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Local banks to slash more than 5,000 jobs as confidence drops

Indigenous banks are likely to be laying off staff shortly to meet the Central Bank’s GHC400million minimum capital requirement threshold. Consumer confidence in indigenous banks has dipped drastically as depositors have been seen moving their investments and savings to foreign-owned banks. As a resolve of staying afloat in the financial …

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Government plans GH¢300m monthly debt issuance for pension funds

debt

To ensure that pension funds are used efficiently to address the country’s housing delivery and infrastructure needs, government is planning reforms that will allow banks to issue securities for pension funds, collective investments and insurance investment portfolios. According to Finance Minister Ken Ofori-Atta, given the long-term nature of pension funds, …

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