BoG withdraws Credit Reporting License of HudsonPrice Data Solution for non-compliance
By: Mabel Annang The Bank of Ghana, BoG has cautioned financial sector players to stop submitting data on the credit history of their clients to credit reference bureau firm, HudsonPrice Data Solution with immediate effect. In a letter to banks, Specialized Deposit-Taking Institutions and Non-Bank Financial Institutions attributed the action to what the BoG […]
First Deputy Governor of BOG Dr. Maxwell Opoku-Afari inducted Fellow of GAAS
By: Naa Dzabley Ago The First Deputy Governor of the Bank of Ghana (BoG), Dr. Maxwell Opoku-Afari has been inducted as a Fellow into the prestigious Ghana Academy of Arts and Sciences (GAAS). The ceremony was held on Tuesday, 15th November 2022, at the Auditorium of the Academy in Accra. The Vice President of Ghana, […]
BOG denies giving government 70 billion cedis
The Bank of Ghana, BOG has denied allegations by the Member of Parliament for Bolga Central, Isaac Adongo, that it gave more than 70 billion cedis to the government to finance maturing debts on the domestic market. In a statement, the Central Bank described the allegations as “false and unfounded” adding that the allegations are […]
BoG takes measures to halt overpricing in forex business
The Bank of Ghana (BoG) will be meeting the Managing Directors of some of the Banks and the Heads of the Forex Bureau Association today, October 25, 2022, to hold discussions aimed at ensuring that the supply of forex on the market is stabilized. In addition, the meeting will come up with measures to ensure […]
Rural Banks yet to comply with BOG’s 2021 Corporate Governance directives
By: Ewurabena Paha A Deputy Governor of the Bank of Ghana (BOG), Mrs. Elsie Addo Awadzie says being a Chief Executive Officer (CEO) of a bank is not an issue of prestige but rather that of a huge responsible. Speaking as the guest at ARB Apex Bank 21st CEO’s Conference in Ho, Mrs. Awadzie said […]
BoG increases Monetary Policy Rate to 24.5%
By: Franklin ASARE-DONKOH The Monetary Policy Committee of the Bank of Ghana (BoG) has increased the Monetary Policy Rate by 250 basis points to 24.5 percent. The Governor of BoG, Dr. Ernest Addison in announcing the new rate explained that the increase has been necessitated by the problems associated with Ghana’s rising inflation, which stands […]
Three Gold Firms on board in efforts to stabilize Cedi – BoG
By Rukiyatu Musah The Bank of Ghana, BoG, says three gold Mining Firms have come on board its domestic Gold purchase programme to shore up the country’s reserve. According to the Bank, it has now resorted to diversification of its assets through the purchase of local gold from a Gold Aggregator known as Asanska Gold. […]
BoG to boost reserves by $500m
SOURCE: GRAPHICONLINE The Bank of Ghana (BoG) is confident of boosting its reserves by half a billion US dollars from miners, oil and gas-producing firms and other major exporters between now and December. The purchases are to accrue from a new arrangement that allows the central bank to pay cedis for foreign exchange (forex) that […]
BoG flags 19 entities for unauthorised lending
SOURCE: GNA The Bank of Ghana (BoG) has flagged 19 illegal money lending institutions and advised the public to desist from doing business with them. This followed an observation that a number of unlicensed entities are engaged in the provision of loans to the Ghanaian public, in contravention of the Banks and Specialised Deposit-Taking Institutions […]
BoG Overdraft necessary as government works to put IMF Programme in place – Analyst
SOURCE: 3NEWS A Financial Analyst, Johnson Ameyaw says the Bank of Ghana (BoG) overdraft to the Ministry of Finance, will go a long to help the country as the government seeks a programme under the International Monetary Fund (IMF). In the absence of access to the international capital market and given the constrained domestic financing, […]
