Category: Ghana Business News

Chairman of the Board of Directors of FBNBank Ghana, Mr Joseph Yieleh Chireh has retired. This was captured in a statement issued by the bank. Yieleh Chireh, a pharmacist, legal practitioner and the Member of Parliament for Wa West, served for two terms as chairman of the bank from 2014 to 2020. The company in […]

The Vice President’s Spokesperson, Gideon Boako, says he has high hopes for Consolidated Bank Ghana Limited and expects it to go international. CBG was birthed from the merger for five struggling banks during the banking crisis. Dr. Boako reiterated the government’s defence of the handling of the banking sector and the need to create CBG […]

President Nana Akufo-Addo will on Monday, August 17, 2020, hand over the African Continental Free Trade Area (AfCFTA) Secretariat Building to the African Union Commission (AUC) in Accra. The Secretariat, which will administer the free trade agreement for creating a single market across 55 countries, is located along the Liberia Road in Accra. Together, the […]

Dalex Finance has presented a cheque of GHS20,000 towards the 20 for ’20 Campaign. The 20 for ’20 Campaign is a fund-raising initiative instituted by the Office of Institutional Advancement at the University of Ghana to raise funds for the [email protected] Endowment Fund and other projects. Mr. Richard Obeng Dwamena, Head of Finance, Dalex Finance […]

Shareholders of the Agricultural Development Bank (ADB) have been assured of dividends soon as the Bank continues on the path of sustainable growth and profit making. According to the Board Chairman, Lawyer Alex Barnasko, under his leadership the Bank was now making profit and with a well laid out strategy shareholders will soon enjoy dividends […]

New figures released by the Bank of Ghana show that fraud cases in the banking sector increased to 2,295 from 2,175, representing 5.5 percent in 2019. The marginal increase in the number of fraud cases according to the central bank could partly be attributed to the improved efforts by the Financial Stability Department to identify, […]

New figures released by the Bank of Ghana show that fraud cases in the banking sector increased to 2,295 from 2,175, representing 5.5 percent in 2019. The marginal increase in the number of fraud cases according to the central bank could partly be attributed to the improved efforts by the Financial Stability Department to identify, […]

The Agricultural Development Bank Limited (ADB) is encouraging customers to update their customer information details to ensure that all their details are accurately captured by the Bank. To ensure this , the Bank encouraging customers to visit the Bank’s website www.agricbank.com or any of the 83 branches nationwide to effect the update of their personal […]

Commodity Analyst, Esoko Ghana, says the prices of some foodstuff are likely to see a further reduction in the month of August. The prediction is based on the rains witnessed in the first half of the year as well as the easing of COVID-19 restrictions. In July, there was significant price reductions for some commodities […]

Mangers of two major factories under government’s One District One Factory initiative in the Central Region, Ekumfi Fruit and Juices Factory, and Casa de Ropa company, say although they have been negatively impacted by the COVID-19 pandemic, their production capacities have not been significantly reduced. The two firms, which have received credit facilities from the […]

The Director General of the Securities and Exchange Commission, SEC, Rev. Daniel Ogbarmey Tetteh, has emphasized the need for fund managers to leverage on technology for business growth. According to him, the impact of information and communication technology (ICT) in the securities industry has become increasingly critical considering the impact of the novel Coronavirus on […]

First Atlantic Bank has launched its 25th Anniversary celebration with a commitment to continue providing its customers with innovative products and services as it positions itself for bigger competition in the West African sub-region. Speaking to Citi Business News, the Managing Director of the bank, Odun Odunfa, said, the milestone will be marked in all […]

The Agricultural Development Bank (ADB), has posted impressive financial growth in its half year results even in the face of the Coronavirus pandemic that has wreaked havoc to all sectors of the economy including the financial sector. But the unaudited half year results published by the Bank last week showed a growth in all key […]

The Finance Minister, Ken Ofori-Atta, says the banking sector reforms undertaken by government in 2017 and 2018, has strengthened local banks, making them more resilient to shocks. Assessing the balance sheets of local banks currently, the Finance Minister argued that the financial health of Ghanaian-owned banks are stronger compared to the period before the cleanup […]

Beverage producers in the country are hopeful the decision by government to provide stimulus package for small and medium enterprises will help large firms to continue supplying their clients in the value chain. A recent survey by the Ghana Statistical Service revealed that even though COVID-19 negatively impacted businesses, SMEs were the hardest hit with […]

The Governor of the Bank of Ghana, Dr. Ernest Addison, says the central bank has put in place stringent measures to rapidly detect signs of distress exhibited by financial institutions, to immediately step in and protect the funds of depositors. The Governor says the measures include tightening of the bank’s supervisory role to stop the […]

Although falling interest rates remain a burden on the profitability of the Bank, ARB Apex Bank put up an impressive performance, increasing its total operating income by 17 percent from GHS55.5 million in 2018 to GHS64.96 million in 2019. Assets of the Bank recorded a significant growth of over 47 percent from GHS394.5 million in […]

DIONS Entrepreneurship Ecosystem has commenced enrollment to groom and empower 1,600 young entrepreneurs across the 16 regions of Ghana for its 2020/2021 cohort. Hundred qualified individuals will be selected each month for the next 16 months starting from September 1, 2020 to December 2021. The fellowship will offer practical support including equity funding to equip […]

The Ghana COCOBOD says it is importing electronic weighing scales for Cocoa License Buying companies to prevent the tampering of machines by Licensed Buying Companies to cheat cocoa farmers. The decision was arrived at after COCOBOD in collaboration with the Ghana Standards Authority followed up on a Joy News report on how some Licensed Buying […]

The Ghana Chamber of Construction Industry has expressed concern about the rising cost of building materials particularly cement and its impact on the cost of housing. The Chamber says considering the country’s huge housing deficit and the rising cost of rent, it is imperative that government takes steps to ensure a reasonable pricing of goods […]

The Managing Director of Bank of Africa (BoA), Mr. Kobby Andah, says Small and Medium Scale Enterprises (SMEs) have been at the heart of the bank’s operations. Against this backdrop, he says the bank is making available special packages to support SMEs to grow in the wake of the COVID-19 pandemic. He stated that the […]

From data collated by the Institute for Energy Security (IES), the debt of GH¢850.993 million owed to the Ghana Grid Company (GRIDco) by the Electricity Company of Ghana (ECG) in December 2019 has shot up by almost 31 percent to GH¢1.114 billion as of end June 2020. The Institute’s trend analysis of cash receivables of […]

Some staff of the La Palm Royal Beach Hotel in Accra on Monday, July 3, 2020, demonstrated for the second time in about two weeks over unpaid salaries and other matters. The angry employees are also demanding the removal of the CEO, Abena Pokua Boaitey Amoah, over her supposed poor leadership. They are also demanding […]