• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

Covid-19: Enhanced regulation, supervision required to sustain financial sector recovery – BoG

4 years ago
in Banking & Finance, Economy, highlights, Home, home-news, latest News
2 min read
0 0
0
Dr Ernest Addison - norvanreports

Dr Ernest Addison - norvanreports

135
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Covid-19: Enhanced regulation, supervision required to sustain financial sector recovery – BoG

The Central Bank has said that despite Ghana’s financial system proving resilient to the COVID-19 pandemic on the back of timely policy interventions by financial sector regulators, enhanced regulation and supervision of the sector is required to ensure the sustenance of the sector’s recovery from the pandemic.

According to the Central Bank, enhanced regulation and supervision of the financial sector is needed to ensure that spillover risks from the COVID-19 pandemic are well contained.

Giving an overview of how the country’s financial sector faired in 2020 amid the heat of the pandemic, the Central Bank in its 2020 Financial Stability Review report, noted that the banking sector proved resilient to shocks over the review period with results of several stress tests showing that the banking industry remained robust to credit, exchange rate, interest rate and liquidity shocks.

At end-December 2020, the financial soundness indicators for the banking industry indicated strong capital, liquidity and profitability levels, despite a marginal decline in asset quality.

Also, the insurance industry remained generally positive in 2020 with gross premiums and the industry’s capital base increasing by 20.6 percent and 15 percent respectively.

Must Read: Inflation is a greater policy test for emerging-market sovereigns

RelatedPosts

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

GSE Opens Week Higher as CPC Posts First Gain of 2025

The gains made in the review year, are expected to further improve in the near-to-medium term, with the anticipated passage of the new insurance bill and the enforcement of the new Minimum Capital Requirement (MCR).

In the securities industry, total Assets Under Management (AUM) recorded 8.04 per cent growth in 2020, on the back of an increase in pension funds under management, despite the license revocation of 53 fund management companies.

On the local bourse, the Ghana Stock Exchange (GSE) recorded a bearish performance. Developments on the GSE was characterised by a 4.4 per cent loss in market capitalisation and a negative 13.98 per cent end-of-year return. These developments were attributed to low demand and excess supply of equity stocks in light of uncertainties from the COVID-19 pandemic.

The pensions industry also maintained a strong growth momentum, as the public pension fund administered by the Social Security and National Insurance Trust (SSNIT) rebounded from contraction in the previous years to 26 per cent growth in 2020.

The industry’s performance was due to the rapid growth of private pension funds, the partial settlement of government indebtedness to the Tier 1 scheme, and the implementation of timely COVID-19 related initiatives and regulatory developments aimed at enhancing the general outlook of the pensions industry.


Source: norvanreports
Tags: Bank of Ghana (BoG)COVID-19 pandemicghana
No Result
View All Result

Highlights

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

Gov’t Pledges to Intensify Reforms in Gold Sector Ahead of Crucial Anti-Money Laundering Assessment

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Ghana Revenue Authority Targets Retrieval of GHS 163m in Unpaid Taxes and VAT Arrears

Nurturing Dreams: Ghana’s Football Future Blossoms with Talent Identification Initiative

Trending

Features

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

August 26, 2025

Premier League: Ngumoha’s Late Goal Seals Liverpool's Thrilling Win Over Newcastle Liverpool triumphed 3-2 over Newcastle United...

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

August 26, 2025

GSE Opens Week Higher as CPC Posts First Gain of 2025

August 26, 2025

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

August 26, 2025

Gov’t Pledges to Intensify Reforms in Gold Sector Ahead of Crucial Anti-Money Laundering Assessment

August 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.