Browsing: Bank of Ghana
According to BoG, the suspension stems from Taptap Send’s operation of a Cedi Remittance Wallet, a service the central bank contends violates Ghana’s Foreign Exchange Act.
The directive underscores the Bank of Ghana’s commitment to preserving the integrity of the country’s financial system by prohibiting the outsourcing of strategic functions.
According to data from the Bank of Ghana, the total number of advertised jobs for the first seven months of the year went up by 9.5 percent to 24,428, compared with 22,303 recorded during the same period in 2023.
Bank of Ghana was granted operational independence to use whichever policy tools it sees appropriate to stabilise inflation around the target band.
Delivered last week, the court’s judgment highlighted procedural unfairness in the BoG’s actions and mandated that both parties engage in arbitration to resolve the dispute.
We have $7 billion in foreign exchange reserves. If I want to drive the dollar-cedi rate to GHS 10, I can do that tomorrow.
Ms Awadzi emphasised that beyond encouraging women to open bank accounts, there should be incentives for them to use these accounts to grow their businesses.
According to the Bank’s published financial figures for the first nine months of 2024, the bank recorded impressive profit before tax of GHC176.414 million compared with GHC26.999 million recorded during the same period in 2023, representing a profit growth of over 600 percent.
Ghana restructured $13 billion in Eurobond debt, achieving a 98% participation rate from bondholders, paving the way for the resumption of payments.
The report unveiled alarming trend of fraud committed by internal staffs of banks among others.