Banking & Finance

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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Government urged to review corporate taxes on rural banks

corporate taxes on rural bank

Mr Vincent Blaychie Essien, Chairman of the Board of Directors of the Ahantaman Rural Bank Limited said the imposition of the high rate of corporate taxes on rural banks was gradually affecting the operations of most rural banks in the country. He said, per their mandate, rural banks were supposed to alleviate poverty and build up the economic livelihoods of ...

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Extending IMF deal: Ghana, IMF to decide next month

IMF

Government’s decision on a possible extension of the IMF deal is likely to be concluded next month. This is the indication from the Chairman of Parliament’s Finance Committee, Dr Mark Assibey Yeboah. His comments come at a time that discussions on a possible extension of the deal have been on top of the agenda between the government and the IMF. ...

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Banking population to increase to 75% by 2020-Finance Ministry

Equity -Banking Population

The Ministry of Finance has set a target to increase the country’s banked population from 58% to 75 % by the year 2020. In line with the target, the ministry will in June this year launch a National Financial Inclusion Strategy targeted at financial literacy, a key tool for financial inclusion. According to the ministry, most people shy away from ...

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BoG Governor Dr. Issahaku resigns

BOG Governor Central Bank

The Central Bank Governor, Dr Abdul  Nashiru Issahaku has resigned. Citi Business News has gathered his resignation takes effect from the 1st of April, 2017. It’s unclear what led to his resignation but the Governor is reported to have cited personal reasons for the move. Dr. Issahaku was appointed Governor of the Bank of Ghana by former President, John Mahama in April, ...

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