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Yearly Archives: 2020

CBG MD honoured as ‘Most Respected CEO’

Mr Daniel Wilson Addo, the Managing Director (MD) of Consolidated Bank Ghana (CBG), has been adjudged ‘Most Respected Chief Executive Officer’ (CEO) of state-owned banks at the 2020 Ghana Industry CEOs Awards held in Accra. A statement from CBG, copied to the Ghana News Agency said, the prestigious award scheme …

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Less than two million Ghanaians pay tax

About 1.5 million out of the six million eligible Ghanaian tax payers pay tax, allotting Ghana one of the lowest Tax to Gross Domestic Product (GDP) ratio in Africa. Ghana therefore has a lot to do to meet the Sub-Saharan average target of 17 per cent which is above the …

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BoG to unwind countercyclical measures in financial sector – Governor

Dr Ernest Addison, Governor of the Bank of Ghana has hinted of plans to undo all countercyclical measures implemented in the financial sector due to the COVID-19 pandemic to allow for the proper functioning of the system. He has, therefore, charged banks to remain vigilant, upgrade staff capabilities and improve …

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Ghana’s economy contracts 1.1% in third quarter 2020

Ghana’s economy contracted by 1.1 per cent year-on-year in the third quarter (July to September) of 2020 compared to the same period in 2019 due to the coronavirus pandemic. In the same period of 2019, the growth was 5.6 per cent. Gross Domestic Product (GDP) growth rate without oil and …

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Premix Secretariat digitises fuel distribution

The National Premix Fuel Secretariat (NPFS) has embarked on a digitisation drive aimed at ensuring transparency and blocking leakages in the premix fuel trade. With the new drive, only fishermen with electronic cards can access the product, the Chairman of the National Premix Committee, Nii Lante Bannerman, has said. He …

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FBNBank unveils quick banking *894# product

FBNBank Ghana, as part of its commitment to empower all who embrace its brand with seamless access to everyday financial services, has unveiled the quick banking *894# product. The product bestows the power to bank anywhere and at any time to customers. According to the bank, it is convenient, easy, …

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Customers of defunct Microfinance firms, others start receiving payments

Customers of defunct Microfinance companies, Savings and Loans companies, and Finance Houses have started receiving their locked-up funds. This follows the release of GHS3.56 billion in cash to fully settle depositor claims of depositors of the defunct firms. The payments began on Wednesday, September 16, 2020, as announced by the …

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