ALL POSTS FILED UNDER: BOG
Cedi can’t be printed in Ghana for now – BoG
Add a CommentThe Head of the Currency Processing Operations at the Bank of Ghana, Dominic Owusu, has disclosed that Bank of Ghana has no intention of setting up a printing facility to print Cedis anytime soon. “We don’t have the capacity and … Read more →
BoG grants GCB Bank authorisation to issue electronic money
Add a CommentThe Bank of Ghana (BoG) says it has granted GCB Bank Ghana authorisation to issue electronic money similar to what is popularly known as “mobile money”. Speaking at a press conference in Accra on Monday, Dr Ernest Addison said, “In … Read more →
BoG keeps policy rate at 16%
Add a CommentAccording to the Central Bank, the decision was based on its Monetary Policy Committee’s assessment that risks to the inflation outlook were broadly balanced. Governor of the Bank of Ghana, Dr. Ernest Addison, made the announcement to journalists on Monday, … Read more →
Cedi depreciation is a disguised blessing
Add a CommentFor some time now, our airwaves, print and even social media seem to have had a respite on the issue of cedi depreciation and rising exchange rates. Experts and politician alike also have had same recession on the topic. But … Read more →
BoG to inject US$125m into economy
Add a CommentBETWEEN October and December 2019, the Bank of Ghana will inject US$125 million into the Ghanaian economy to shore up dollar in circulation, boost liquidity and prevent any rapid depreciation of the cedi. With Christmas approaching and many traders expected … Read more →
Cedi depreciates 1.83% in Q3
Add a CommentTHE cedi depreciated by some 1.83 per cent to the US dollar from July 1 to September 31, 2019, representing a relatively stable quarterly performance by local currency. The currency had collectively lost about 9.0 per cent in value in … Read more →
BoG pegs minimum capital for Mobile Money companies at GH¢20m
Add a CommentThe Bank of Ghana has pegged the minimum capital required for operating a mobile money company at GH¢20 million. The latest directive comes on the back of the recently passed Payment Systems and Services Act, 2019 (Act 987) which provides … Read more →
Banks lose GHc19.1m to theft committed by own employees – BoG report
Add a CommentA Bank of Ghana report on banking fraud in the country has revealed that there is a growing number of employees of banks either stealing from customers or from their employers. The report prepared by the Financial Stability Department of … Read more →
BoG directs Rural Banks to meet minimum capital
Add a CommentThe Bank of Ghana has directed all Rural and Community Banks (RCBs) to meet their Minimum Capital requirement by February 2020. The directive was contained in a notice issued by the Central Bank to RCBs, Microfinance Institutions and the general … Read more →
Gov’t does not owe GN Savings and Loans – BoG
Add a CommentThe Bank of Ghana has rejected viral claims, GN Savings and Loans company collapsed because government failed to pay debts it owed the company. Deputy Director of Banking Supervision at the Bank of Ghana, Elliot Amoako said it is other … Read more →
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