There have not been any panic withdrawals at various branches of both Capital and UT Banks, following GCB Bank’s takeover of both banks, Bank of Ghana has indicated. The Bank of Ghana confirmed the takeover of UT Bank and Capital Bank by GCB Bank in a statement on Monday morning, announcing that it had “approved a Purchase and Assumption transaction […]

President Nana Akufo-Addo has said Ghana lost about $3 billion in economic activities during the power crisis that hit the nation under the Mahama administration. Akufo-Addo who quoted figures from the Institute of Statistical, Social and Economic Research (ISSER) said the country lost about GHc618 million in economic activity in 2014 alone which he said is “equivalent to 2 percent […]

The Bank of Ghana (BoG) has said it will investigate and sanction officials whose activities led to the collapse of UT Bank and Capital Bank. “The last phase of the BoG’s action would involve a thorough investigation of operations of UT Bank and Capital Bank and appropriate action will be taken against shareholders, Directors, and key a Management personnel who […]

The re-branding of one of the two collapsed Ghanaian-owned banks, UT Bank, which has been taken over by GCB Bank, has started barely hours after the Bank of Ghana’s announcement. Citi News’ Anita Arthur reported from the headquarters of UT bank at Airport that the bank’s logo on the building has been replaced with that of GCB bank. She also added […]

A former Health Minister, Alex Sebgefia is skeptical about government’s decision to restore allowances to trainee nurses. According to him the decision which has compelled government to also re-introduce the quota system for nursing training institutions is ill-informed and will only “create difficulties” for the government. “I think that they are creating difficulties for themselves because the allowance is not something that […]

The Bank of Ghana (BoG) has indicated that it is likely to announce a new minimum capital requirement for banks by September. According to the regulator, it is almost through with the required engagement with all the players in the banking industry to possibly aid the announcement. The Central Bank had earlier indicated that it would announce the new capital […]

Ghanaian farmers who have over the years been relying on traditional agricultural spraying methods that require manual operations with high labor intensity can heave a sigh of relief as the management of WYNCA Sunshine prepares to launch the county’s first ever drone spraying technology. The technology will enable farmers to spray more acres of farms within a short time, increasing productivity […]

Source: Ghana | Myjoyonline.com A former Chairman of the opposition National Democratic Congress (NDC) Dr. Obed Asamoah, has said former President Jerry John Rawlings is not the Founder of the party. According to him at the time of filing for the registration of the NDC, the ex-President was still in the Ghana Armed Forces and could not have represented any district […]

Pressure is mounting on the newly sworn in members of the board of the Bank of Ghana (BoG) to push interest rates down. The development follows demands from the Vice President Dr Mahamudu Bawumia for them to reduce the current high interest rates in the country. Ghana has one of the highest interest rates in the world, with the average […]