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Author Archives: Lawrence Segbefia

APR of interest hits 28%- BoG

The Bank of Ghana has released its latest data on Annual Percentage Rates (APR) of interest charged on loans and credit advances and the Average Interest (DI) paid on deposits by banks. The data is based on figures available as at 30th November, 2016. According to the data, the industry average base rate as at November 30, 2016, was 28 ...

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Ministry of Gender wins Imani Inspirational Public Sector Leadership Awards

The Ministry of Gender, Children and Social Protection, has been adjudged the most inspirational public institution for 2016 in the Imani Inspirational Public Sector Leadership Awards (IPSLA). The Electoral Commission, the Ministry of Health , the National health Insurance Authority and the National Commission for Civic Education won the second, third , fourth and fifth positions respectively. Speaking to Citi ...

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NLA debunks false report about its operations

The Board and management of the National Lottery Authority (NLA) have indicated that their attention has been drawn to some reports in the media suggesting that all is not well with the Authority. NLA, in a press release issued  in Accra and signed by Emmanuel Oscar Ameyedowo, Board Chairman, indicated, “We wish to state unequivocally that such speculations are unfounded and ...

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‘I’ll strengthen fiscal discipline to protect public purse’- Nana Akufo-Addo

President-Elect, Nana Addo  Dankwa Akufo-Addo  has stated that he will anchor fiscal  and financial policies to strengthen discipline in the usage of public funds. According to him, the current fiscal regime is weak, allowing public officials to mismanage the country’s scarce resource at the detriment of the poor and vulnerable in society. Describing the Public and Financial Management Act passed ...

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My govt will not compete with the private sector- Nana Addo assures

The President Elect Nana Addo Dankwa Akufo-Addo  has promised members of the Private Enterprise Federation(PEF) that his administration will not compete with the private sector for funds. According to him, constant competition from government in the market is the cause of high interest rates, increasing the cost of capital in the country. Speaking to members of the Federation, Nana Akufo-Addo ...

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Zenith Bank partners Mastercard to deepen cashlite economy

As part of efforts aimed at enhancing Ghana’s drive to attain a cashlite economy, Zenith Bank Ghana has partnered with Mastercard to launch the Zenith bank Mastercard credit, debit and prepaid cards. The electronic chip-based smart cards will allow customers to make withdrawals from all over the world and also pay for goods and services. Speaking t Citi Business News ...

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‘Ghana is not living from hand to mouth’- Terkper

As the Nana Akufo Addo administration prepares to come into office, Finance Minister Seth Terkper has insisted that Ghana is not broke since the nation has enough funds in stock to consolidate the economic gains of the outgoing Mahama administration. According to him, the country is not living on what he describes as “hand to mouth”, since there are enough ...

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‘Calm down’ – Official Liquidator appeals to agitated DKM customers

The Registrar General’s Department is calling for calm among DKM customers whose names did not appear on yesterday’s payment list. This follows agitations from customers who were expecting their locked up funds in the company but did not find their names on the lists at the eight designated branches of GCB bank where the payments were scheduled to take place. ...

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IMF chief Christine Lagarde convicted over payout

A French court has found International Monetary Fund chief Christine Lagarde guilty of negligence but did not hand down any punishment. As French finance minister in 2008, she approved an award of €404m ($429m; £340m) to businessman Bernard Tapie for the disputed sale of a firm. Lagarde, who always denied wrongdoing, was not present in court, having left France for ...

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DKM customers to be paid today

Validated customers of DKM Microfinance company with outstanding claims are expected to be paid monies owed them today. The assurance was contained in press statement released by the official liquidator, the Registrar General’s Department. The Registrar General’s Department, earlier told Citi Business News the payment was rescheduled from Wednesday 14th December to today 19th December due to logistical challenges. Meanwhile, ...

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