BUSINESS

Staff of collapsed banks – UT and Capital Banks – are to undergo a skills assessment test by new owners GCB bank as it prepares to lay off workers of the two banks. The operations of the two struggling indigenous banks were taken over by GCB bank Monday following the approval of the Bank of Ghana. Addressing the press Tuesday, ...

The Management of UT Life Insurance Company Limited says the recent announcement by Bank of Ghana on the takeover of UT Bank by GCB Bank Limited does not in any way affect UT Life. The Bank of Ghana on Monday announced the liquidation of UT Bank, a subsidiary of UT Holdings and Capital Bank following their inability to pay their ...

The Central Bank has hinted at the possibility of job losses at two collapsed banks, UT and Capital Banks as GCB Bank rolls out its restructuring process, after acquiring them. The revelation by the financial regulator feeds into the fear of the over 900 staff of the two banks that they will be laid off following the transaction. Head of ...

Telecom operator, Tigo is marking the 5th anniversary of its Tigo Digital Changemakers Competition and has committed to reinvesting an additional GHS135,000 to advance the impact of leading social entrepreneurs in the programme. Tigo disclosed that the competition which has been running in partnership with the international non-profit organization Reach for Change, will see a boost from its reinvestment decision ...

The industry first family promotion by Access Bank, “Abusua Akyɛdeɛ”, has held its first mini draw at the Bank’s Osu Oxford Street branch to reveal the first batch of winners. The Konyah family emerged as the winner of the Group draw, taking away an all-expense paid holiday package whiles Front View Enterprise and Brave World Cons Limited came tops in ...

A lecturer at the Ghana Institute of Management and Public Administration (GIMPA) Clement Akapame has tasked the Bank of Ghana (BoG) to take a second look at its monitoring of the country’s banking sector. This follows the Central Bank’s revocation of the licenses of UT bank and Capital bank due to “severe impairment” of their capital. The BoG has therefore ...

The Bank of Ghana has announced that three more Banks have been licensed to begin operations in the country soon. The banks will take the number of licensed banks in the country to 34 after two banks – UT Bank and Capital Bank – collapsed on Monday. The governor of the Bank of Ghana Dr. Ernest Addison addressing a press ...

Standard Chartered has appointed Professor Akua Kuenyehia and Henry Baye as Independent Non-Executive Director and Executive Director respectively, to the Board of the Bank. A communique by the bank said their appointments took effect from July 27, 2017. Commenting on the appointments, Ishmael E. Yamson, Chairman of the Board of the Bank said, “It is indeed a pleasure to have ...

Finance Minister, Ken Ofori-Atta, has said with a stable political climate, sustained macroeconomic indicators, an advantageous geographical positioning, and strengthened local banks, the country can become an international financial centre, in sub-Saharan Africa. “There is an opening for an international financial services centre in sub-Saharan Africa and north of South Africa and we have every opportunity to do that. Let ...

As part of his Corporate Social Responsibility, the president of Groupe Ideal, Nii Kotei Dzani has promised to award 10 scholarships to some deserving students. Speaking at the 9th Congregation of the University of Professional Studies (UPSA), the entrepreneur also announced to give automatic employment to 10 brilliant graduates in Business. The Council of State member has also promised to ...