Dr Richmond Atuahene Archives

11 Apr

Non-Bank Financial Institutions Must Build Resilience – Dr. Atuahene

wontumionlineBusinessDr Richmond Atuahene, Non-Bank Financial Institutions

Much more needs to be done in creating a resilient and sustainable Non-Bank Financial Institutions (NBFIs) space, banking consultant Dr. Richmond Atuahene has said – advocating good corporate governance practices, effective board oversight, upgraded technological infrastructure and quality human resources, among others. Dr. Atuahene stated that NBFIs must adopt robust enterprise risk management (ERM) processes and controls to be more responsive to change and help enable them build resilience. “Given its importance to the overall economy, governments around the world regulate the financial sector quite highly. As a result, it’s essential for banks to understand how they must manage risk.…

14 Mar

Local Banks At Risk Of Insolvency Under IFRS 9 – Study

wontumionlineBusinessBanks, Dr Richmond Atuahene

Banking Consultant Dr. Richmond Atuahene has warned that banks operating in the country could face insolvency if the International Financial Reporting Standard (IFRS) 9 is applied strictly, following their participation in the Domestic Debt Exchange Programme (DDEP). Already, there are indications that foreign-owned banks, including South Africa-based Standard Bank and First Rand Bank, are looking to recapitalising their Ghanaian arms, with the former being reported to have set aside 1.5 billion South African Rand (ZAR) – approximately US$81million – to cover potential losses emanating from the DDEP. According to his analysis, contained in a paper titled ‘Assessing the Domestic Debt…

14 Feb

DDEP Lacks Transparency And Poor Treatment Of Creditor Groups With Banks Said To Lose ¢41.3bn – Report

wontumionlineBusinessDomestic Debt Exchange Programme, Dr Richmond Atuahene

A report conducted by Banking Consultant, Dr. Richmond Atuahene, has revealed lots of inconsistencies and incoherence in the objective of the Domestic Debt Exchange Programme (DDEP). According to the research, a critical review of the implementation of Ghana’s DDEP programme so far clearly showed that there were also lack of transparency and a poor timely flow of information, bad faith and poor treatment of creditor groups and reactive stands, instead of the Ministry of Finance being proactive. “From critical review of the Ghana’s domestic debt exchange, it is not in line with the best principles for fair debt restructuring for…

31 Jan

BoG Needs To Work Hard On Threats To Solvency Of Banks – Banking Consultant

wontumionlineBusiness, Newsbank of ghana, Banks, BoG, Debt exchange programme, Dr Richmond Atuahene

Banking Consult, Dr. Richmond Atuahene has adviced the Central Bank to put its best foot forward to eliminate the various increased pressures on the liquidity of banks and the threat to their solvency. Dr. Atuahene said the situation if not managed properly will affect the ability of banks to lend to private sectors and small businesses and cause a depletion of regulatory capital. “From where I sit and the calculations in front of me, Bank of Ghana would need to work hard because out of the 23 (banks), I do not know which one would stay if we go by…

02 Dec

Our Economy Will Possibly Go Into Recession – Banking Consultant

wontumionlineBusinessBanking Consultant, Dr Richmond Atuahene, Recession

A Banking Consultant, Dr. Richmond Atuahene, has expressed fears that the country’s economy may be heading into recession in 2023. Speaking on JoyNews’ AM Show, on Friday, he explained that his conviction is based on the impact of the impending debt restructuring on the banking sector. The banking consultant said people talk without seriously taking into consideration the debt restructuring process. He said the process itself is capable of exacerbating existing economic challenges. “We’re not going to have it easy. It’s going to be very difficult because everybody is talking, but they haven’t taken into consideration the debt-restructuring process. That itself…