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Author Archives: Pius Amihere Blay

Deposits still major source of funds for banks – BoG report

Customer deposits still remain a major source of revenue for commercial banks. As a result, commercial banks also bear greater responsibility to their customers in earning interests on such deposits. The latest banking sector report by the Bank of Ghana shows that deposits accounted for 62.5 percent of the banking industry’s assets as at December 2017. According to the central ...

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Local businesses worst loan defaulters in 2017 – BoG report

Bank of Ghana

Local private businesses were the worst culprits in repaying loans taken from commercial banks for 2017. According to the Bank of Ghana, the businesses constituted 80.6 percent of loan default attributable to the private sector for last year compared to the estimated 7.9 percent of loan default attributable to the private sector recorded by foreign businesses. This is among the ...

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New electricity bills to start with second purchase in April – ECG

It is emerging that the much anticipated reduction in electricity tariffs may take a bit longer than expected. This is because the Electricity Company of Ghana (ECG) has explained that the reduction will only reflect on the bills of consumers when they make their second purchase of credit for electricity for April. The latest also follows the shift of the ...

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Fuel crisis looms over cartel in petroleum industry – BOST workers

The Senior Staff of the Bulk Oil Storage and Transportation Company (BOST) are predicting a shortage in fuel following what they say is the continuous interference by a cartel in the company’s activities. Secretary of the Senior Staff Association of BOST, Ekow Sey claims that some Bulk Oil Distribution Companies (BDCs) and highly placed individuals, who form the cartel, have ...

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32 banks fail to comply with financial statement publication rules (Article)

Bank of Ghana

If there’s one thing I’ve learned over the years, it’s that little/small things matter. When I moved out of Ghana to US and Canada, one thing that I have seen separate Ghana from those two countries is that the little things matter. Sometimes we blame other people for the state of affairs of our country, but I think 99% of ...

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Barclays Bank Ghana posts GH¢386m in profits in 2017

Barclays Bank Ghana is confident of sustaining its profits and contribution to the new ABSA brand from this year onwards. The Bank’s optimism is premised on its performance for last year (2017) where it recorded a profit after tax of 386.17 million cedis. The Finance Director at Barclays Bank Ghana, Antoinette Kwofie disclosed this plan when she engaged journalists to ...

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Karpower deal extension: IES warns of rise in power cost (Audio)

The Institute of Energy Security (IES) is cautioning of an eventual increase in the cost of power generated from the Karpowership over the continuous payment of capacity charges. The IES believes this will also defeat the immediate claims by the government of reducing the cost of power produced from the power barge. The comments come on the back of government’s ...

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Airtel Tigo joins calls for 5G network in Ghana

The Chief Executive Officer of Airtel Tigo, Roshi Motman has called on the National Communications Authority (NCA) to work towards the acquisition of a 5G Spectrum in the country to reflect the evolving communication space in the world. According to her, the NCA has not been clear on its policy direction towards improved internet coverage in the country. Madam Motman ...

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BoG stops unwarranted loans to ‘cronies’ with new corporate rules

Directors of banks and other specialized deposit taking institutions cannot operate without disclosing their interests in their places of work. Also, the central bank has directed the full disclosure of conflict of interest guidelines by such institutions to tame adverse impacts of delayed loan repayments. The rules are part of new corporate governance directives issued by the Bank of Ghana ...

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Airtel Tigo integrate mobile transfer platforms

Customers of Airtel Money and Tigo Cash will by the end of April 2018, be integrated onto a single platform to allow for mobile money transactions. This is according to the CEO of Airtel Tigo, Roshi Motman. The move which will make them the second biggest mobile money operator in the country also forms part of the integration of the ...

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