New figures released by the Bank of Ghana (BoG) reveal demand for loans for house purchase by customers of banks have reduced despite an ease in credit access by commercial banks. Banks in July 2016 eased their credit stance to households for house purchase and consumer credit. Despite the move demand for mortgages saw a … Read more
Ghana’s quest to reduce the almost 2 million housing deficit may take a long time as interest on mortgage loans continue to rise. According to latest average interest and Annual percentage report released by the Bank of Ghana, interest on home loans increased marginally from 30.6 to 31.5 percent between May and September this year. … Read more
The International Monetary Fund (IMF) has pressed on government to strictly follow roadmaps designed to wean state owned power companies off debts. According to the IMF, its recent discussion with government also focused on ascertaining the financial pressures faced by the main State Owned Enterprises (SOEs) in the energy sector. Currently, the Volta River Authority … Read more
The Ministry of Finance, the Bank of Ghana (BoG), and the Ghana Bankers Association have announced plans to pay the legacy debt owed in the power sector. According to the Ministry of Finance, government has arranged with the Bank of Ghana to create an escrow account to transfer 250 million cedis to settle part of … Read more