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2020 SoNA: Receivers of collapsed banks to start paying customers on Feb. 24 – Akufo-Addo

President Akufo-Addo has disclosed that the Receivers of collapsed banks and microfinance institutions will from Monday, February 24 start paying depositors who have had their monies locked up due to the financial sector clean-up. He said government is mobilizing GH¢13 billion to pay the customers of these financial institutions. “We inherited a collapsing financial sector. The government is having to conjure ...

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Savings and Loans depositors will get 100% of their deposits – Bawumia

The Vice President, Dr Mahamudu Bawumia, has assured depositors whose funds have been locked up in regulated but defunct financial institutions of full restitution of their funds. Speaking at the Great Hall of the Kwame Nkrumah University of Science and Technology as part of the two-day Government Townhall Meeting and Results Fair in Kumasi, Ashanti Region, on Tuesday, 11th February, ...

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Bawumia unveils ABSA Bank Ghana

The Vice President, Dr Mahamudu Bawumia, has commended Ghana’s banking sector for the continued support for Government initiatives and development programmes over the years. The Vice President is particularly grateful for the support of Barclays Bank Ghana over the years in achieving Government’s flagship programmes in agriculture, education and technology, and for supporting other programmes such as rural telephony network expansion, Ghana Road ...

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Investors ‘fall over each other’ for Ghana bonds

Global Capital markets on Tuesday further voted confidence in the Ghanaian Economy with a five times over-subscription of the countries 3 BillionUSD Eurobond sale at very low rates comparatively. While Ghana went to the Markets to raise 3b USD, investors responded with a15b USD offer for Ghana’s new coupon rates. Market watchers were initially worried Ghana may achieve little success ...

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KuYA condemns govt’s “malicious strategy” to collapse Ashanti owned businesses

Kumasi Youth Association(KuYA) has condemned what it says is the Akufo Addo led-government’s “malicious strategy” to collapse businesses owned by former Finance Minister and Founder of uniBank Dr. Kwabena Duffuor, and other industrious Ashanti businessmen. KuYA, describing the development as an “anti-Asante agenda” stated that there’s a strategic plan to face out Asantes who have made it both in the ...

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Moody’s affirms Ghana’s B3 rating with a positive outlook

Moody’s Investors Service (“Moody’s”) has today affirmed the Government of Ghana’s long-term issuer and senior unsecured bond ratings at B3 and changed the outlook to positive from stable. Moody’s has concurrently affirmed the rating of the bond enhanced by a partial guarantee from the International Development Association (IDA, Aaa stable) at B1. The decision to assign a positive outlook reflects ...

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