Banking and Finance

MTN, the mobile telecommunication network, is urging the public to stay vigilant to protect themselves from falling prey to mobile money fraud, a problem that has been plaguing many subscribers in recent years. Scammers cunningly pose as representatives of mobile telecom companies, tricking unsuspecting individuals into believing them and ultimately defrauding them. Despite numerous instances … Read more

Accra, July 11, 2023 – In a significant move to combat cybercrime and protect the rights of individuals seeking financial assistance through digital lending apps, the Cyber Security Authority, in collaboration with the Bank of Ghana and the Economic and Organized Crime Office (EOCO), has successfully conducted a joint operation leading to the arrest of … Read more

Shareholders of GCB Bank have voted overwhelmingly to allow the bank to raise up to GH¢1 billion in additional equity capital. This injection of funds will primarily be used to meet regulatory capital adequacy ratio requirements, enhance deal-making capacity, and take advantage of market opportunities. The bank’s Managing Director, Kofi Adomako, expressed gratitude for the … Read more

In a recent report by Bloomberg, Ghana’s local currency, the Cedi, has been classified among African currencies with the ‘worst spot returns.’ The World Currency Ranker placed the Cedi’s performance at 17th, showing a depreciation of 11.21 percent. The Cedis Against the US Dollar Although the Cedi experienced a loss of about 11.21% against the … Read more

In an SMS circular to customers, MTN MobileMoney Limited said, “Y’ello Valued Customer, kindly note that effective July 1, 2023, Cash out transactions below Ghc2,000 will attract a fee of 1%. Cash-out transactions from Ghc2,000 and above will attract a flat fee of Ghc 20. This will be charged to your wallet. Do not pay any other fee to any MoMo agent. Just Momo it”.