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BoG aims to strengthen cedi’s local performance BoG to invite bidding on separate days BOG to publish auction calendar quarterly The Bank of Ghana has announced that it will auction $450 million in the first quarter of this year. According to the Central Bank, the move is expected to help strengthen the …
Read More »BOG’s argument to me doesn’t justify astronomically high monetary policy rates – Togbe Afede
This article is a rejoinder to Bank of Ghana, BOG’s press statement headlined, “Responses to Issues Raised by Togbe Afede XIV (TAXIV) on High Interest Rates in Ghana”. During the courtesy call on me by the Rt. Hon. Alban Bagbin, Speaker of Parliament, on November 20, 2021, I spoke against …
Read More »BoG warns against fraudulent money doubling scheme dubbed ‘Worldremit’
The Bank of Ghana (BoG) has warned of a money-doubling scheme operating in Ghana under the pseudo name “Worldremit”. “This fraudulent scheme is distinct from the globally renowned Fintech, “’WorldRemit’ which is in the business of international fund transfers,” the BoG said in a statement. The central bank explained that …
Read More »5-year jail term awaits repetitive dud cheque issuers – BoG
It is an offence punishable by a fine and/or imprisonment of up to five years to issue a dud cheque, the Bank of Ghana has warned the general public. The central bank said in its financial literacy education series that people must always ensure there is enough funds in their …
Read More »BoG buys first gold in 60 years
For the first time in about 60 years, the Bank of Ghana (BoG) has purchased gold to augment its gold reserves and shore up the country’s foreign assets. The bank bought 280 kilogrammes of the precious metal this year under a historic gold purchase programme meant to double its gold …
Read More »VIDEO: BoG to phase out GH¢1, GH¢2 notes soon
• The GH¢1 and GH¢2 notes will be replaced by its respective coins • This is because the notes, after widely being circulated, come back weak and torn • This was made known by the Governor of the Bank of Ghana Bank of Ghana Governor, Dr Ernest Addison, has disclosed that very soon, …
Read More »FULL TEXT: Second Deputy BoG Governor’s address at WIT business incubator programme
Her Excellency Harriet Thompson, British High Commissioner Members of the Board of Directors, Standard Chartered Bank (Ghana) Mrs. Mansa Nettey, Chief Executive, and the Management Team, Standard Chartered Bank (Ghana) The President of Ashesi University Invited Guests, Distinguished Ladies and Gentlemen On 30th November 2020, I had the singular honour …
Read More »BoG directs momo operators, fintechs, others to provide credit info of clients
The Bank of Ghana has directed telecommunications companies, financial technology companies, mobile money operators, utility providers, among other organizations to provide information on the credit behaviour of borrowers to curb risk associated with lending. Other organizations required to also provide information about their clients to the Credit Reporting System (CRS) …
Read More »Supreme Court dismisses suit against BoG filed by Association of Finance Houses
In December 2018, the Bank of Ghana (BoG) issued a Corporate Governance Directive, pursuant to its powers under sections 56 and 92(1) of the Banks and Specialised Deposit-Taking Institutions Act, 2016, Act 930. The Association of Finance Houses, in November 2020, brought an action at the apex court challenging the …
Read More »FULL TEXT: BoG Governor’s address at GNCCI CEO Business Forum
Hon. Minister for Trade & Industry, Alan Kwadwo Kyerematen, The President of the GNCCI, Council and Members of GNCCI, Chief Executive Officers, Distinguished Panellists, Invited Guests and Participants, It is a pleasure and a great privilege for me to be invited to address the Members of the Ghana National Chamber …
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