POSTPONING THE FISCAL PAIN Introduction Ghana is praised for achieving fast decreases in budget deficit since FY2016, when the past government was alleged to have bequeathed GH¢7 billion arrears. As we argued in previous articles, the decreases are from fiscal ‘offsets’, not actual payments, of arrears. The reduction of end-2016 deficit of …

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Ford’s engine plant in Bridgend is set to close in autumn 2020, with the loss of 1,700 jobs. Union officials were told of the plans at a meeting with Ford bosses which include the offer of redeployment. Workers were sent home after receiving a letter which said they will lose their jobs in phases by …

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The Minority in Parliament has suggested that Ghana is currently ranked among said Ghana is the “highest debt distress risk” countries in the world considering the country’s ballooning public debt stock. This came up at a press conference held today (Thursday) by the Minority to express their view on the public debt stick which stands …

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The Bank of Ghana (BoG) has taken punitive action against Barclays Bank of Ghana for violating the Ghana Interbank Forex Market Conduct Rules. The central bank in a statement on Monday June 3, 2019 said the bank has been fined an amount of GH¢4,579,256.36 “for making frivolous quotes on Ghana’s Interbank Foreign Exchange Market”. The BoG …

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The Deputy Director in charge of Supervision and other Financial Services at the Bank of Ghana (BoG), Bernard Otabil, has given an assurance that depositors of the insolvent microfiance companies who had their licences revoked would be paid after the receiver is done with his He told Kwabena Agyapong on Rainbow Radio 87.5Fm that the …

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The receiver appointed by the Bank of Ghana as receiver for all the 347 microfinance companies whose licenses were revoked last Friday following what it said was to protect the stability of the financial system and to protect affected depositors says all customers would receive their deposits in a month. Me. Eric Nana Nipah of …

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The Bank of Ghana (BoG) has released the list of all registered  Microfinance and Microcredit to remain operational after the clean-up exercise. In total, we now have 137 Microfinance and 31 Microcredit Institutions making a total of 168, the BoG said in a release. The Central Bank in its statement said: “Following the revocation of …

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The Head of Other Financial Services at the Bank of Ghana, Mr. Kofi Amoah Awuah has disclosed on Nyankonton Mu Nsem on Rainbow Radio 87.5Fm that attempts were made to have some of the microfinance companies who had their licenses revoked merge but a few managed to that. According to him, these affected companies were …

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  The Bank of Ghana (BoG) has announced through a press statement that only 137 microfinance companies will operate in the country after revoking the licences of some 192 insolvent microfinance companies. The BoG also revoked licences of another 155 insolvent microfinance companies that have ceased operations. In a press release Friday, BoG explained that …

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The Bank of Ghana has, with effect from today (Friday May 31, 2019), revoked the licences of 192 insolvent microfinance companies. In addition, licences of another 155 insolvent microfinance companies that have ceased operations (see attached list) have been revoked. These actions were taken pursuant to section 123 (1) of the Banks and Specialised Deposit-Taking …

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