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 […]
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.
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 […]