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Chamber of Mines to sell 125,000 ounces of gold to BoG

Gold-producing member companies of the Ghana Chamber of Mines will, between now and December 2022, sell about 125,000 ounces of gold to the Bank of Ghana (BoG) under the central bank’s Domestic Gold Purchase Programme. The decision followed a meeting between Vice President Alhaji Dr Mahamudu Bawumia, some other members …

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BoG maintains Policy rate at 19%

The Bank of Ghana (BoG) has maintained the policy rate at 19%. Addressing the media on Monday, July 25, 2022, after the Monetary Policy Meeting, the Governor, Ernest Addison disclosed that one of the reasons for maintaining the rate among other things has to do with how inflation has persisted …

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BoG abolishes unfair fees and charges

The Bank of Ghana has abolished some unfair fees and charges among other practices in the banking sector, in an effort to protect the public. In a notice, the central bank highlighted that maintenance fees on savings accounts charged by financial institutions are prohibited. “Always look out for debits on …

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BoG cautions against new cryptocurrency ‘Sidicoin’

Financial institutions warned against accepting crypto transaction Sidicoin not licensed by BoG Public warned against cryptocurrencies The Bank of Ghana is cautioning the general public against a new cryptocurrency Sidicoin which is set to be launched soon. According to the Central Bank the investment scheme has not been licensed nor has approval …

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