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Inflation drops marginally for first time in 2019

June 14, 2019 The general price levels of goods and services has dropped marginally for first time since beginning of the year, the Ghana Statistical Service (GSS) data have shown. The GSS release,...

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June 14, 2019 / Comments (0)

Exporters encouraged to repatriate export proceeds

June 14, 2019 Exporters have been encouraged to repatriate proceeds from merchandise exports in compliance with the provisions of Section 15 of the Foreign Exchange Act, 2006 (Act 723) which relates to...

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June 14, 2019 / Comments (0)

BoG collapses 400 microfinance, microcredit companies

June 3, 2019 The Central Bank has revoked the licences of more than 300 microfinance companies and 39 microcredit or money lending companies effective Friday, May 31, 2019. In two statements released on...

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June 3, 2019 / Comments (0)

BoG secures GH¢900m to sanitise microfinance sector

May 28, 2019 The Bank of Ghana (BoG) has received GH¢900 million to undertake a clean-up of the troubled microfinance sub-sector of the financial services industry. The move is part of cleaning up the...

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May 28, 2019 / Comments (0)

Poor records and non-existent data pose challenge to debt recovery – Governor

May 24, 2019 Dr. Ernest Yedu Addison, Governor of the Bank of Ghana, has stated that poor records and non-existent data has become a major challenge for receivers of the nine collapsed banks to recover...

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May 24, 2019 / Comments (0)

Banking sector outlook positive—BoG

May 23, 2019 The banking sector remains robust with strong growth prospects in various operational areas, the latest Banking Sector Report by the Bank of Ghana (BoG) has revealed. Given the liquidity in...

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May 23, 2019 / Comments (0)

BoG woo investors to the financial sector

May 6, 2019 The Bank of Ghana (BoG) has said the current macro-economic gains coupled with recent regulatory changes introduced to the financial sector provides several opportunities for investors to...

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May 6, 2019 / Comments (0)

Banks’ average lending rate inches up, hits 27.8%

April 25, 2019 Even though the country’s policy rate has been trending downward for the past two years and banks are now using the Ghana Reference Rate – a formula that allows the policy rate to...

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April 25, 2019 / Comments (0)

BoG bares teeth – Warns forex bureaux to conform to rules

April 25, 2019 The Bank of Ghana (BoG) says it will crack the whip on recalcitrant forex bureau operators who fail to comply with the laws governing forex trading in the country. The clampdown, which will...

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April 25, 2019 / Comments (0)

BoG seeks GH¢7bn support for savings and loans companies

April 15, 2019 After cleaning up the banking sector, the Bank of Ghana (BoG) is now set to raise GH¢7 billion from the government to support distressed savings and loans companies and other finance...

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April 15, 2019 / Comments (0)