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The Ashanti regional branch of Ghana Union of Traders' Association has called on the necessary authorities to enforce the GIPC act which forbids foreigners to engage in retail business in Ghana. Ashanti regional chairman of the association, Mr Anthony Oppong stated categorically that they are not against foreigners be it...
Rural and Community Banks (RCBs) have been urged to take deliberate steps to create the right control environment to minimize operational losses. Mr. Kojo Mattah, Managing Director (MD) of ARB Apex Bank, said it was vital for them to go the extra mile to make sure that there was financial...
It has emerged that unpaid loans by international companies are the cause of the callapse of the UT Bank and Capital Bank, according to law lecture  at Ghana Institute of Public Adminstration (GIMPA). According to Clara Kasser-Tee, the takeover of the two banks by Government of Ghana maybe as a...
The National Investment Bank (NIB) would be redirected to its original mandate of stimulating industrial development for faster national economic growth in accordance with government’s ambitious industrialisation agenda, says Trade and Industry Minister Alan Kyeremanten. The NIB was established primarily to promote and strengthen rapid industrialisation in all sectors of...
The Danquah Institute has commended the Bank of Ghana for the intervention that allowed GCB to takeover distressed UT and Capital Bank. A statement signed by the executive director of the institute, Dr. Kingsley Nyarko noted that the timeous rescue of the banks define the competence of those at the...
The President of the Republic, Nana Addo Dankwa Akufo-Addo, has commended the Bank of Ghana for playing a pivotal role in promoting the country’s socio-economic development. According to President Akufo-Addo, through the Bank’s diligence and commitment, it has attempted to fulfil its mandate to ensure price stability and to create...
The Ghana Psychological Association (GPA) has expressed concerns over the revocation of banking licenses of UT/Capital Banks by the Bank of Ghana. In a full text of a four-paged document signed by Mr Richmond Acquah-Coleman, the Public Relations Officer of the association, the psychologists expressed dissatisfaction at the processes leading...
The National Pensions Regulatory Authority (NPRA) has assured trustees who appointed UT Bank as their Custodian that their Pension Funds will not be affected by the takeover. NPRA said the current purchase and takeover by the GCB Bank and subsequent withdrawals of their license by the Bank of Ghana would,...
The President of the Republic, Nana Addo Dankwa Akufo-Addo, says his government is in the process of finalising Ghana’s new Africa Growth and Opportunity Act (AGOA) export strategy and action plan, to boost the volumes of exports to the United States to $500 million by 2020. With Ghana unable to...
The Head of Banking Supervision at the Bank of Ghana, Raymond Amanfu, has hinted that there will be some layoffs at UT Bank and Capital Bank due to the transfer of deposits and assets to GCB Bank. But essentially all staff of the two banks will become staff of GCB...