The media launch for the maiden Ghana Amputee Football league has taken place at the Accra Sports Stadium, where stakeholders were taken through rules of the game. The league would be played in four regions, with eight teams to participating. The Greater Accra, Ashanti Region, Eastern Region and Central Region were the selected regions for … Read more
The average interest offered by banks on customer deposits dropped by 2.67 percent between May and June 2017. According to the latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana, the figure declined from 11.2 to 10.9 percent within the one month period. Although its rate has dropped marginally, Omnibank … Read more
The average interest offered by banks on customer deposits increased by 1 percent between March and April 2017. According to the latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana, the figure went up from 11.2 percent as at the end of March 2017 to 11.3 percent as at … Read more
A 45-year-old businessman was on Monday afternoon gunned downed by two suspected robbers near the Tema Oil Refinery Traffic Light. The two suspected robbers, who were riding an unregistered motorbike, shot the deceased identified as Wahab Mohammed in the head and bolted with an unspecified amount of money. The deceased and his brother Issahaku Suraj, … Read more
A 45-year-old businessman was on Monday afternoon gunned downed by two suspected robbers near the Tema Oil Refinery Traffic Light. The two suspected robbers, who were riding an unregistered motorbike, shot the deceased identified as Wahab Mohammed in the head and bolted with an unspecified amount of money. The deceased and his brother Issahaku Suraj, … Read more
A scrap dealer believed to be in his mid 40’s was on Monday afternoon gunned down by unidentified gun men around the Tema Oil Refinery (TOR). Narrating the facts, the Community One District Police Commander, Supt. Stephen Kwakye, noted that “the police had information that a young man has been shot dead at the TOR … Read more
In the third of our series on companies’ performances in 2016, we throw the spotlight on Zenith Bank today. In 2016, Zenith Bank’s profits went up by 69 percent. The figure increased from GH¢83,076,943 to GH¢140,265,212 between 2015 and 2016. Zenith Bank’s profits went up in 2016 after recording a drop in profits between 2014 and … Read more
Frank Adu Jnr, Managing Director of CAL Bank, has proposed an increment in the current minimum capital requirement for universal banks from GH¢120million to US$200million, to create larger banks that can undertake big-ticket transactions. This, according to him, would enable banks finance massive infrastructural developments such as airports, bridges, roads, ports and harbours. “I think … Read more
Commercial banks in Ghana would have to increase their minimum capital for operation to at least 200 million cedis. This follows the revision of the minimum capital requirement by the Bank of Ghana. The new figure will represent close to a hundred percent increase in the current minimum capital requirement of 120 million cedis. Some … Read more
The Bank of Ghana (BoG) is to implement new corporate governance guidelines for the banking sector next month, as it seeks to ensure that proper corporate governance practices are entrenched. The new guidelines will see the capping of the tenure of CEOs at a maximum of three 5-year terms. The tenure of non-Executive Directors is … Read more
The Bank of Ghana (BoG) is to implement new corporate governance guidelines for the banking sector next month, as it seeks to ensure that proper corporate governance practices are entrenched. The new guidelines will see the capping of the tenure of CEOs at a maximum of three 5-year terms. The tenure of non-Executive Directors is … Read more
The Bank of Ghana (BoG) is to implement a new corporate governance guidelines for the banking sector next month, as it seeks to ensure that proper corporate governance practices are entrenched. The new guidelines will see the capping of the tenure of CEOs at a maximum of three 5-year terms. The tenure of non-Executive Directors … Read more
The Bank of Ghana (BoG) is to implement new corporate governance guidelines for the banking sector next month, as it seeks to ensure that proper corporate governance practices are entrenched. The new guidelines will see the capping of the tenure of CEOs at a maximum of three 5-year terms. The tenure of non-Executive Directors is … Read more
The Bank of Ghana’s decision to peg the new minimum capital requirement for commercial banks at an estimated 260 million cedis should culminate in mergers and deepen the financial sector. This is the position of the Managing Director of Zenith Bank, Henry Oroh. He explains to Citi Business News banks should also be able to … Read more
The Bank of Ghana’s decision to peg the new minimum capital requirement for commercial banks at an estimated 260 million cedis should culminate in mergers and deepen the financial sector. This is the position of the Managing Director of Zenith Bank, Henry Oroh. He explains to Citi Business News banks should also be able to … Read more
Financial institutions operating in the country have with immediate effect stopped charging 17.5 percent Value Added Tax (VAT) on all financial services. The decision is in pursuant to the Value Added Tax Amendment Law (Act948, 2007). Banks such as Access Bank, Ecobank, Unibank, CAL, UMB Bank and Zenith Bank, among others, have sent text messages … Read more
The average interest rate for mortgage loans among commercial banks reached 33.8 percent in March 2017. The figure recorded a 2 percent increase as compared to the 33.6 percent recorded at the end of February 2017. According to the Bank of Ghana’s Annual Percentage and Average Interest report, GCB Bank still offers the highest interest … Read more
The average interest rate for mortgage loans among commercial banks reached 33.8 percent in March 2017. The figure recorded a 2 percent increase as compared to the 33.6 percent recorded at the end of February 2017. According to the Bank of Ghana’s Annual Percentage and Average Interest report, GCB Bank still offers the highest interest … 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
The industry average for vehicle loans has however dropped from 35 percent in February to 34.2 percent in March 2017, the latest Annual Percentage Rates and Average Interest report by the Bank of Ghana has shown. The report however shows that GCB Bank offers the highest rate on vehicle loans at 40.3%. Bank of Baroda … Read more