Banking & Finance

T-bill rates hit 5-year low

Revenue

Rates on short-dated government securities have taken their free fall to another level, hitting a five-year low on June 23, this year. Buoyed by the current stable inflation and foreign exchange rate regime, rates on the benchmark 91-day treasury bill (T-bill) dropped from 25.19 per cent on July 13, 2015, to 22.79 per cent in January, last year, before narrowing ...

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Financial institutions to buy into energy sector bond

Banks

Some financial institutions in the country have indicated their readiness to buy into the energy sector bond yet to be released by government later this year. This they believe will aid government get the energy sector back on a strong financial footing. Dr. Bawumia at the spring meetings in Washington in April this year, announced plans to issue a 15 ...

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Dun & Bradstreet holds workshop for insurers in Accra

Dun & Bradstreet (D&B), an international business service company that promotes financial infrastructure and provides credit risk facilities, yesterday held a workshop for insurance providers and financial institutions in Accra. According to Adebowale Atobatele, General Manager for Dun & Bradstreet Credit Bureau Ltd, the workshop is to educate insurers, banks and lenders on how to create value and address challenges ...

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FNB voted as Coolest Bank 2017

First National Bank

FNB was voted first in the category ‘coolest bank’ in the 2017 Sunday Times Generation Next Survey for the sixth year in a row. Held annually, the survey provides marketers with insights and trends on how the South African youth market from all walks of life perceive brands and which products and brands appeal to them most. Winning this award ...

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Ghana Home Loans acquires a universal banking licence

Ghana Home Loans (GHL), the nation’s leading mortgage finance provider, has received all the requisite approvals from the Bank of Ghana to commence operations as a universal bank. The mortgage specialist shall be renamed GHL Bank and will be the foremost bank for wealth creation. Since its launch in 2006, Ghana Home Loans has dominated and transformed the home loans ...

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GCB Bank presents GH¢21.5 million dividend to government

GCB Bank Limited, has presented GH¢21.5 million to the Government as dividend for 2016. The dividend is in respect of the 21.4 per cent government’s shareholding in the bank. Mr Ken Ofori-Atta, Finance Minister, who received the cheque from the, Managing Director Anselm Ray Sowah, described the consistent payment of dividend by GCB to government as “the best one”. He ...

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Exim Bank to be operational by September

The integration of Eximguaranty Company Ghana Limited with the Export Trade, Agricultural Investment Fund (EDAIF) and the Export Finance Company (ECF) into an Exim bank is expected to materialise by September this year. As a result, high-level discussions with shareholders and expected legal procedures are currently ongoing to ensure a successful integration for the benefit of the economy. “Consultants were ...

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More banks and Fintechs now offer Instant Pay services

Fintech

About 22 banks and four fintech companies, as well as a savings and loans company, are now offering the GhIPSS Instant Pay (GIP) service to the public. The GIP is an electronic payment system that enables bank customers to transfer funds from one account to another of a different bank in a matter of seconds. The payment is the fastest ...

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Beige Capital Savings and Loans Now Beige Bank

Beige Bank

BEIGE, the financial services provider, says its subsidiary, BEIGE Capital Savings and Loans (BCSL) has secured final approval to operate as a Universal Bank. This final license follows BCSL’s satisfaction of all the licensing requirements of the Bank of Ghana. A statement from the Group said BEIGE’s banking subsidiary would be called The BEIGE Bank. “The implication of this announcement ...

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Bankers advocate tiered capital for banks

Bank of Ghana

The Chartered Institute of Bankers, Ghana (CIB), has advised the Bank of Ghana (BoG) not to announce a uniform capital requirement for the banking sector but create a tier system that can cater to the needs of the various banks. The CIB said in order to ensure that the gains of capitalisation were fully harnessed, the BoG should consider a ...

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