Frank Adu Jnr, outgoing Chief Executive Officer of CAL Bank The outgoing Chief Executive Officer of CAL Bank, Frank Adu Jnr has advised Managing Directors of local banks to go through the required and legal processes to grow their banks. He cautioned that it is very dangerous for owners of local banks to take depositors’ […]
Tag: cal bank
Here is an advice from the outgoing CEO of CAL Bank, Frank Adu to local banks that want to grow
In December 2018, the Bank of Ghana completed a cleanup exercise of the sector. By the end of the exercise the licences of 9 local banks had been revoked. However, the CEO of CAL Bank says it is prudent to follow the rules in the sector in order to grow. The outgoing Chief Executive Officer […]
Banks should take on more risks – ADB boss
With increased capital, banks should take on more strategic risks by booking more loans and supporting local businesses to grow, Dr. Kofi Mensah – Managing Director of Agricultural Development Bank (ADB), has said. “I am expecting incremental funding into the private sector, and the Ghanaian banks are more welcoming when it comes to injecting capital […]
Philip Owiredu to succeed Frank Adu Jr. as CAL Bank MD
Philip Owiredu is to succeed Frank Brako Adu Junior as CAL Bank MD The Executive Director and Chief Financial Officer of CAL Bank, Philip Owiredu, is to succeed Frank Brako Adu Junior, as Managing Director following Bank of Ghana’s (BoG) approval. JoyBusiness understands that Mr Owiredu is expected to formally assume office as Managing Director […]
GFA President reiterates commitment to development of beach soccer
The President of the Ghana Football Association, Kurt Okraku, has reiterated his commitment to the development of Beach Soccer in Ghana. The President gave the assurance when Keta Sunset Club and officials of the Ghana Beach Soccer Association presented trophies and medals Sunset Club won at the Copa Lagos 2019 Beach Soccer Tournament over the […]
CAL Bank MD fights proposal to cap interest rates
Frank Adu Jnr CAL Bank Managing Director, Frank Adu Jnr, is predicting dark times for Ghana’s banking sector should government legislate a cap on interest rates. President Addo Dankwa Akufo-Addo has raised concerns over the high-interest rates in the country warning it jeopardizes the cost of doing business in the country. But speaking at Cal […]
Full details of why government terminated PDS deal
The government of Ghana has terminated its concession deal with Power Distribution Services Limited regarding the distribution of electricity in Ghana. A letter dated 18 October 2019 signed by Finance Minister Ken Ofori-Atta sighted by ClasssFMonline.com, said: “Following consultations with Government, we wish to emphasise that Government remains strongly committed to the Compact and to […]
[List] Go To These 96 Branches Of 347 Microfinance Companies In Receivership For Business
The Receiver has designated 96 branches of the 347 MicroFinance Companies (MFCs) placed into receivership as operational branches, to serve the customers of these institutions as well as the customers of other MFCs whose licenses have been revoked. This means that, the Receiver’s team will cease to operate from any branch of the affected MFCs […]
Botched PDS Deal: The Cat Is Out Of The Sack
Dr E.K.Hayford The Caucus for Democratic Governance, Ghana (CDG–GH), has observed with shock, the flaws, corruption and manipulations leading to the termination of the PDS agreement which is crippling the energy sector in Nana Addo`s Government. A careful review of the letter of termination of the PDS concession agreement by Ken Ofori Atta leads to […]
Bank of Southern California, N.A. (BCAL) and CalWest Bancorp to Merge
SAN DIEGO, Calif. /California Newswire/ — Bank of Southern California, N.A. (OTC Pink: BCAL) and CalWest Bancorp (OTCBB: CALW), today announced the signing of a definitive agreement and plan of merger (the “Agreement”) whereby CalWest Bank will merge with and into Bank of Southern California. The merger is subject to customary closing conditions, including the […]