NCA to automate licence renewal Process


The National Communications Authority (NCA) says it will soon automate the license renewal process to ensure a smooth and fast process for internet service providers and media houses. The Authority stated that it has conducted a nationwide audit for Radio and Broadcast stations and is currently conducting an audit for the service providers. The Acting Chief Executive of the NCA, ...

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Fix weaknesses in banking sector – Nana Addo to BoG


President Nana Akufo-Addo has charged the Bank of Ghana to address the weaknesses in the banking sector. According to him, such moves will prevent any adverse spillover effect on the economy. Speaking at the 60th anniversary lecture organized by the Bank of Ghana in Accra on Friday, Akufo-Addo said: “a weak banking system undermines growth and on and this basis, ...

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Pilot of paperless port systems kicks off today


Effective Friday, August 18th 2017, all agencies at the country’s ports will pilot the paperless clearing process ahead of official takeoff next month. The exercise is among others to identify the potential shortfalls and address them for a seamless transaction on September 1, 2017. According to officials, the pilot has become apparent considering the completion of the basic background work. ...

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Banks collapse: BoG’s actions appropriate – Ken Thompson

CEO of Dalex Finance, Ken Thompson

The Chief Executive Officer (CEO) of Dalex Finance, Ken Thompson is in support of the Bank of Ghana’s (BoG) move to probe and sanction officials whose activities led to the collapse of the UT and Capital Banks. “I think the Bank of Ghana is going about it the right way,” he said to Citi News after the BoG announced a ...

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What to know about Capital Bank’s collapse (Audio)


Capital bank, an indigenous bank that transformed from a Savings and Loans Company has been taken over by GCB Bank in a purchase agreement. It is emerging that the writings were clear on the wall a couple of years before this. What probably went wrong leading to this situation? The audio below gives some possible explanations. – By: Pius Amihere ...

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What to know about UT Bank’s collapse (Audio)


The Bank of Ghana on Monday, August 14, 2017 granted permission to GCB Bank to takeover some assets and liabilities of UT Bank. The Central bank explained that the move has become apparent due to efforts to consolidate the country’s financial sector. But what reasons led to the collapse of the indigenous bank? The audio below chronicles the event leading ...

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High fiscal deficit unattractive for long term bonds – Razia Khan


Government would have to work to reduce its fiscal deficit in the short to medium term else risk investment ditching its long term bonds. This is the caution from the Chief Economist for Africa Global Research at Standard Chartered Bank, Razia Khan. According to her, the government would need to readjust its debt management strategy at the point where it ...

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Researchers predicted Ghanaian banking crises


A stress test of Ghanaian banks conducted by two researchers, Anthony Q. Q. Aboagye and Effa Ahenkora, had predicted that three Ghanaian banks would collapse under severe stress. In a study which assessed the capacity of Ghanaian banks to absorb large but plausible losses resulting from concentration of individual bank loan portfolios in key sectors of the Ghanaian economy, the ...

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UT was riskiest bank on Stock Exchange – Study


UT Bank was found to be the most at-risk bank in Ghana listed on the stock exchange, before its collapse, in a 2016 study by Eric Dei Ofosu-Hene of the University of Ghana Business School and Peter Amoh of FinRisk Solutions. The research (which can be found here) indicated that indigenous banks were more at risk than foreign owned banks, possibly, because the ...

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Six companies shortlisted for railway dev’t


Government has begun processes to commission feasibility studies to construct railway lines to connect to the various agricultural producing areas. According to government, six companies have been shortlisted for the contract. President Akufo-Addo upon assumption of office, identified the railways as an important economic infrastructure hence the creation of a separate ministry to that effect. Addressing an audience at a ...

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