The International Monetary Fund (IMF) says Ghana’s current inflation target range of 8±2% is relatively high compared to its peers in sub-Saharan Africa (SSA). This is clearly attributed to its high-interest rates on the continent. Ghana’s yield of about 14 and 15% on Treasury Bills and 24% average lending rate …
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The Head of Currency Management at the Bank of Ghana, John Gyamfi, says the Central Bank for the foreseeable future will continue to print Ghana’s currency notes with well-proven and trusted international companies as local firms lack the capacity to execute such jobs. The comment follows the revelation that the …
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President Nana Akufo-Addo has tasked the Governor of the Bank of Ghana, Dr Ernest Addison, to deal with the issue of high interest rates in the country. Addressing the CEOs Executive Forum in Accra on Wednesday, 6 November 2019, the President said: “I have requested the Governor of the Bank …
Read More »The Bank of Ghana has dismissed one of its staff, Mr Gilbert Addy, for allegedly engaging in bribery and corruption. “The Bank of Ghana has today dismissed an official, Mr Gilbert Addy, for gross misconduct in relation to corrupt transactions and for accepting bribes in connection with the award of …
Read More »Bank of Ghana has closed down 23 Savings and Loans companies, Starrfm.com.gh can reveal. Documents available to Starrfm.com.gh contain some heavy weights in the savings and loans sector such as Midland, Ideal, uniCredit and Global Access whose licenses have been revoked after a review exercise in the past months. According …
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The Bank of Ghana (BoG) last year recorded a loss of GHS793 million resulting from its operations, the bank’s 2018 Annual Report, has shown. The figure represents a more than 50 percent drop from the GHS1.6 billion the bank made in 2017 when the troubles from the banking sector were …
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