Bank of Ghana Archives - Page 6 of 6

28 Sep

Policy rate of BoG kept same at 14.5%; cost of credit to remain unchanged till December

Wontumi2BusinessBank of Ghana

The Monetary Policy Committee of Bank of Ghana has kept its key lending rate unchanged at 14.5% The Committee left the rate at which it lends to commercial banks same for the second time this year. Speaking at a News Conference, Governor of the Central Bank, Dr. Ernest Addison, said the move was influenced by some threats to inflation and economic growth. The unchanged policy rate means at least for the next three months, cost of credit will remain virtually same. The banks will however consider certain factors [loan loss provisioning, inflation, Treasury bills rate etc.] in pricing their loans.…

Mahama, NDC Tried Collapsing Data Bank- MP Reveals

Kakra NunuBusiness, Featured, NewsBank of Ghana, Data Bank, Finance, NDC

There were various attempts by the erstwhile John Dramani Mahama government to deliberately collapse Data Bank, the Member of Parliament for Assin Central, Kennedy Agyapong, has revealed. The legislator, who spoke on Wontumi TV last Saturday, emphatically stated that former President Mahama and some key members of the National Democratic Congress were not happy about the progress of Data Bank and made several attempts to destroy it. “NDC tried collapsing Data Bank. I am challenging them to come out and state if Data Bank under them had any liquidity challenge. I want the former Bank of Ghana Governor under Mahama…

“All Customers Of Failed Banks Paid Fully; Over 95% Of Savings & Loans, Microfinance Customers Paid” – Governor Addison

wontumionline.comBusiness, FeaturedBank of Ghana, First Allied Savings and Loans, GN Savings and Loans, IMF

The Governor of the Bank of Ghana, Dr. Ernest Addison, has stated that all customers of the nine (9) failed banks, and over ninety five percent (95%) of customers of Specialised Deposit-taking Institutions (SDIs), which were affected by the banking sector clean-up have received their deposits. According to the Dr. Ernest Addison, the first phase of the banking sector clean-up involved the revocation of licenses of nine (9) banks, for which all depositors were paid in full. “The second phase has to do with the SDIs – these are the savings and loans, microfinance institutions and finance houses. In their…