Loan Archives - Wontumi Online

03 Feb

Afenyo-Markin Reveals How He Built His Fortune With US$15 Million In Bank Loans, Others

CUD Wontumi0 CommentsBusinessAfenyo Markin, Loan

The Minority Leader of Parliament, Alexander Afenyo-Markin, has disclosed that all his wealth was acquired through his business ventures before he entered politics. According to him, most of his assets, including properties, were obtained many years ago; therefore, he sees no reason why Operation Recover All Loot, President John Dramani Mahama's investigative team to recover state assets, should be pursuing his properties. In an interview on Joy News on February 2, 2025, Afenyo-Markin revealed that he had to leave school to pursue financial opportunities, which enabled him to establish his businesses and accumulate significant wealth. He disclosed some of the properties…

27 Jan

Banks’ Average Lending Rate Hovered Around 30% During The Second Half Of 2024

CUD Wontumi0 CommentsBusinessBanks, Loan

Banks’ average lending rates hovered around the 30% bracket during the second half of the year, after declining from 32% at the beginning of the year. According to data from the Bank of Ghana, the average lending rate stood at 30.25% in December 2024, after recording 30.07% and 30.45% in October 2024 and November 2024, respectively. The average lending rate began in January 2024 at 32.94% and took a nosedive in February 2024 and March 2024, respectively. It stood at 32.77% in February 2024 and further dropped to 32.35% in March 2024. It again eased in April 2024 to 31.25%.…

08 Jan

Reschedule Loan Payments For Traders Affected By Kantamanto Fire – GUTA begs banks

wontumionlineBusiness, TrendingGUTA, Kantamanto Fire, Loan

The Ghana Union of Traders Association (GUTA) has appealed to banks and financial institutions to reschedule the financial obligations of traders at the Kantamanto market, following the devastating fire outbreak last week. Speaking to journalists after the association donated GH₵40,000 to support the reconstruction of the market, the First Vice Chairman of GUTA Clement Boateng emphasized the need for financial institutions to reschedule loan payments for traders affected by the fire. “I will take this opportunity to appeal to the banks because I know that there are a lot of people here who have taken some facilities from the bank.…

27 Mar

$300m Loan From World Bank Hits BoG Account

wontumionlineBusinessBoG, Loan

The US$ 300m loan facility from the World Bank to Ghana has officially been released for budgetary support. The amount was credited to the Central Bank’s account today, Wednesday March 27, 2023. It is the first in a series of three operations of $300 million each from the World Bank for crisis response and resilience in Ghana as part of the Resilient Recovery Development Policy Operation. This fresh foreign inflow will increase the Bank of Ghana buffers to help in the recovery of the economy and slow the depreciation of the cedi. The fund is expected to also restore fiscal sustainability,…

14 Jun

Do Not Take Loans From These 97 Unlicensed Online Loan Apps – BoG Warns

wontumionlineBusinessbank of ghana, Loan

The Bank of Ghana has warned against taking loans from over 97 unlicensed online loan applications. According to the Central Bank, the influx of these loan apps is in contravention of the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930). The bank said it had observed the persistent operation of unlicensed entities that are engaged in the provision of loans through mobile applications to the Ghanaian public. The Bank reiterated that the activities of these entities significantly breach customer data and privacy laws, as well as consumer protection requirements and norms, with unfavourable implications for the integrity and well-being of their…

13 Jun

DPC Warns Public Against Unlicensed Online Loan Apps

wontumionlineBusinessData Protection Commission, Loan

The Data Protection Commission (DPC) has cautioned the general public against unlicensed online loan applications (apps), citing widespread violation of personal data. In a statement, the Commission’s Executive Director, Patricia Adusei-Poku, said her outfit has received countless complaints of breaches of personal data and privacy rights from patrons of unlicensed online money lending applications. “Digital loan services have become an increasingly easy-to-go-to avenue for people to access credit, as many are unable or ineligible to secure loans through traditional providers such as the banks. But in recent times, the Data Protection Commission has received tons of complaints regarding the harassment…