Finance
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BoG designates digital credit as non-bank service under new licensing rules
The Bank of Ghana (BoG) has formally classified digital credit services as a non-bank financial service, marking a significant step in the regulation of Ghana’s fast-growing digital lending industry.…
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BoG bans dollar pricing for school fees, rent, and airline tickets
The Bank of Ghana (BoG) has issued a renewed warning to the public and business community against conducting unlicensed foreign exchange transactions, stressing that such practices remain illegal und…
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Ghana committed to economic stability and business expansion – Julius Debrah
Government has reiterated its commitment to strict fiscal discipline while channeling investments into key sectors to consolidate Ghana’s recent economic recovery. Chief of Staff at the Office of the…
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GIPC, JETRO seal two-year partnership to promote cross-border trade
The Ghana Investment Promotion Centre (GIPC) and the Japan External Trade Organisation (JETRO) have signed a two-year Memorandum of Understanding (MoU) to strengthen business and investment relations…
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SEC set to introduce new Forex Trading guidelines in Ghana
The Securities and Exchange Commission (SEC) has announced steps to fast-track the development of regulatory guidelines for foreign exchange (forex) trading in Ghana, a move aimed at boosting transpa…
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Absa Bank launches agency banking to expand financial inclusion
Absa Bank Ghana has rolled out its Agency Banking proposition, a new initiative designed to extend financial services to underserved peri-urban and rural communities where access to traditional banki…
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Cheque usage rises 31% in value on larger transactions, though overall volumes fall
The 2024 Financial Stability Review has revealed a striking shift in Ghana’s payment landscape: while the number of cheques written declined marginally, the total value of cheque-based transactions s…
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Interest rates on personal loans decrease from a peak of 50% to a range of 20-40%
Interest rates on loans in Ghana have significantly declined, falling from a high of around 50% earlier this year to a range between 20% and 40%, offering considerable relief to households, small and…