The Bank of Ghana (BoG) is engaging directors of ASN Financial Services Limited, a licensed Finance House, to find an amicable solution to the troubled indigenous institution. The company, which specializes in investment services, credit issuance, and mortgage products, is currently struggling to meet the demands of some of its customers for payment of funds … Read more
Some financial institutions have assured customers of lower cost of services with the implementation of the scrapping of the 17.5 percent VAT on financial services. They contend that the development will increase patronage and attract more people currently in the unbanked population. The Ghana Revenue Authority (GRA) last week directed all financial institutions to stop … Read more
Consumers of financial services will from henceforth be able to demand compliance from their respective institutions they transact business with. It follows the completion of the Consumer Recourse Mechanism Guidelines by the Bank of Ghana. The guidelines among others allow consumers to seek redress for complaints with the industry regulator in a timely and independent … Read more
Letshego Holdings Limited (“Letshego”), the inclusive finance focused group with consumer lending, microfinance and deposit-taking subsidiaries across Southern, East and West Africa, today announces its second acquisition in West Africa, acquiring a 100% shareholding in afb Ghana Plc (“afb”) from Jumo World Limited. afb is a licensed non-bank financial institution and offers innovative credit products … Read more
The advent of money transfer by means of cellular phones poses no danger to the survival of traditional banks, founder of UT Holdings, Kofi Amoabeng, has stated. Contrary to talk that the service would soon collapse banking, Mr Amoabeng believed mobile money would enhance the operations of financial institutions and needed to be embraced. “I … Read more