INTER BANK RATES

CURRENCYBUYINGSELLING
U.S Dollar4.79344.7982
Euro5.49985.5050
Pound Sterling6.25836.2669
Swiss Franc4.82594.8307
Canadian Dollar3.69393.6980
S/African Rand0.32210.3225
Australian Dollar3.38513.3923

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Mobile money agents demand insurance from telcos The Mobile Money Agents Association of Ghana (MMAAG) is asking their respective telecommunication companies on the mobile money platform to insure them. Speaking to the Ghana News Agency on Friday, the executive members of MMAAG, said the mobile money business was a risky one and therefore the need for the formulation and implementation of an insurance policy to cushion merchants. They noted that the upsurge of armed robbery attacks on merchants had put fear into majority of their 95,000 members across the country as there were no protection for their lives and operations.
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GH¢400m Recovered From UT, Capital Banks’ Assets Some GH¢400 million has been realised from the sale and recovery of assets of erstwhile UT and Capital banks, Joint Receivers of both banks, PricewaterhouseCoopers has disclosed. According to a statement issued by PricewaterhouseCoopers and signed by one Eric Nipah, a key component of the Receiverships is to secure all assets including the recovery of outstanding loans and advances not assumed by GCB for the benefit of creditors. “The greatest value of the banks’ assets is the loan stock. It constitutes approximately 70 per cent of the total assets of GH¢3.9 billion of the banks and this is at the heart of our recovery efforts. The total loan stock of the two banks amounted to GH¢2.7 billion as at the receivership date,” the statement by the Joint Receivers said. We have realised over GH¢400 million through our sale and recovery efforts,” PricewaterhouseCoopers noted. Both UT and Capital banks went into receiv...
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Airports Company Profits Drop By 43% John Attafuah The Ghana Airports Company Ltd (GACL) recorded a 43% decline in its profit for the year 2017. Profit after tax of the Ghana Airports Company Limited as of 2017 stood at  GH¢ 87 million compared to  GH¢ 153 million in 2016. Speaking at the 6th Annual General Meeting (AGM) of the GACL, Managing Director John Attafuah said moving forward the company would take steps to prepare its accounts in dollars. Mr Attafuah said, “The company continues to operate profitably with a performance of about GH¢87 million profit before tax, which is lower by 43% compared to the previous year. Essentially, operational cost and currency exchange losses contributed to low profit.” “That is why moving forward we have written to the Ghana Revenue Authority to allow us to prepare our financials in dollars. This will help in reflecting the true value of our activities,” he explained. Air traffic movement Overall Air traff...
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