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National Investment Bank and National Insurance Commission Boards Inaugurated

Accra, August 18, 2017 - The Deputy Minister of Finance has called on the reconstituted board for the National Insurance Commission (NIC) to help the Commission to strategize and retool to improve its effectiveness and efficiency.
 
The Deputy Minster also urged the Board to ensure that the NIC improves its compliance with Principles of the International Association of Insurance.
 
He made these remarks at the inauguration of the NIC Board, held at the Ministry of Finance, Accra.

MoF Entity Tender Committee Inaugurated

Accra, August 17, 2017 - A ten-member Entity Tender Committee (ETC) for the Ministry of Finance has been inaugurated in Accra.
 
The Committee, chaired by the Minister, Hon. Ken Ofori-Atta, includes Mrs. Elfreda Dankyi; Mr. Ernest Ofori Nyarko; Mr. Patrick Nomo; Mrs. Felicia Gyamfi Ashley; and Ms. Eva Mends.
 
Other members are Mr. Samuel D. Arkhurst; Mr. Abraham Kofi Tawiah; Ing. Magnus L. Quarshie; and Mr. Daniel Foli.

Board of Ghana Exim Bank Inaugurated

Accra, August 1, 2017 – Hon Kweku Agyeman Kwateng has inaugurated a nine-member Board of the Ghana Exim Bank at a ceremony held at the Ministry of Finance. The Board, which is chaired by Mr. Kwadwo Boateng Genfi, has the CEO of the Exim Bank, Mr. Lawrence Agyinsam; Mr. Ofotsu A. Tetteh-Kujorjie; Mr. Robert N.K.O. Ahomka-Lindsay; Dr. Johnson P. Asiamah; Nana Dr. Appiagyei Dankawaso I; Mr. Peter Kwame Abebrese; Madam Catherine Quaidoo; and a representative from the Ghana Export Promotion Authority as members.

Bank of Ghana cuts Policy Rate to 21%

For the fourth time this year, the Monetary Policy Committee (MPC) of the Bank of Ghana has reduced its policy by 150 basis points to 21% from 22.5%. Addressing journalists at a news conference in Accra Monday, the governor cited an improved economic outlook for the rate cut adding that “economic activity continued to improve supported by a rebound in crude oil production.
 

GCB Bank Presents Dividend to Government

GCB Bank has presented a cheque for GH¢21.5 million as dividend payment to government, for the year ending 2016. The total dividend amount is GH¢100 million, with a net profit of GH¢440 million, and a 25 percent dividend yield.

Receiving the cheque, the Minister of Finance, Ken Ofori-Atta expressed his gratitude to GCB Bank for the gesture and commended the Bank for the role it is playing in the Ghanaian economy.

Ghana benefits from Germany's 'Compact with Africa' Programme

Ghana is one of the three countries in Africa to benefit from Germany's 'Compact with Africa' Programme.The programme will assist Ghana improve conditions for sustainable private sector investment, infrastructure, economic participation, and generate employment in the country.

This was made known by the Minister for Finance, Ken Ofori-Atta, at a meeting with the Ghanaian community resident in Germany, held in honour of President Nana Addo Dankwa Akufo-Addo, in Berlin.

Finance Minister Inaugurates New Board for Ghana Revenue Authority

Accra, May 16, 2017 – A nine - member Board of the Ghana Revenue Authority (GRA), has been inaugurated by the Minister of Finance, Mr. Ken Ofori-Atta.
 
Addressing the Board, the Minister said revenue mobilization was the first of the five pillars defined by government to lead government’s economic transformation program.

Presentations at the National Policy Summit

The two-day summit provided a platform where some selected ministries engaged stakeholders on specific policies and the implementation plans.

The event  also gave private sector businesses an opportunity to discover ways of tapping into these policies.
 

Fitch Revises Outlook on Ghana to Stable: Affirms at 'B'

Fitch Ratings-Hong Kong-12 May 2017: Fitch Ratings has revised the Outlook on Ghana's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) to Stable from Negative and affirmed the IDRs at 'B'. Fitch has also affirmed the issue ratings on Ghana's senior unsecured foreign and local currency bonds at 'B', as well as the 'BB-' rating on Ghana's USD1 billion partially guaranteed note. Ghana's Country Ceiling and Short-Term Foreign and Local Currency IDRs have been affirmed at 'B'.

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