Tag Archives: Bank of Ghana

The World Bank has disbursed a $300 million loan to Ghana to support the country’s budget and aid in economic recovery. This loan is the first in a series of three operations, each totaling $300 million, aimed at enhancing crisis response and resilience in Ghana under the Resilient Recovery Development …

The Bank of Ghana, under the leadership of Dr. Ernest Addison, Governor of the Bank of Ghana, has taken a significant step in managing the country’s financial sector by writing off GH¢4.33 billion as bad debt in 2023. This marks a substantial 79.2% reduction compared to the previous year’s total …

The Bank of Ghana (BoG) has suspended the foreign exchange trading licences of Guaranty Trust Bank Ghana Limited (GTB) and FBNBank Ghana Limited (FBN) for a period of one month, effective 18th March 2024. The suspension is in accordance with Section 11 (2) of the Foreign Exchange Act 2006, (Act …

Starting March 1, 2024, the Bank of Ghana (BoG) has opted to revise the balance and transaction limits for customers’ mobile money wallets in response to the increasing trend of transactional activities and evolving customer requirements. The adjustment, as disclosed by the Ghana Chamber of Telecommunications, aims to accommodate the …

RightCard Payment Services Limited (LemFi) is proud to announce that it has obtained approval from the Bank of Ghana (BoG) to resume its remittance services to Ghana with some of its approved partners. This is consistent with RightCard’s (LemFi) commitment to providing secure and efficient services while complying with the …

The Minority Caucus in Ghana’s Parliament has formally urged Dr. Ernest Addison, Governor of the Bank of Ghana (BoG), to schedule a meeting to submit their petition calling for his removal from office. This follows the Minority group’s earlier attempt in October 2023 to present their petition at the Central …

Zeepay Ghana Limited has entered negotiations with the Bank of Ghana (BoG) to address the temporary suspension of its forex license. The Central Bank’s action, attributed to Zeepay’s non-compliance with prescribed protocols for converting settlement funds into the local currency, prompted discussions between the two entities. The suspension of Zeepay’s …

Stonebwoy says he should have acted with due diligence in his “advocacy” for Sidicoin, a Non-Fungible Token (NFT). In a statement Stonebwoy shared on his Twitter account, he said his eagerness to introduce what he has been learning on emerging technologies to the public was the reason he was advocating for Sidicoin. “In hindsight, …

The Bank of Ghana (BoG) says that effective July 1, 2022, the Ghana Card shall be the only identification card accepted for any form of banking or financial transactions in the country. According to a statement signed by the secretary of the central bank, Sandra Thompson, all licensed and regulated …

The GH¢1 and GH¢2 notes will be phased out of circulation soon, as the Bank of Ghana gradually plans to remove them from circulation. According to the Central Bank, the poor handling of the notes, that is torn and soiled, make it expensive to print them. Governor of the Bank …