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HSBC sees full year profit plunge 62% to $7.1bn

HSBC has reported a 62% fall in annual pre-tax profit for 2016. The $7.1bn (£5.7bn) figure compares with $18.9bn a year earlier, and is well short of the $14.4bn analysts had been expecting. The bank attributed the fall in profit to a…

What Akufo-Addo’s SONA2017 should address

As President Akufo-Addo gets set to address Parliament this morning on the State of the Nation, policy think-tank IMANI has been looking at areas his address should focus on. Below is the full statement: Promising a host of social,…

GRA to tax mobile money services

The Ghana Revenue Authority is considering taxing mobile money services in the country. The move is in line with plans to plug loopholes in revenue mobilization in the informal sector. Figures released by the Bank of Ghana show mobile money…

APR and AI paid on deposit drops at 27.6%

The Bank of Ghana has, on Monday, February 20, 2017 released its latest data on Annual Percentage Rates (APR) of interest charged on loans and credit advances and  the Average Interest (AI) paid on deposits by banks. The data is based on…