June 23, 2017

Bank of Ghana to auction GH¢1.1 bn in T-Bills today

The Bank of Ghana (BoG) will today Friday June 23, 2017 auction GH¢1.10 billion worth of short-term treasury securities. The Bank has therefore asked investors to submit their bids by 13:00 GMT today. Meanwhile financial analysts are hopeful that the majority of  the amount to be raised today will be from the popular 91 day […]
June 20, 2017

Jubilee Field shutdown slows down cost of production

The shutdown of the Jubilee Field has reduced the countries oil and gas production by 40%. This was revealed in auditor’s general report to Public Interest Accountability Committee. According to the report, there was a 13.7% year-on-year decline in crude oil production with annual production dropping from 37.41 Million Barrels in 2015 to 32.30. In […]
June 20, 2017

Gov’t rules out possibility of extending IMF deal

The government is set to take a crucial decision on whether it will extend the three-year Extended Credit Facility (ECF) with the International Monetary Fund next month. A team from the Fund is already in town to review data on the economy, with the aim of using the findings to reach a conclusion on the […]
June 20, 2017

Banks rush for Accra’s skyline complex offices

No bank wants to be left behind; it is as if the height of the building is a statement in itself, and so the competition for the tallest head office complex in Accra is becoming keener and keener by the minute. Whilst some have long been operating from ultra-modern head office complexes, several other banks, […]
June 20, 2017

Ecobank supports blood donation efforts

On the occasion of World Blood Donor Day, Ecobank Foundation and Ecobank Ghana took to social media to create awareness on the importance of donating blood to save lives. The Chief Executive Officer of Ecobank Foundation, Ms. Julie Essiam and the Managing Director of Ecobank Ghana, Mr Dan Sackey, both encouraged Ghanaians to make blood […]
June 20, 2017

Heritage Bank promises world class services

The Managing Director of Heritage Bank, Mr. Patrick Fiscian, has promised that his outfit is ready to provide customers with world class banking services that will ultimately translate to convenience for their customers and make it possible for them to fulfil their goals and aspirations. He said this at the opening of the bank’s East […]
June 20, 2017

Chamber of Commerce rallies support for ‘one district, one factory’ initiative

The President of the Ghana National Chamber of Commerce, Nana Appiagyei Dankawoso, has lauded government’s industrial policy initiative of One District One Factory, which seeks to stimulate industrialization and ensure spatial spread of industries across the country. Government through the Ministry of Trade and Industry is said to have released about GHS465 million to kick-start […]
June 20, 2017

Beige capital now Beige Bank

BEIGE, the financial services provider, wishes to announce to the general public that its subsidiary, BEIGE Capital Savings and Loans (BCSL) has secured final approval to operate as a Universal Bank. This final license follows BCSL’s satisfaction of all the licensing requirements of the Bank of Ghana. BEIGE’s banking subsidiary will be called The BEIGE […]
June 19, 2017

Oil production declines by 13.7%

Oil production dipped by some 13.7percent in 2016, from 37.41million barrels in 2015 to 32.30 million barrels, in spite of the coming of stream of the TEN field in August 2016 to augment production at jubilee. In its 2016 annual report, released Thursday, the Public Interest and Accountability Committee (PIAC), which has the mandate to […]
June 19, 2017

No bank must be left behind – CIB urges

The Chartered Institute of Bankers (CIB) is urging the Central Bank to consider a tiered recapitalization policy that will enable smaller-sized banks meet the eagerly awaited increment in the industry’s minimum capital requirement. President of the CIB, Patricia Sappor, argued that this approach will ensure that banks are able to serve different segments of the […]
June 19, 2017

TEN gas wastes away whilst $952m required for fuel this year

Gas from the Tweneboah, Enyenra and Ntomme (TEN) field is being flared due to pipeline infrastructure delays that characterised the evacuation of gas from the Jubilee Field. Meanwhile, an estimated $952 million is required this year to purchase light crude oil, natural gas, heavy fuel oil and diesel to run thermal plants based on a […]
June 5, 2017

Bank Buildings may not be fully functional or in existent in the next 15 years – Andani

Innovation and technology are gradually taking ground in the Ghanaian banking sector, with many banks utilizing technology to make banking faster and easier for their customers.Speaking on JOYNEWS’ business leadership program the Executive Lounge, CEO of Stanbic Bank Ghana Alhassan Andani, said looking at the trends of technology in the financial sector, in the next […]
June 5, 2017

GCB Bank shareholders shoot down pay increase for Board of Directors

Shareholders of GCB Bank unanimously shot down the decision by board members to increase the annual salaries for all Directors of the Board from a total of GHS2. 5 million to GHS4.5 million. The shareholders said they were not given enough notice and also the company did not have adequate funds for such increments. This happened […]