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Only 10% of oil & gas businesses are insured locally

Only 10 percent of companies operating along the entire upstream oil and gas value chain are insured locally with the largest chunk getting insured ....

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Banks declare readiness to support businesses

…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. ....

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What does the Queen's Speech 2021 mean for consumers? – Which? Conversation

After a year that saw the planned political agenda completely blown off course, the government has set out its plans. So what’s on the cards for consumers?
How much time have you spent online in the last year? In all likelihood, more time than before. The pandemic has acted as a catalyst for the digitalisation of our lives so it’s no surprise digital issues were a focus.
Spotlight on digital
First up was a
Product Security and Telecommunications Infrastructure Bill. For years, our investigations have highlighted insecure connected products currently on the market, such as hackable wireless cameras. This announcement is a welcome – and much needed – step to tackle the flood of poorly-designed and insecure products that leave consumers vulnerable to cyber-criminals. ....

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Cash Summit: Securing our Freedom to Pay – Which? Conversation

Post-meeting update
At today’s Cash Summit we were delighted to hear Economic Secretary to the Treasury John Glen confirm that a consultation on cash legislation will be launched in the Summer. This is an extremely positive development towards getting these critical long term protections introduced.
The government must deliver at pace on it’s promises, or risk leaving the cash system vulnerable to further damage.
We also heard about UK Finance’s commitment to protecting access to cash, and the launch of its new Cash Action Group, which will be led by Access to Cash Review Chair, Natalie Ceeney, in addition to renewed commitments from the Post Office and major banks to supporting the provision of cash access for consumers. ....

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Protecting Access To Cash And Banking Services - Speech By Sheldon Mills, UK Financial Conduct Authority, Executive Director, Consumers And Competition, Delivered At Which? Cash Summit 2.0 – Cash Access And Acceptance

Protecting Access To Cash And Banking Services - Speech By Sheldon Mills, UK Financial Conduct Authority, Executive Director, Consumers And Competition, Delivered At Which? Cash Summit 2.0 â Cash Access And Acceptance
Date
Event: Which? Cash Summit 2.0 – Cash access and acceptance
Delivered: 13 May 2021
Highlights
Based on our evidence, we believe that access to cash across the UK is generally good for most people. However, as the future of cash and branch banking evolves, government, regulators and industry need to play their part in maintaining good access.
The Financial Conduct Authority (FCA) and the Payment Systems Regulator (PSR) are committed to protecting access to cash, particularly for cash reliant vulnerable consumers. ....

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