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Gov’t at implementation stage of industrialisation programme – Akufo-Addo – Starr Fm

President Nana Addo Dankwa Akufo-Addo has appealed for the unflinching support of Ghanaians, particularly the private sector, as government begins the implementation phase of its programme of industrial transformation of the country. According to him, government’s industrial agenda is anchored on building the competitiveness of existing local industries by …

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Claims of more banks collapsing unfounded – BoG – Starr Fm

The Governor of the Central Bank Dr. Ernest Addison has dismissed claims that other banks in the country are suffering liquidity problems and may soon collapse. Deputy finance minister Kwaku Kwarten has claimed that some more banks are suffering financial challenges and may go down if drastic measures are …

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GNPC no longer cash cow – Agyarko – Starr Fm

The Energy Minister Boakye Agyarko has served notice that days when the Ghana National Petroleum Corporation (GNPC), was used as a cash cow are over. “It had a solid balance sheet and that balance sheet was leveraged to support other government entities in providing either guarantees or limited liquidity …

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Mass withdrawals hit UT, Capital banks – Starr Fm

Some customers of UT and Capital Banks in Koforidua and other parts of the Eastern region have besieged the premises of the banks threatening to withdraw all their deposits due to the takeover by GCB Bank. This comes after the Bank of Ghana approved the takeover of Capital Bank …

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GSE deletes UT Bank from listed entities – Starr Fm

The Ghana Stock Exchange (GSE) has deleted UT Bank Limited from entities listed on the country’s stock exchange. This follows the Bank of Ghana’s revocation of UT Bank and Capital Bank’s licenses. The action, according to the Central Bank “has become necessary due to severe impairment of their capital.” …

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Why BoG revoked licenses of UT, Capital Banks – Starr Fm

The Bank of Ghana (BoG) has provided more information over its decision to withdraw the licenses of UT and Capital Banks. The GCB Bank has taken over both banks, according to the Central Bank. Below is a fact sheet surrounding the development: Q. Why has the Bank of Ghana …

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Don’t panic over takeover – UT, Capital banks’ customers urged – Starr Fm

A former Managing Director of Amal Bank (now Bank of Africa) Menson Torkonu has urged customers of UT and Capital banks not to panic in the wake of news that the Bank of Ghana has approved the takeover of the two banks by GCB. “I don’t believe anybody is …

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GCB takes over UT and Capital Banks – Starr Fm

The Bank or Ghana has approved the takeover of Capital Bank and UT Bank by the GCB Bank Ltd. A statement by the Central Bank stated that it has “approved the Purchase and Assumption transaction with GCB Bank Ltd that transfers all deposits and selected assets of UT Bank …

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Over 3k public workers to lose salaries – Starr Fm

3,000 government workers are yet to complete their registration unto the SSNIT biometric database, which will affect payment of their salaries. A Deputy Minister of Finance, Abena Osei Asare, told the B&FT in parliament that: “A little above 3,000 are yet to do the biometric registration as we are …

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