Zeepay Ghana Limited has initiated discussions with the Bank of Ghana to resolve the suspension of its forex license. Last week, the Central Bank says it has temporarily suspended the forex licence of Zeepay Ghana for failing to use the average interbank exchange rate published by the Ghana Association of …
Read More »Ghana Cedi now selling at GH₵11.56 against a dollar for the month of November 2023 – BoG report
The November 2023 Summary of Economic and Financial Data by the Bank of Ghana has put the depreciation of Ghana’s currency – the cedi – at 25.8% as of November 2023. Per the data, the cedi had remained relatively stable between March and September 2023, selling at GHS 11.01 and …
Read More »BoG fines and suspends forex license of Zeepay Ghana
The Bank of Ghana has fined Zeepay Ghana Limited for failing to use the average interbank exchange rate published by the Ghana Association of Banks and the Bank of Ghana for the conversion of settlement funds into the local currency. This development was captured in a statement issued by the …
Read More »Transforming the SME landscape in Ghana – Absa Bank Ghana
Absa Bank has set out to undo the most critical issue facing traders and small businesses in Ghana today – access to finance. There is no doubt about it; SMEs contribute over 80% to the country’s GDP growth. These businesses are the bedrock of economic stimulation, advancement and stability. Ghana’s history and its performance …
Read More »UBA offers massive 10% interest in Super Savings Promo – A novel initiative in the industry
United Bank for Africa (UBA) Ghana Ltd has taken a groundbreaking step in the banking industry by launching the Super Savings Promo, an initiative that offers an impressive 10% interest rate on savings. The promo will run from November 2023 through to February 2024. The Super Savings Promo covers a …
Read More »Fidelity Bank is fully committed to driving agribusiness in Ghana – Nana Esi Idun-Arkhurst
Fidelity Bank Ghana, the country’s largest privately-owned bank, has reaffirmed its unwavering dedication to the agricultural sector at the presidential breakfast meeting on agriculture and agribusiness financing in Ghana. This profound commitment was shared by Nana Esi Idun-Arkhurst, Divisional Director, Retail and Business Banking at Fidelity Bank, who highlighted the …
Read More »Don’t rush; exercise caution – BoG advises public on loan guarantorship
As part of its financial literacy drive, the Bank of Ghana is urging the general public to be mindful of whom they guarantee loans for. The Central Bank maintains that the guarantor will be compelled to repay the loan with accrued interest if the borrower defaults in honoring the loans …
Read More »Izwe Savings and Loans PLC receives International Organization for Standardization (ISO) certification
In a remarkable achievement that highlights its unwavering commitment to excellence, Izwe Savings and Loans PLC, has been awarded the prestigious ISO 27001 certification. This momentous recognition signifies a new milestone in the company’s journey towards providing top-tier financial services to its valued customers. The ISO certification for Izwe Savings …
Read More »Uphold ethical standards – BoG Governor tells banking sector players
The Bank of Ghana (BoG) is urging stricter enforcement of the code of ethics regulating the banking industry. This advice according to the regulator is to limit corruption and fraud related cases in the banking sector. Banks and other financial institutions in the country lost GHS 56 million to fraud …
Read More »Redefining the Intersection of Art and Finance in Africa
In the world of banking, the mention of art might seem out of place. Yet, Absa Bank is defying this notion, thanks to its more than three decades of association with the esteemed L’Atelier pan-African Art competition. For 37 years, the Absa L’Atelier has been one of Africa’s most prestigious …
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