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Tag Archives: Consolidated bank

Ghana’s debt hits 172.9 billion cedis

debt npl

The total amount that Ghana owes reached 172.9 billion cedis in November 2018. This is according to data from the Bank of Ghana. The Summary of Economic and Financial data by the central bank shows that between July and November 2018, the country added 13.2 billion cedis to its debt. The figure went up from 159.7 billion cedis to 172.9 ...

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Consolidated bank given bond cash – BoG Governor

Governor of BoG, Dr. Ernest Addison

The Bank of Ghana has clarified that it has made available cash from the bond issued in the name of the Consolidated bank. According to the Governor of the central bank, Dr. Ernest Addison, the move has helped in positioning the bank to undertake its business as usual. His comments come on the back of concerns by some analysts following the ...

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Consolidated bank assesses skills of staff

consolidated bank

Current employees of the Consolidated Bank Ghana Limited are to undergo assessment tests scheduled for September 15th and 16th, 2018. This follows the completion of application processes for all the workers of the bank. A memo to all staff and sighted by Citi Business News also stated that the tests will be carried out in ten centres across the country. ...

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Labour Ministry intervenes in layoffs at Consolidated bank

Ignatius Baffour Awuah - Minister of Employment and Labour Relations

The Employment and Labour Relations Minister, Ignatius Baffour Awuah has stated that he will by the end of the week meet with stakeholders and workers of the Consolidated Bank alongside some labour unions to address their concerns. Among other things, the meeting would seek to deliberate on labour plans for the consolidated bank and what would be factored in case labour ...

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ICU negotiates exit packages for Consolidated bank staff

consolidated bank

The Industrial and Commercial Workers’ Union (ICU) is to meet the receiver of the Consolidated Bank Ghana soon, over the exit packages for workers of the five collapsed banks. The labour union is hopeful its intervention will reduce the impact of job layoffs on the livelihoods of the affected employees. According to the General Secretary of the ICU, Solomon Kotei, ...

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Economist blames poor data for high redundancy over bank collapse

Prof William Baah Boateng

Economist Prof. William Baah Boateng has attributed the many challenges and developments in the banking industry to what he describes as the lack of reliable data to monitor activities in that sector. The lack of reliable data in his view, is a major hindrance in arriving at proper decisions to address the impact of the crisis. “Data is the fundamental ...

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Customers frustrated over inaccessibility to cash at Beige bank

consolidated bank

Fixed deposit account holders of defunct Beige bank are still unable to access their matured investments from the company. The issue comes despite the expiration of the ten day suspension of withdrawals from the said accounts. The Managers of the Consolidated bank on August 9, 2018 put a hold on all withdrawals of fixed deposit accounts to allow them investigate ...

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Consolidated Bank slashed our allowances by 60% – Former Beige employee 

BEIGE

A former staff of defunct BEIGE Bank, has revealed that Consolidated Bank Ghana Limited slashed their allowances by over 60 percent. Speaking on the Citi Breakfast Show on Tuesday, she said they were shocked when they found out that such a considerable margin had been slashed from their allowances. “Our salaries were paid. We were paid last Friday, but we ...

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‘Excess’ staff of Consolidated bank to get alternative jobs

Charles Adu Boahen - Deputy Finance Minister

Deputy Finance Minister, Charles Adu Boahen has disclosed of an ambitious plan by the government to address issues of redundancy with the consolidation of five local banks. He explains that the government is working to reduce the number of workers who may be laid off for one reason or another, when the processes of consolidation are completed. Mr. Adu Boahen ...

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Compliance level for banks’ recapitalisation risky – Economist

Economist Dr. Lord Mensah

Economist, Dr. Lord Mensah has described as quite disappointing, the number of banks that are yet to meet the minimum capital requirement. According to him, the development shows how most of the banks are struggling to meet the deadline by end of year [2018]. “It is quite disappointing because banking operations is basically sourcing for funds and uses of funds,” ...

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