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Tag Archives: BoG

Bank of Ghana spends GH¢306m on printing cedis in 2019

A total of GH¢306 million has been spent by the Central Bank to print money in 2019 including the new notes of GH¢100 and GH¢200. From GH¢147million spent in 2018, the jump, which represents an increment of 108%, is attributed to the new notes. According to the Bank of Ghana’s 2019 …

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BoG’s GHS10 billion loan to GoG illegal – Jinapor

Former Deputy Minister of Energy under the erstwhile Mahama-led administration John Jinapor has said it is “illegal and a clear violation” of the Bank of Ghana (BOG) Act for the Central bank to lend GHS10 billion to Government. Minister for Finance, Ken Ofori-Atta on Friday, 29 May 2020 in a statement presented …

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BoG gives GHC10m to COVID-19 Trust Fund

After President Nana Addo Dankwa Akufo-Addo, his vice and appointees donated their 3-month salary to the COVID-19 Trust Fund, many people including some members of the opposition political parties have made donations. Faith-based organisations and business moguls have also contributed their quota towards the growth of the national trust. The latest to make …

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Board Chairman of Afro Arab Microfinance hails BOG Governor

The Board Chairman of Afro Arab Microfinance Company limited Alhaji Salamu Amadu has commended the governor of Bank of Ghana(BOG) Dr. Ernest Addison for the bold step he took to help stabilise the financial sector. Alhaji Salamu believes the move by the central bank to “cut interest rates” in fighting …

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Banks deposits growth slows amidst banking reforms

The growth rate in commercial banks’ deposits has slowed down amidst the reforms undertaken by the central bank to strengthen the sector. The Bank of Ghana in its latest banking sector report stated that deposits, as the main source of funding for the banking industry, grew by 17.1 percent in …

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EIU predicts reduction in policy rate this year

Individuals and businesses seeking credit from commercial banks this year should be offered some respite as the Economist Intelligence Unit is predicting that the Bank of Ghana will lower its lending rate. The business intelligence advisory firm in its latest country report stated that the Bank of Ghana’s policy rate …

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BoG to auction US$715m in 2020

The Bank of Ghana will auction US$715 million in Forward Foreign Exchange Auctions in the whole of 2020. The months with the expected highest auctions of US$80 million each are January, February and March 2020. In accordance with the Foreign Exchange Forward Auction guidelines issued on the 23 September 2019, …

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