…despite channeling huge resources into gov’t bills
Although data show banks have developed a high taste for lending to government, industry players say the sector is ready to support businesses get back on their feet despite the risk in doing so.
According to the banking sector report (March 2021) published by the Bank of Ghana, the asset structure of the industry shows investment in government instruments for the first two months of the year made up 43.1 percent, while net advances – loans given out – formed just 28 percent. What this simply means is that banks are pushing more money into buying long-term Treasury bills rather than giving such monies as loans to businesses due to risk associated with the latter.
Kojo Oppong Nkrumah justifies establishment of Development Bank Ghana ghanavisions.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ghanavisions.com Daily Mail and Mail on Sunday newspapers.
GIMPA-GRASAG threatens to sue, close down account with CBG over breaches
By Reporter Listen to article
The Ghana Institute of Management and Public Administration(GIMPA), chapter of Graduate Students Association of Ghana (GRASAG), has served notice it will terminate its banking relationship with Consolidated Bank Ghana (CBG) if the bank fails to unravel circumstances that led to the Association s bank statement released to an authorised person.
They ve further threatened legal action against the bank for breaching customer banking relationship. I write to invoke your investigation powers on the suspicious grounds on which someone in your institution is divulging our account information to a third party or someone outside our relationship which amounts to a breach of customer banking relationship, a letter written to the bank and sighted by
In line with its commitment to empowering local businesses to thrive in the midst of COVID-19, Consolidated Bank Ghana (CBG) has hosted the second edition of its ‘Adesua Series’ to educate its Small and Medium Enterprises (SMEs) clients on the African Continental Free Trade Area Agreement (AfCFTA) opportunities.
The virtual event, themed “Time with Customs Division of Ghana Revenue Authority (GRA) on Import/Export Procedures and AfCTA Opportunities”, aimed at removing ambiguity about procedures and also to encourage CBG SME customers to follow the laid down procedures to avoid paying penalties or being taken advantage of by Clearing Agents.
Reiterating CBG’s commitment to support SME clients in the wake of the COVID pandemic, Deputy Managing Director of CBG, Thairu Ndungu, said the bank is committed to being at the forefront of supporting SMEs. He said, “We pledge to be at the forefront of servicing SMEs with products and value propositions designed to grow their