Databank Archives - Wontumi Online

10 Jan

Gov’t To Borrow GHȼ200bn From T-bill Market In 2025 – Report

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The government is expected to borrow approximately GH₵200 billion from the Treasury bill market in 2025, representing a reduction from an estimated GH₵220 billion in 2024, according to Databank Research. This projection reflects an average weekly borrowing of GH₵3.9 billion, down from GH₵4.2 billion in the previous year. In its 2025 Ghana Market Outlook report, Databank Research attributes the decline in short-term borrowing to improved access to alternative funding sources and a strategic pivot toward long-term securities. This shift aligns with Ghana’s broader economic recovery efforts and increased access to international financial markets, offering the government greater flexibility in exploring…

12 Jan

Databank’s Liquidity Challenges Being Resolved – Kojo Addae-Mensah

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Chief Executive Officer (CEO) of Databank, Kojo Addae-Mensah has disclosed that the fund management company is almost through with resolving its liquidity challenges. The firm had told its cherished clients that it is reeling under the impact of difficulties that have rocked the fund management industry owing to the macroeconomic crisis bedevilling the country. It said the situation accounts for the company’s inability to pay withdrawal requests and impacted its original two-week estimate for withdrawals. “Unfortunately, we have not been able to resolve that yet. With the conversations we had with the Ministry, the Securities and Exchange Commission based on…

11 Jan

Databank’s Liquidity Challenges Being Resolved – Kojo Addae-Mensah

wontumionlineBusinessDatabank

Chief Executive Officer (CEO) of Databank, Kojo Addae-Mensah has disclosed that the fund management company is almost through with resolving its liquidity challenges. The firm had told its cherished clients that it is reeling under the impact of difficulties that have rocked the fund management industry owing to the macroeconomic crisis bedevilling the country. It said the situation accounts for the company’s inability to pay withdrawal requests and impacted its original two-week estimate for withdrawals. “Unfortunately, we have not been able to resolve that yet. With the conversations we had with the Ministry, the Securities and Exchange Commission based on…

10 Jan

Databank To Reopen Offices Today

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Fund Management firm, Databank, will reopen its independent branches today, Tuesday, January 10, 2023, following a shutdown on December 22 resulting from physical and verbal attacks on its staff by some clients. The staff of the fund management company have been working remotely and engaging clients on digital platforms since the closure, but the company in an e-mail and text message to its clients on Saturday, January 7, 2023, said it “will apply a phased approach to re-opening” its physical locations. The re-opening will commence on January 10 with business resuming at its independent branches located in Accra, Cape Coast,…

22 Dec

Databank Shuts Offices, Staff To Work Remotely Due To Attacks And Threats

wontumionlineBusinessDatabank, Databank Research, Financial Stability Fund, ministry of finance

Investment and fund management firm Databank has announced the closure of its offices effective Thursday, December 22, and to work remotely following attacks and threats on its staff. A statement issued Wednesday by the company said it has not been spared the liquidity challenges that have beset the fund management industry owing to the ‘macro-economic crisis’ facing the country. The situation has negatively impacted its ability to honour withdrawal requests as expected, however, while some clients have cooperated with the company, “there are several clients who have felt the need to abuse our staff physically and verbally, and also threaten…