The future of banks that are majority owned by domestic private interest in Ghana can be challenged in the not distant future due to the strict application of the Basel II and III standards.
Research on local ownership of banks as against foreign ownership across Africa showed Cote D’Ivoire, Nigeria...
Dr Ernest Kwamina Yedu Addison, the Governor of the Bank of Ghana (BoG), has bemoaned the low credit facility extended to small and medium-scale enterprises (SMEs) and the agricultural sector by banks and urged financial institutions to develop innovative products for the two sectors.
He said as at September this...
The Value Added Tax Amendment bill that will see the removal of taxes on lottery earnings has been laid before Parliament by the Deputy Finance Minister, Kweku Kwarteng.
Government hitherto collected 5% tax imposed on all lotto winnings exceeding GH₵2,592, following a re-classification of lotto as an investment activity under the...
A traditional ruler, Daniel Nii Arde Tagoe, has urged government to introduce more innovation into the agriculture sector in a bid to attract the youth and curb the rising unemployment in the country.
Even though he lauded government’s efforts and initiatives regarding agriculture in the 2018 Budget Statement, he also...
Odebrecht Engineering and Construction International has awarded four outstanding Civil Engineering students of the Kwame Nkrumah University of Science and Technology (KNUST) in their first, second, third and final years. The Odebrecht Ghana Engineering Awards was instituted at the College of Engineering in 2014 by the company.
The Odebrecht Engineering...
Indigenous airline, Africa World Airlines (AWA), the only airline currently providing domestic air services in the country, has increased its flight frequency between Accra and Kumasi, and Accra-Tamale, to help meet the increased demand.
This follows the suspension of operations of Starbow–the second domestic airline operator.
AWA has increased its Accra-Kumasi-Accra...
The central bank has endorsed plans by government to merge the operations of ADB and the National Investment Bank (NIB) to meet the new GHS400 million minimum capital requirement.
Dr. Ernest Addison told the press on Monday that he sees nothing wrong with government’s plans to merge the operations of...
Majority of Ghanaians want stiffer punishment for corrupt public officials, including jail time, restitution of stolen funds, and public shaming, according to a new Afrobarometer survey.
Findings show widespread popular perceptions of corruption in both government and private-sector leadership, with the police and judges most widely seen as corrupt.
But public...
The economy does not need another development bank along the lines of the Agric Development Bank (ADB) and the National Investment Bank (NIB), Kenneth Kwamena Thompson of Dalex Finance has said.
Reacting to government’s intention to set up a “national development bank” to “mobilise private capital toward agricultural and industrial...
As though the 550-basis points cut seen in 2017 was not enough, South African-based RMB Research believes the central bank has more wriggle room to further trim its policy rate by between 200 and 300 basis points in 2018, which could trigger aggressive lending rate cuts.
In its reaction to...