ALL POSTS FILED UNDER: BOG
BoG suspends Foreign Exchange Trading Licence of CBG for one month, effective Nov. 26
Add a CommentThe Bank of Ghana (BoG) has suspended the Foreign Exchange Trading Licence of Consolidated Bank Ghana (CBG), with effect from November 26, 2024, for a period of one month. This, the central bank explained is in accordance with section 11 … Read more →
Jail persons implicated in banking sector clean-up – BoG to Gov’t
Add a CommentThe Governor of the Bank of Ghana, Dr. Ernest Addison, has made an impassioned call for governmental intervention against shareholders of banks and financial institutions implicated in the controversial financial sector clean up. During a joint press conference with the … Read more →
$360m IMF cash hits BoG account
Add a CommentThe Executive Board of the International Monetary Fund (IMF) has approved the second review of Ghana’s $3 billion loan programme, enabling for the immediate disbursement of $360 million to the country. Finance Minister, Dr. Mohammed Amin Adam, who disclosed this, said $360 … Read more →
BoG maintains monetary policy rate at 29%
Add a CommentIn a recent announcement, the Bank of Ghana (BoG) has decided to maintain its Monetary Policy Rate (MPR) at 29%. This move comes in response to a warning from the International Monetary Fund (IMF) cautioning central banks to be cautious … Read more →
BoG revises balance, transaction limits of mobile money wallets upwards
Add a CommentThe Bank of Ghana (BoG) has revised the balance and transaction limits of customers’ mobile money wallets upward, effective March 1, 2024. A statement from the Ghana Chamber of Telecommunications pointed out that the development is in line with increasing … Read more →
BoG lowers base rate to 29% to stimulate economic growth
Add a CommentThe Bank of Ghana (BoG) has announced a significant reduction in its Monetary Policy Rate, also known as the base rate, from 30 percent to 29 percent. This decline of 100 basis points signifies the apex bank’s efforts to boost … Read more →
Police deposit NAM 1 GH¢2.5m at BoG; Court to determine distribution
Add a CommentThe Ghana Police Service has announced that it has deposited a total amount of GH¢2.5 million received from the Chief Executive Officer of the defunct gold dealership firm, Menzgold, Nana Appiah Mensah, known as NAM1 to the Police Exhibit Account … Read more →
BoG maintains policy rate at 30%
Add a CommentThe Bank of Ghana has maintained the monetary policy rate at 30 per cent after reviewing developments in the economy. This means that the lending rate in the country will remain steady. It is the second time the Central Bank … Read more →
Total of 7.73 tons of monetary gold worth $480m added to reserves – BoG
Add a CommentFrom the beginning of the year to June 2023, the Bank of Ghana has built up US$1billion in reserves, mainly coming from its gold purchase programme, and settlement of short-term liabilities, Governor of the Bank of Ghana (BoG) Dr Ernest Addison … Read more →
BoG adds 7.70 tonnes of gold to reserves
Add a CommentThe Bank of Ghana (BoG) has added 7.70 tonnes of gold to the country’s reserves as of the end of last month, the Governor of the Bank of Ghana, Dr Ernest Addison, has stated. The measure, which is part of … Read more →
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