Ghana’s financial sector is in crisis. A crisis occasioned by the collapse of over 300 financial institutions; and which has affected every division of the financial sector. Universal banks, savings and loans companies, microfinance companies, capital market institutions, and insurance companies have been impacted. While majority of the collapsed institutions were licensed and regulated, a […]
MTN MobileMoney Limited has encouraged subscribers to use MoMo for all kinds of payments to reduce the use of cash in this period of COVID-19.
The Member of Parliament (MP) for Bolgatanga Central, Isaac Adongo, has charged the Ministry of Finance to work very close with the Bank of Ghana (BoG) and other state agencies to strengthen the country’s financial system with robust anti-money laundering regulations to combat anti-money laundering and counter-terrorist financing.
The Court of Appeal on Monday, June 22, 2020 dismissed an application from the Bank of Ghana (BoG), which was challenging the jurisdiction of the High Court over the revocation of GN Savings operating license.
The Minority Caucus has served a note of caution to the Minister of Finance and the Governor of the Bank of Ghana (BoG) to get prepared for trial immediately there is a change in government.
Despite receiving some financial help from the International Monetary Fund, the World Bank and the Stabilization Fund of the country amounting to US$1.569billion, Ghana still needs GH₵17.9billion to address its fiscal gap as a result of the impact of the novel Coronavirus (COVID-19), the Finance Minister, Ken Ofori-Atta has revealed.
The Human Rights Division of the Accra High Court presided over by Justice Gifty Agyei Addo has dismissed an application by the Bank of Ghana (BoG) seeking to halt proceedings in a case initiated against it by HODA Holdings. The BoG was challenging the decision of the High Court that dismissed their claim earlier that […]
The Bank of Ghana (BoG) has fined the Barclays Bank of Ghana an amount of GH₵4,579,256.32 for making frivolous quotes on Ghana’s Interbank Foreign Exchange Market. The action of Barclays Bank, according to the Central Bank, is in breach of the Ghana Interbank Forex Market Conduct Rules. A statement dated Monday, June 3, 2019, and […]