The Ghana Stock Exchange (GSE) has, with effect from Monday, September 11, 2017, suspended the listing status of African Champion Industry Limited (ACI) and Golden Web Limited (GWEB). ACI, according to a statement from the GSE, has failed to publish its audited financial statements for year-ended December 2015 and 2016...
The central bank has decided to increase the minimum stated capital requirement for commercial banks to GH?400 million, a more than 230 percent increment, the central bank has said. The central bank is said to have met the various heads of commercial banks Friday morning and told them they...
The Ghana Stock Exchange (GSE) has announced that five companies have been suspended from trading in shares effective from Monday, August 28, 2017. The companies are African Champion Industry Limited (ACI), Clydestone (Ghana) Limited (CLYD), Golden Web Limited (GWEB), Pioneer Kitchenware Limited (PKL) and Transaction Solutions Limited (TRANSOL). According to a...
The Minister of Finance, Mr Ken Ofori-Atta, has hinted at plans by the government and the Bank of Ghana (BoG) to announce a “substantial increase” in the minimum capital of banks. The announcement is to be made in the next two to three weeks’, the minister said, explaining that the...
This was revealed in a statement copied to Citi News. The GSE noted that the suspension had become necessary due to the revocation of UT Bank’s licence by the Bank the of Ghana. The GSE also indicated that UT Bank has failed to publish its financial results since the end of its...
Ghana should be on the path of achieving a strong monetary policy regime which is also in line with internationally accepted practices. That is the assertion of Economist, Professor Godfred Bokpin following the appointment of Mr. Maxwell Opoku-Afari as the First Deputy Governor of the Bank of Ghana. According to him,...
Commercial banks in Ghana have defended their high-interest rates even in the face of declining Treasury bills. They argue that T-Bills only account for a slight percentage of the indicators. “Treasury bills alone are not the factor. Banks have a way of computing their cost of funding and there are various...
Ghana's growing youthful population and their penchant for technology has raised the bar higher for banks in the country, Governor of the Central Bank, Dr Ernest Addison has said. "In the comfort of your office or home, one can now transact banking business at the press of a button via...
The Governor of the central bank, Dr Ernest Addison, has reiterated the need for government to develop accurate economic data reporting standards that will help in the formulation of policies that will guide the economy in a sustainable manner. Speaking at the opening session of a workshop on government finance...
Some indigenous banks on life support have accepted merger proposals from net worth institutional investors and are now locked down in series of negotiations that could help break the jinx surrounding mergers and acquisitions in the financial sector. The banks involved are about three of the eight indigenous lenders that...