Loan Archives - Wontumi Online

08 Jan

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

wontumionline0 CommentsBusiness, 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…