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October 2012 Blog Posts (19)

Bank of Ghana seeks help to deal with troubled banks

The Bank of Ghana (BoG) says it is getting assistance from the International Monetary Fund (IMF) to design a scheme for resolving financial institutions that become highly troubled.

The Bank said this has become necessary in the wake of the global financial crisis of 2007 that saw a number of banks in advanced economies collapse under high debt and excessive…


Added by Linda Larbie on October 24, 2012 at 2:54pm — No Comments

Strengthening Fiscal Discipline and Advancing Transparency and Accountability in Liberia

The Government of Liberia, the World Bank and other international development partners yesterday launched the US$28.55m Integrated Public Financial Management Reform Project (IPFMRP) to assist Liberia to expand and deepen the scope of reforms relevant for advancing accountability, transparency and reduction of corruption in public institutions. 

This project, which was ratified…


Added by Andrea Ayemoba on October 23, 2012 at 2:49pm — No Comments

First Atlantic Relaunched

In the wake of keen competition in Ghana’s banking industry, the customer has now become the focal point. Financial institutions have realized there’s more to actual engagement with our sophisticated customers than what presently exists.

In this light, First Atlantic Merchant Bank Limited is repositioning itself in its resolve to provide prudent financial solutions…


Added by Linda Larbie on October 22, 2012 at 2:42pm — No Comments

Cloud-Based Core Banking Becomes a Reality in Kenya

Temenos, the market leading provider of banking software, has announced that Fountain Credit Services, a new Microfinance Institution (MFI) in Kenya, has launched on TEMENOS T24 for Microfinancing, hosted in the cloud. In doing so, Fountain becomes the first institution in Kenya to adopt cloud-based banking services. By running in the cloud, Fountain has…


Added by Andrea Ayemoba on October 22, 2012 at 2:42pm — No Comments

Standard Chartered Discloses Investment and Expansion Plans at Africa Investor Day

Standard Chartered recently updated investors at its inaugural Africa Investor Day on the Group’s aspirations for the region. The Group will invest over $100m on 110 new branches in Kenya, Ghana and Nigeria alongside five other core markets over the next three years, as well as making substantial hires across both the Wholesale and…


Added by Andrea Ayemoba on October 22, 2012 at 2:38pm — No Comments

GHANA: Customers of some 9 banks can now share their ATMs

It is now possible to use your local ATM card to access your account or make withdrawals from the ATMs of other banks.

But you can enjoy that service currently if you bank with some nine banks which have linked their systems to the national platform christened ‘gh-link.’…


Added by Linda Larbie on October 19, 2012 at 3:35pm — No Comments

GTBank Declares N63Billion Profit at Q3

Guaranty Trust Bank Plc. -the highest-priced equity in the banking sub-sector of the Nigerian Stock Exchange - Thursday  reported a profit after tax of N63 billion for the third quarter (Q3) ended September 31, 2012.

Details of the result released on the floor of the NSE, showed that the bank posted gross earnings of N45.64 billion in Q3, up by 22 per cent…


Added by Andrea Ayemoba on October 19, 2012 at 2:54pm — No Comments

Burkina Faso: World Bank grant to support regional “center of excellence” serving engineering students from 36 countries

The World Bank’s Board has approved a grant of US$10 million to improve existing training facilities and house more students at the International Institute of Water and Environmental Engineering (2iE) in Ouagadougou, Burkina Faso.

As many as 2,500 students will now be enrolled at 2iE by 2015, up from just 650 in 2009. The…


Added by Andrea Ayemoba on October 19, 2012 at 2:53pm — No Comments

World Bank Group Partners with Korean Private Businesses to Invest in Emerging Markets

In partnership with KoFC (Korea Finance Corporation), IFC and MIGA on Tuesday hosted the Korea–World Bank Group Private Sector Seminar in Seoul to discuss opportunities to strengthen their partnership when making sustainable and profitable private sector investments in emerging markets. The forum discussed ways of bringing innovative private sector solutions, including financing,…


Added by Andrea Ayemoba on October 18, 2012 at 2:14pm — No Comments

GTBank’s Online channels receive International Certification

The integrity of Guaranty Trust Bank’s alternative banking channels received a boost recently with the Bank’s receipt of the Payment Card Industry Data Security Standard certification (PCIDSS).

PCIDSS certification is a worldwide security standard maintained by the Payment Card Industry Security Standards Council (PCISSC) to detail acceptable technical and…


Added by Andrea Ayemoba on October 18, 2012 at 1:57pm — No Comments

African Bank selects a Z-CARD® to communicate with foreign nationals

African Bank recently selected a Z-CARD® as part of its marketing mix to generate awareness that it now provides interest free*, short-term loans to foreign nationals who are formally employed and residing in South Africa.


African Bank is the first financial institution…


Added by Linda Larbie on October 17, 2012 at 3:31pm — No Comments

AfDB Joins Development Partners in Support of Agricultural Cooperatives on World Food Day 2012

The African Development Bank joins its development partners and member countries today in celebrating World Food Day 2012.

The official World Food Day theme, announced each spring by the Food and Agriculture Organization of the United Nations (FAO), gives focus to World Food Day observances and raises awareness and understanding of approaches to…


Added by Andrea Ayemoba on October 17, 2012 at 3:15pm — No Comments

IMF MD, Christine Lagarde, Welcomes Pledges from Algeria and Brunei Darussalam to Boost Fund Resources

Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement in Tokyo:

“I warmly welcome commitments by the authorities of Algeria and Brunei Darussalam to contribute additional financing to the IMF. They are joining a concerted action among important creditors to ensure the Fund has sufficient resources to tackle…


Added by Andrea Ayemoba on October 15, 2012 at 12:56pm — No Comments

Niger’s Kandadji Program to Boost Regional Economic Growth, Agriculture, and Electricity in The Sahel

As part of its long-term solution to recurring drought, and chronic food and power shortages in Africa’s Sahel region, the World Bank’s Board of Executive Directors have approved US$203 million for the “Niger Basin Water Resources Development and Sustainable Ecosystems Management Program (APL 2A),” which will contribute to the funding of the Kandadji Program to increase food production,…


Added by Andrea Ayemoba on October 12, 2012 at 2:51pm — No Comments

IMF Outlook for Sub-Saharan Africa: “Maintaining Growth in an Uncertain World”

The International Monetary Fund (IMF) today released the October 2012 Regional Economic Outlook: Sub-Saharan Africa. Ms. Antoinette Monsio Sayeh, Director of the IMF's African Department, commented on the report's main findings:

“Economic conditions in sub-Saharan Africa have remained generally robust against the backdrop of a sluggish global economy. Most low-income…


Added by Andrea Ayemoba on October 12, 2012 at 2:47pm — No Comments

SCB Introduces Care4Ladies Insurance Product to customers

Standard Chartered Bank (SCB) in partnership with Enterprise Life Assurance Company on Tuesday introduced Care4Ladies Insurance Plan, the first ladies-only insurance product in the market.


The care4ladies insurance plan is a life assurance policy…


Added by Linda Larbie on October 10, 2012 at 3:08pm — No Comments

October is ‘Volunteering Month’ for employees across Stanchart African footprint

Employees aim to make a difference in the community with a target of more than 5,700 volunteer days

October is ‘Volunteering Month’ for…


Added by Linda Larbie on October 10, 2012 at 3:02pm — No Comments

Bank of Africa wins Most Customer-Oriented Company of the Year

Bank of Africa has won the most customer-oriented institution of the year 2012 at the just- ended 3rd Ghana Customer Service Awards held at the British Council.

The award ceremony was part of the 2nd Ghana Customer Service week…


Added by Linda Larbie on October 10, 2012 at 2:26pm — No Comments

IMF Concludes ECF Review Mission to Côte d’Ivoire

An International Monetary Fund (IMF) mission led by Mr. Michel Lazare, Assistant Director in the IMF’s African Department, visited Abidjan during September 19–October 3, 2012 to conduct discussions for the second review of a program supported by the Extended Credit Facility (ECF), which was approved by the IMF Executive Board on November 4, 2011 in the amount of SDR 390.24 million (about US$616 million). The…


Added by Andrea Ayemoba on October 4, 2012 at 2:03pm — No Comments

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