Bank of Ghana introduces new Ghc200, Ghc100 notes
The Bank of Ghana has introduced GH¢100 and GH¢200 notes to the country’s currency denomination mix. It has also introduced a GH¢2 coin. This was announced by the Governor of the Central Bank, Dr. Ernest Addison at a press conference in Accra on Friday. More soon…
BoG directs fintechs and MoMo operators to acquire license by June 2020
The Bank of Ghana has said companies engaged in online or digital transactions including Mobile Money Operators and fintechs, have up to June 2020 to acquire their licenses to enable them to operate in the electronic payment space. The acquisition of the license by these companies is one of the requirements in the Payment Systems […]
Government to set up National Development Bank in 2020
Next year will see the coming into existence of a new bank, National Development Bank (NDB), the Minister of Finance has revealed. Ken Ofori-Atta says already feasibility study for the establishment of the bank, specifying its rationale, mandate, business model, legal and regulatory framework, ownership, governance and sustainability has been been completed. He made this […]
347 Dead MFIs: 95% of Depositors to get Paid December – Receiver
The Receiver for some 347 collapsed microfinance companies, 23 savings and loans firms and some finance houses, Mr Eric Nipah, has disclosed that 95 per cent of clients of the dead firms would be paid their full deposits before the end of 2019. Mr Nipah said: “We should be in the position, by December, to […]
Breaking: SEC revokes licences of Gold Coast Securities, 52 others
The Securities and Exchange Commission (SEC) has revoked the licence of Gold Coast Securities and 52 other Fund Management Companies. The action is in pursuant to Section 122(2) (b) of the Securities Industry Act, 2016 (Act 929). At a stakeholder meeting Friday before releasing a list of the affected companies, the Director-General of the SEC, […]
Telcos Agree to stop Upfront CST Deductions
Telecommunication companies in Ghana have resolved to stop the upfront deductions of the Communications Service Tax (CST). This new development was announced in a statement issued by the Ghana Chamber of Telecommunications. According to the Chamber, the telcos will rather apply the tax through a tariff adjustment programme which will take effect on November 26, […]
