Ecobank Ghana continued to remain the biggest bank in Ghana with a Tier-1 capital of $228 million at the end of 2024, The Banker’s Top 100 African Banks for 2024 has revealed. This was followed by Access Bank Ghana in 2nd position with a capital of $216 million and GCB Bank withContinue Reading
Seven Nigerian banks and two bank holding company Long-Term Issuer Default Ratings (LT IDRs) would likely be upgraded if Nigeria’s sovereign LT IDRs (B-/Positive) were upgraded and the entities maintained stable financial profiles. According to Fitch Ratings, the Positive Outlooks on the entities’ ‘B-’ LT IDRs mirror that on theContinue Reading
Governor of the Bank of Ghana (BoG) Dr Johnson Asiama has announced that the central bank will be represented on the board of the Gold Board. He says that the BoG will definitely be part of the Goldbod initiative introduced by the Mahama administration. Answering questions during the 123rd MonetaryContinue Reading
Governor of the Bank of Ghana, Dr Johnson Asiama has said that a huge number of the Ghanaian-owned banks are struggling and need support to be able to compete with the foreign-owned banks. Dr Asiama says that the central bank is currently focused on how to strengthen these banks toContinue Reading
Prof. Isaac Boadi, Executive Director of the Institute of Economic Research and Public Policy (IERPP) and the Dean, Faculty of Accounting and Finance, has called for an enhanced harmonious relationship between the Bank of Ghana (BoG) and the Ministry of Finance (MoF). His assertion is based on the recent simultaneousContinue Reading
Importers seeking to send goods to Nigeria are increasingly turning to other West African nations to evade excessive port charges. In less than a month, multiple government agencies, terminal operators, and shipping companies at Nigerian ports have raised their fees by nearly 100%, making cargo clearance unaffordable for many businesses.Continue Reading
The International Monetary Fund has indicated that it will formally assess Ghana’s progress in meeting key commitments in April 2025. This will be in the context of the fourth review of the Extended Credit Facility arrangement. The Fund pointed out this in a statement after a Staff team led by StéphaneContinue Reading
Ghana’s cocoa sector, a cornerstone of the nation’s economy, has been faltering over the years with cocoa output for the 2023/24 falling to its lowest since 2016. The Ghana Cocoa Board (COCOBOD), the state-owned entity tasked with managing the industry, is grappling with financial instability, prompting the World Bank toContinue Reading
An International Monetary Fund (IMF) staff team, led by Stéphane Roudet, visited Ghana from February 10 to 14 to discuss the country’s macroeconomic outlook and policy direction with government officials and key stakeholders. In a statement at the end of the visit, he noted that the mission team engaged GhanaianContinue Reading
The Finance Minister Dr. Cassiel Ato Forson is now expected to present the 2025 Budget to Parliament on March 11, 2025. This was after the initial date of March 10 proposed by the Ministry of Finance was changed because parliament does not sit on Mondays. Majority Leader, Mahama Ayariga, whoContinue Reading