Financial Services

The implementation of a national pension scheme is expected to have a profound impact on several sectors of the Ghanaian economy. The new pensions law, the National Pensions Act, 2008 (Act 766) was enacted in December, 2008. It aims to make the system accessible to more people and encourage contributions.

With the vast majority of Ghanaians unable to afford insurance, sector players have been looking at other ways in which to increase penetration, one of which includes microinsurance. As a cheaper, smaller-scale version of risk mitigation, many believe it could work as a catalyst to boost growth and increase customer numbers. The segment has been...

The banking sector has been seeing a significant amount of merger and acquisition activity since early 2011, including one deal that recent reports suggest has given rise to a new industry leader, in terms of banking assets. Some observers predict further merger activity and view recent capital requirement increases as being aimed at spurring...

THE COMPANY: Tullow Oil (Tullow) is an independent oil and gas exploration and production company. The company is engaged in oil and gas exploration, development and production and the sale of hydrocarbons and related activities.

With a penetration rate of 2-3%, Ghana’s insurance sector is tiny when compared on a global scale. When considered in a regional context, however, it looks more impressive – the penetration rate elsewhere in West Africa is around 1%. Legislative changes are ongoing, which is helping to foster growth, as is the slow but steady adoption of...

The banking industry is heavily dominated in terms of market share by a relatively small number of large banks, made up by a mix of state-backed and foreign-owned entities. The pack has long been led by the majority state-owned Ghana Commercial Bank (GCB), which benefits from a number of advantages that help underpin its position, though mergers and...