banking

Court reverses Bank of Ghana’s revocation of Ideal Finance’s licence.

Admin / March 11, 2025

The ruling, delivered on Monday, March 10, 2025, found that the BoG failed to follow due process in revoking Ideal Finance’s license during its 2019 financial sector cleanup exercise, which targeted insolvent institutions.

BUSINESS NEWS

NON-PERFORMING LOANS REMAINS A PERSISTANT CHALLENGE FOR GHANA BANKING SECTOR.

Admin / January 28, 2025

At the close of 2023, NPLs were already high at 20.6%. But by February 2024, things got worse, with NPLs spiking to a staggering 26.7%. This sharp rise in defaults highlighted the economic and financial pressures borrowers were facing during the early months of the year.