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Tag: Bank of Ghana

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Ghana warns citizens against unlicensed loan firms

Elwin Mandowa, , , , , , , ,
– – Ghana’s central bank has cautioned the public against going to loans from unlicensed entities providing of loans to consumers. According to the bank of Ghana 19 of such firms are operating in contravention of the the country’s Banks and Specialised Deposit-Taking Institutions Act, 2016. These illegal firms mostly employ the use of mobile applications and social media in… Read More
Africa Business Ghana West Africa World 

Ghana’s new banknotes spark confusion over relevance

Village Reporter, , , ,
Ghana’s economy has over the last decade been on a roller coaster with signs of positivity and growth; decreasing inflation and subtle macro-economic stability at times. A recent four year deal with the International Monetary Fund was to ensure that the country resets its economic fundamentals and build on that. But one major thing has been a challenge for the… Read More
Africa Business Ghana West Africa World 

Ghana revokes licenses of 23 financial institutions

Village Reporter, , , , , ,
Ghana’s central bank has revoked the licenses of twenty-three (23) financial institutions mostly savings and loans companies. The Bank of Ghana in a statement on Friday said the financial institutions were insolvent and unable to operate properly. The revocation of the licences of the 23 institutions, according to the central bank had to be executed after the institutions failed to… Read More