The US$95 million Kumasi City Mall, officially opened for business today [Thursday], drawing a lot of excitement by shoppers in the nation’s second largest city. Spread on a 15.4-acre stretch of land, it has 74 different shops, for foodstuffs and groceries, lifestyle, beauty and wellness, electronics and telecommunications, fashion and clothing. The others are pharmaceuticals … Read more
Average interest rate on agricultural loans by banks has increased marginally to 33.2 percent as at the end of February this year, the Bank of Ghana’s Annual Percentage Rate and Average Interest report has shown. The report also shows that First Atlantic Bank offers the highest agric loans at 41.2 percent. But Standard Chartered Bank … Read more
The average interest on vehicle loans offered by commercial banks has reached 35 percent as at the end of February this year; the latest Annual Percentage Rate (APR) report by the Bank of Ghana has shown. This represents 2 percent increase compared to the 34.3% recorded as at the end of January 2017. The Annual … Read more
The average interest on vehicle loans offered by commercial banks has reached 35 percent as at the end of February this year; the latest Annual Percentage Rate (APR) report by the Bank of Ghana has shown. This represents 2 percent increase compared to the 34.3% recorded as at the end of January 2017. The Annual … Read more
The average interest offered by banks on customer deposits has dropped by about 2.5 percent between January and February this year. The figure declined from 11.9 percent as at end of January 2017 to 11.6 percent as at end of February; the latest Annual Percentage Rates (APR) and Average Interest (AI) report by the BoG … Read more
Standard Chartered Bank has been named as the bank with the lowest interest on customer deposits. According to the Bank of Ghana’s latest Annual Percentage Rates (APR) and Average Interest (AI) report, Standard Chartered Bank offered 4.3 percent on deposits of its customers as at end of January 2017. The report which contained the rates … Read more
Standard Chartered Bank has been named as the bank with the lowest interest on customer deposits. According to the Bank of Ghana’s latest Annual Percentage Rates (APR) and Average Interest (AI) report, Standard Chartered Bank offered 4.3 percent on deposits of its customers as at end of January 2017. The report which contained the rates … Read more
Mr Ken Ofori-Atta, the Minister Designate for Finance, says tighter monitoring and control of the nation’s finances and fiscal policies would reduce leakages needed to protect the public purse. “When I look at the current state of our country’s finances I suspect we need tighter monitoring and control,” Mr Ofori-Atta told the Appointments Committee of … Read more
Minister-designate for Finance, Kenneth Nana Yaw Ofori-Atta, says he has settled the controversial GHC2 million debt owed Prudential Bank Limited by the New Patriotic Party. The bank in 2015 wrote to the NPP to demand repayment of the amount which the party secured as loan to prosecute its campaign but reportedly reneged on its repayment … Read more
Some bankers have warned any move by Government to cap interest rates in Ghana will end in a disaster. Banking consultant and Principal Consultant at Osei Tutu II Centre for Executive Education & Research Nana Otuo Acheampong told host of Business Today, Vivian Kai Lokko that ‘It will be a disaster if we decide to … Read more
Mr Kobina Ade Coker, the Chairman of the Ghana Export Promotion Authority (GEPA) has said exporters of various products are the cornerstone of the nation’s economic growth. He said “exports have not just brought Ghana some much-needed foreign cash; it has also provided direct and indirect employment to many Ghanaians, reduced poverty and given goodwill … Read more
The Bank of Ghana’s latest Average Interests (IA) on deposits report released shows a decrease in the average minimum interests to be paid annually on deposits of customers’ funds logged at commercial banks in the country between May and September 2016. Figures from the central bank indicates a decrease from 12.3 percent to 12.2 percent. … Read more
The Bank of Ghana’s latest Average Interests (IA) on deposits report released shows a decrease in the average minimum interests to be paid annually on deposits of customers’ funds logged at commercial banks in the country between May and September 2016. Figures from the central bank indicate a decrease from 12.3 percent to 12.2 percent. … Read more
The latest Annual Percentage Rates (APR) and Average Interests (AI) on deposits report released by the Bank of Ghana shows that the average minimum interest rates that can be charged on loans and advances by commercial banks in the country has increased marginally between May and September this year. The figure increased from 27.5 percent … Read more
Some commercial drivers within the Accra metropolis have threatened to embark on strike on Monday, September 19, in protest against the introduction of the Bus Rapid Transport (BRT) system. The drivers, who operate under a new union known as the Committed Drivers Association (CDA), have complained that the BRT will eventually drive them out of … Read more
Fidelity Bank beat competition from 27 other local and international banks to pick up the coveted prize. The bank was also adjudged the Best in Corporate Social Responsibility and Best Trade Deal. Fidelity’s Deputy Managing Director, Jim Baiden said the award is timely as the company celebrates 10 years of hard work in Ghana’s banking … Read more