Home / BoG

BoG

SEC to increase minimum capital requirement for capital market operators 

The minimum capital requirement for operators in Ghana’s capital market will soon be reviewed upward, director general of the Securities and Exchange Commission Rev. Daniel Ogbamey Tetteh has hinted. He, however, failed to mention the margin of increase but noted it will be “significant”. The Commission will soon notify market …

Read More »

New minimum capital requirement sensible – Economic Historian – Starr Fm

An economic historian at Cambridge University, Professor Gareth Austin, has lauded as timely the Bank of Ghana’s announcement of a new minimum capital requirement for banks to operate. The central bank early this month raised the minimum capital requirement to GH¢400 million, equivalent to about US$100 million. Commercial banks in …

Read More »

Banks considering Mergers and acquisition – BoG – Starr Fm

The Governor of the Bank of Ghana, Dr. Ernest Addison, has said following the announcement of the new capital requirement, the central bank has received mergers and acquisition proposals in order to make the cut. The current GH¢400 million capital requirement is one that many financial analysts have predicted will …

Read More »

BoG maintains policy rate at 21% – Starr Fm

The Monetary Policy Committee of the Bank of Ghana has maintained the policy rate at 21 per cent. Addressing a press conference Monday, the Governor of the Bank of Ghana, Dr. Ernest Addison said improved global growth prospects and accommodative monetary policy stance in advanced economies have impacted favourably on …

Read More »

Last Wednesday was “terrible” for me – Otabil – Starr Fm

Pastor Mensah Otabil who was chair of the defunct Capital Bank has admitted last week was a bad week for him. According to him,  the Monday which saw the Central Bank announce the shutdown of  Capital and UT banks for insolvency, was a “fortunately a good day”. “Monday was …

Read More »

Bawumia works with “commendable brilliance” – Akufo-Addo – Starr Fm

President Nana Addo Dankwa Akufo-Addo has patted his vice Dr. Mahamudu Bawumia on the back for “his commendable brilliance and high sense of responsibility.” According to Akufo-Addo, the Bank of Ghana should be proud to have had one of its own as a vice president whose dedication to work …

Read More »

Takeover of UT, Capital banks laudable – DI – Starr Fm

The Danquah Institute, a research and policy analysis centre, has commended the Bank of Ghana over its decision to revoke the licenses of UT and Capital Banks. The two banks have since been swallowed by GCB Bank due to their impaired financial status. “The intervention of the Bank of …

Read More »

Address banking sector challenges – Akufo-Addo to BoG – Starr Fm

President Nana Addo Dankwa Akufo-Addo has charged authorities of the Bank of Ghana to employ all creative means to address challenges confronting the nation’s banking sector. “The need to entrench reputation and credibility in the financial system is crucial. A weak banking system undermines growth, and, on this basis, …

Read More »

BoG to punish banks over govt cash transfer – Starr Fm

The Bank of Ghana (BoG) has served notice that it will be taking punitive actions against some commercial banks in the country for deliberately delaying the process of transferring government funds into the treasury single account. According to Starr Business checks, most banks are not complying with the directive …

Read More »

BoG must scrutinize monitoring system – Lecturer   – Starr Fm

A lecturer at the Ghana Institute of Management and Public Administration (GIMPA) Clement Akapame has tasked the Bank of Ghana (BoG) to take a second look at its monitoring of the country’s banking sector. This follows the Central Bank’s revocation of the licenses of UT bank and Capital bank …

Read More »