September 19, 2017//-Sentiment was on the bearish side on African markets this week. Most indices under our watch closed on negative territories with the Zimbabwean stock exchange being the exception that proves the rule.
Category: Banking & Finance
African Risk Capacity’s Outbreaks & Epidemics Insurance Takes Off
Accra, September 18, 2017//-African Risk Capacity (ARC), a specialised agency of the African Union (AU) to help Member States better plan, prepare and respond to weather-related disasters has introduced a project dubbed- ‘Outbreaks & Epidemics Insurance for African Governments’.
BoG Warns Commercial Banks
Accra, September 15, 2017//-The Bank of Ghana (BoG) has said it will welcome mergers among banks that may not individually meet its new capital requirement but cautioned against what it called “disorderly consolidation”.
Dusk Capital CEO: Recapitalisation Must be Time Bound
Accra, September 15, 2017//-The recent increase in the minimum capital requirement for universal banks from GH¢120million to GH¢400million must be strictly time-bound and not allowed to dawdle if the objectives of the recapitalization move by the Central Bank is to be achieved, Bernard Osei-Tutu, Chief Executive Officer of Dusk Capital has said.
GCB Lays Off 1000 of UT Staff after Take Over
Accra, September 1, 2017//-Management of GCB Bank Limited has terminated the appointment of about 1000 workers of the now collapsed UT Bank Limited following liquidity challenges last month.
Ghana: Bearish sentiments Swell Around GCB stocks
—since takeover of UT & Capital banks Accra, September 13, 2017//-Exactly a month ago after the GCB Bank takeover of UT and Capital banks, all but one GCB stakeholder seems not to accept the new normal.
Africa50 Gains Guinea and DR Congo as Shareholders
Dakar, Senegal,September 12, 2017// Africa50, the pan-African infrastructure investment platform, held its third Shareholder Meeting in Dakar on Tuesday, September 12 where two new Africa50 shareholders, Guinea and the Democratic Republic of Congo were welcomed.
Only 3 Banks in Line to Meet Capital Requirement
Accra, September 12, 2017//-Only three banks out of the 34 banks currently operating in the country are in a position to meet the new GH¢400 million minimum capital requirement set by the Central Bank of Ghana (BoG) without recourse to additional capital, credit consultant, Emmanuel Akrong has said.
Insurance Group Drives Digital Strategy with SSP Pure Insurance
Harare, Zimbabwe, September 12, 2017/ — Insurance technology specialist SSP, has signed a new deal with the Masawara Group of insurance companies.
HFC Bank becomes ICU Member
Accra, September 11, 2017//-The General Secretary of the Industrial and Commercial Workers Union (ICU) of the Trades Union Congress (TUC), Solomon Kotei has inaugurated the HFC Bank Staff Union with a call on employers to recognize the rights of workers in the country.