Banking & Finance

HFC Unit Trust and REIT hold AGM


The HFC Unit Trust and Real Estate Investment Trust (REIT) Funds, both recorded marginal gains at the close of December 2016. This was due to the active re-balancing strategy measures put in place by the fund managers to cushion them against the negative macroeconomic indicators. Mr Peter Larbi-Yeboa, the Fund Managers for both investment portfolios, said the net fund value ...

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StanChart shareholders approve GHȼ60 million transfer to Stated Capital

Standard Chartered

Standard Chartered Bank Ghana Limited says it will transfer GHȼ60 million from its retained earnings to its Stated Capital in compliance with the minimum capital requirement set by the Bank of Ghana. The Banks and Specialised Deposits Taking Institutions Act 2016, (Act 930) requires all Banks to have a minimum paid up capital of GHȼ120 million. There are however speculations ...

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Bank buildings will be non-existent in 15 years – Andani

Innovation and technology are gradually taking ground in the Ghanaian banking sector, with many banks utilizing technology to make banking faster and easier for their customers. Speaking on JOYNEWS’ business leadership program the Executive Lounge, CEO of Stanbic Bank Ghana Alhassan Andani, said looking at the trends of technology in the financial sector, in the next ten to 15 years, ...

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Barclays PLC reduces its African stake to 23.4%

Barclays PLC

Barclays PLC has reduced its shareholding in Barclays Africa to 23.4%. On Thursday, Barclays Africa announced that following the completion of South Africa’s largest bookbuild in South African Rands, Barclays PLC has sold 33.7% of Barclays Africa. The issued share capital was at a price of R132 per share. A statement from the bank and copied to Citi Business News ...

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The Construction Bank to give relief to real estate sector

A new bank, with focus on construction, infrastructure and mortgage financing, will begin operations today after it secured a licence from the Bank of Ghana (BoG) earlier this year. The bank is expected to bring relief to the construction and real estate sector, after years of calls for a specialised bank for mortgaging financing failed to yield results. Although it ...

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Dr. Duffuor II appointed MD of uniBank

Dr Duffour II

The Board of uniBank has appointed Dr Kwabena Duffour II as its new Managing Director, according to a report from Citi business news, today May 29, 2017. A letter signed by the Chairman of the Board of Directors, Mr Opoku-Gyamfi Boateng stated that the appointment takes effect from the 1st of June, 2017. Prior to his appointment Dr Duffour II ...

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