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Banking & Finance

Zen Petroleum Completes IPO,Raises GHS 640,000,000 from Investors

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Zen Petroleum Holdings PLC has announced a successful completion of its Initial Public Offering (IPO) ahead of the company’s upcoming listing on the Ghana Stock Exchange on Wednesday,April 22,2026. In a statement released today,April 20,2026,the indigenous Oil Marketing Company declared that it was able to raise GHS 640,000,000 representing 20% of its issued share capital following the closure of its offer window on March 31,2026. The OMC also added that the company saw an over subscription of its bids valued at GHS 970,244,645 by 94% with institutional investors accounting for 99.3% of this figure. Commenting on the upcoming listing, management of ZEN Petroleum stated: “Our upcoming listing is a defining moment for ZEN Petroleum and a testament to the trust our investors have placed in us. From our beginnings in 2010, we have built the business with a clear focus on quality, discipline and long-term value creation. As a publicly listed company, we are committed to upholding the highest standards of governance and delivering sustainable value for our shareholders while contributing meaningfully to Ghana’s energy sector and capital markets.” According to the company, the listing will not only provide ZEN Petroleum with enhanced access to long-term capital but also further strengthen its governance framework, and increase its visibility within Ghana’s capital markets. The listing marks a defining chapter in ZEN Petroleum’s journey from its establishment in 2010 as a wholly indigenous Ghanaian enterprise to one of the leading players in Ghana’s downstream petroleum sector.Over its fifteen-year history, the company has built a fully integrated business spanning trading, storage, distribution, retail, logistics, and bunkering operations. It currently employs approximately 1,500 people as at 2025 and serves customers across Ghana’s mining, commercial and retail sectors. The Company is also set to become the third Oil and Marketing Company to be listed on the Stock Market after GOIL PLC and TotalEnergies Marketing Ghana PLC.

Banking & Finance

Bank of Ghana Clarifies Treatment of Earnings for Content Creators

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  The Bank of Ghana (BoG) has moved to address growing concerns among Ghanaian digital creators over the difficulties they face in accessing their earnings from online social media platforms,particularly X clarifying that such payments are legally permissible under the country’s foreign exchange regulations. In a statement issued on Monday,April 20,2026, the BoG prompted that that although it currently doesn’t know the direct cause of the delay ,it is actively engaging with the relevant stakeholders to identify the cause and ensure a prompt response to the issue. “The Bank appreciates the feedback received from affected persons. BoG is actively reviewing the matter and engaging with relevant institutions to identify the source of the issues and ensure prompt resolution,” the statement read. The statement follows a wave of complaints from Ghanaian creators,particularly on X who have not being unable to receive or access their earnings for 2 straight cycles which has fuelled speculation on social media attributing the delay to the BOG. According to the Bank , creators should receive their earnings through Foreign Exchange Accounts (FEA) held with licensed banks in Ghana, or directly into Ghana Cedi accounts, provided all transactions are processed in accordance with applicable regulatory requirements-appearing to suggest that the source of the problem may lie with intermediary institutions rather than BoG policy. The Bank of Ghana then went ahead to assure affected stakeholders that it remains committed to maintaining a stable and enabling financial system that supports legitimate cross-border transactions, including digital platform earnings, adding that engagement with affected parties will continue throughout the review process.    

Banking & Finance

Ghanaians to Own Shares in MobileMoney Fintech Ltd as GSE Listing Planned Within 3–5 Years

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The CEO of MobileMoney Fintech LTD,Shaibu Haruna has announced the Fintech Company is expected to list on the Ghanaian Stock Exchange within the next three to five years. Engaging with the media on Monday April 21,2026, the CEO explained that the move aims at giving Ghanaians the opportunity to own shares in new Fintech company and also share in the company’s growth and profitability “Beyond that is also the layer of, you know, we’ve promised our shop that in the next three to five years, we will be able to list the Mobile Money business on the local exchange.” He stated. The CEO also addressed the recent blocking of approximately 9,738 MoMo agent SIM cards, clarifying that the action forms is nothing new and forms part of the company’s routine operations. He noted that the matter had drawn public attention primarily due to the scale of the numbers involved. According to the CEO, the blocking is a deliberate measure aimed at combating customer fraud while also disclosing that he is scheduled to meet with some agent associations later in the day to discuss the situation and work toward an amicable resolution. “We had to take some immediate action and do further investigations, which we’ve done.We are engaging them. In fact, this afternoon we have some engagement with some of the agentassociations.These are things that we do. It’s part of our routine activity. This happened to be a little bit large scale. That’s why, you know, it’s been picked up. But it’s an ongoing activity that we… So there were some suspicious activity that we needed to understand. But for us, the primary focus would be to first stop it and then deal with it, investigate it and deal with the issues.”he added This comes as part of company’s deliberate strategy to deepen public participation in the growing mobile money sector since its structural separation from MTN Ghana establishing it as a standalone entity.

Banking & Finance

NTHC Securities Relocates Office to Martco House, Adabraka

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The NTHC Securities has announced the relocation of its offices to a new address in Accra, informing the investing public and key stakeholders of the change. The company which was previously located at the Ringway Estate opposite the British High Commission has now moved to the Martco House in Adabraka. This was announced in a statement issued today and is being to be addressed to all Licensed Dealing Members, the Securities and Exchange Commission, the Central Securities Depository, custodians, registrars, and the general investing public. Members of the public and investors who transact business with NTHC Securities are advised to take note of the new address for all future correspondence and visits. The NTHC Securities is a subsidiary of the National Trust Holding Company (NTHC) group which specializes in stock brokerage, investment advisory, and capital market transactions. Established in 2003, it happens to be one of the oldest and most experienced market players on the Ghana Stock Exchange.

Banking & Finance

MobileMoney Fintech LTD Tightens Agent Network Compliance in Bid to Protect Customers

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The MobileMoney Fintech LTD has announced a series of regulatory compliance measures targeting its MoMo Agent platform, as the company conducts routine checks to bolster platform security and meet applicable regulatory standards. In a media release by the company on Thursday, April 16,2026 the company announced that accounts of certain agent have been put under temporary restrictions as part of the verification exercise. The company added that the restrictions will take forms with agents found to have committed minor infractions receiving warnings, those with moderate breaches facing temporary account suspension, while agents involved in serious violations will have their accounts permanently terminated. The FinTech company disclosed that it has already engaged affected agents and, where appropriate, lifted restrictions on accounts while investigations continue. The company added that these measures are being put in place to ensure that its customers are protected and preserve trust across the agent network. “MobileMoney Fintech LTD will continue to engage agents and relevant stakeholders to promote a strong, reliable, and sustainable MoMo ecosystem,” the company said in the release. MobileMoney Fintech LTD urged all agents to operate strictly within approved guidelines and comply with applicable regulatory requirements reaffirming its broader mission of advancing Ghana’s digital economy.

Banking & Finance

CalBank PLC Posts Strong Q1 2026 Results, Net Profit Nearly Triples

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CalBank PLC has reported a strong financial performance for the first quarter of 2026, with net profit nearly tripling year-on-year as core income lines surged and key prudential metrics recovered sharply. Income Growth Drives Profitability Net interest income more than doubled to GHS 171.1 million (Group) from GHS 86.3 million in the same period last year, reflecting higher interest income and a marked reduction in interest expense ,a signal of improved funding efficiency across the bank’s operations. Total revenue climbed to GHS 326.7 million, representing a year-on-year increase of over 110%, buoyed by robust net trading income of GHS 89.3 million and solid growth in net fees and commissions, which stood at GHS 66.3 million. Bottom Line Surges Profit before tax reached GHS 163.8 million, translating into a net profit of GHS 106.8 million nearly three times the figure recorded in Q1 2025. Prudential Metrics Rebound CalBank’s balance sheet health showed a dramatic improvement in the quarter with Capital adequacy recovering from a territory in 2025 to 17.2% while its liquidity ratio stood at a healthy 90.7%. The bank’s non-performing loan (NPL) ratio also fell sharply to 15.1%, down from 45.5%,a significant indication of improved credit quality and loan recovery efforts. Total assets grew to GHS 13.4 billion with Customer deposits rising to GHS 10.3 billion, pointing to renewed depositor confidence and a more stable funding base for the bank going forward.

Banking & Finance

GhIPSS Bolsters Executive Leadership with Four Strategic Appointments

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The Ghana Interbank Payment and Settlement Systems Limited (GhIPSS) has announced the appointment of four senior executives to its leadership team, in a move aimed at strengthening its capacity to deliver on its mandate as Ghana’s national payments infrastructure provider. In a statement released on Monday,April 13,2026,GhIPSS highlighted that the appointments spans the Finance, Business, Operations, and Shared Services portfolios will bring together decades of combined experiences in financial services and digital payments to the GhIPSS executive management table. The statement added that Eunice Amewu Nyadu (FCCA, UK) is expected to take up the Chief Finance Officer role and will have oversight responsibility for Finance and Strategy. Having previously served as the organisation’s first Head of Finance, Nyadu’s expertise spans financial engineering, corporate governance, capital structuring, and strategic transformation.In her new role, she will be driving GhIPSS’ financial and strategic transformation agenda, with a focus on investment, innovation, and ecosystem expansion across banks, fintechs, digital financial services providers, and emerging players. Akosua Blay who also previously served as the Acting General Manager for Project and Business Development at the organization will now occupy the Chief Business Officer position where she is expected to bring on board her 30 years of professional experience to her new role. She is a professional member of the Chartered Institute of Bankers, Ghana. Juliet Ackah-Nyamike will also take on the role of Chief Operations Officer, with oversight responsibility for the Operations Department and will bring on board over two decades of leadership experience in digital payments, transactional banking, and card systems operations, with strong expertise in payment operations, settlement management, and digital banking service delivery. Mary Dei Sarpong has been appointed Chief Shared Services Officer to lead the Shared Services portfolio. Previously the Head of the Partnerships and Bulk Payments Unit, she brings over two decades of experience in the financial services industry, having played instrumental roles in advancing bulk payments, clearing operations, customer support, and financial inclusion initiatives through e-zwich. In her new role, she will oversee administration and facilities management. Commenting on the appointments, GhIPSS Chief Executive Clara Arthur described the move as a deliberate effort to strengthen the company’s leadership architecture ahead of its next phase of growth. “I am happy to welcome Eunice, Akosua, Juliet and Mary to the GhIPSS Executive Management Team. Their appointments reflect a deliberate step towards strengthening our leadership structure to enable us achieve our strategic priorities and position GhIPSS for the next phase of the company’s growth. I am optimistic that, with their support, we will continue to drive innovation, enhance operational excellence, and deliver greater value to our stakeholders,” she said. GhIPSS continues to serve as the backbone of Ghana’s digital payments ecosystem, providing interoperable payment infrastructure that enables seamless transactions across banks, mobile money operators, and other financial service providers.

Banking & Finance

UBA Ghana Appoints Juliana Asare as Chief Finance Officer

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The United Bank for Africa (UBA) Ghana has appointed Juliana Asare as its Chief Finance Officer (CFO), making her the first woman to hold the position in the bank’s history in Ghana. Asare who previously served as CFO of UBA Sierra Leone, brings over two decades of progressive banking experience spanning Ghana and Sierra Leone to the role with her professional credentials include Fellowship of the Association of Chartered Certified Accountants (FCCA), membership of the Institute of Chartered Accountants of both Ghana and Sierra Leone, and certification as a Treasury Operations professional (ACI). Juliana Asare holds a First-Class Honours degree in Psychology from the University of Ghana and an MBA in Finance from the Ghana Institute of Management and Public Administration (GIMPA). She is also a certified Green and Sustainable Finance professional. Under her watch, UBA Sierra Leone ranked consistently among the top performers within the UBA Group, recording timely audit completions and strong financial discipline. Her influence extends beyond the bank as she also served as President of the Accounting and Finance Standing Committee of the Sierra Leone Association of Commercial Banks (SLACB) and represented the industry on the Bank of Sierra Leone’s Accounting and Realignment Technical Committee, which oversaw the country’s currency redenomination exercise. As CFO of UBA Ghana, she is expected to champion financial excellence and strategic transformation as the bank reinforces its position as a leading pan-African financial institution.

Banking & Finance

Ghana’s Finance Minister Urges ECOWAS States to Clear US$256m EBID Capital Arrears as Deadline Passes

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Ghana’s Minister of Finance, Dr. Cassiel Ato Forson, has called on all ECOWAS Member States to honor their outstanding capital subscription obligations to the ECOWAS Bank for Investment and Development (EBID), warning that arrears of approximately US$256 million remain unpaid beyond an agreed December 2025 deadline. Dr. Forson made the appeal during the 24th Ordinary Session of the Board of Governors of EBID, held in Accra, where he disclosed that only four of the bloc’s fifteen member states namely Ghana, Côte d’Ivoire, Guinea, and Togo have fully met their obligations under the third tranche of subscriptions amounting to US$411.4 million. The tranche forms part of a broader agreement to raise EBID’s authorised capital from its previous level to US$3.4 billion. “At that session, it was agreed that EBID’s authorised capital should increase to US$3.4 billion. At that same meeting, a call for the third tranche of subscriptions amounting to US$411.4 million was agreed. The agreed deadline for full payment was December 2025. Yet, to date, only four Member States, namely Ghana, Côte d’Ivoire, Guinea, and Togo, have fully met their obligations. While US$102.5 million was received in 2025, outstanding arrears still stand at approximately US$256 million. In light of the missed December 2025 deadline, I urge all Member States to act with renewed commitment in fulfilling their obligations to the Bank,” he stated. The Finance Minister stressed that timely capital contributions are not only essential to reaching the bank’s target capitalisation but also to sustaining EBID’s capacity to finance large-scale development initiatives across the region. “Timely capital payments are critical. It strengthens EBID’s leverage and sustains its growth and impact across our region. Expanding our capital base is essential to strengthening our ability to finance transformative development projects and stimulate inclusive economic growth in all Member States,” he said. Dr. Forson also expressed gratitude to the bank for Ghana’s privilege of serving as Chair of the Board of Governors over the past year, commending EBID President Dr. George Agyekum Donkor and his team for their stewardship during a period of notable institutional growth. Under his tenure as Chair, EBID recorded a balance sheet expansion from US$1.97 billion in 2024 to US$2.39 billion by end-2025, a 13.3 percent increase in profit from US$8.55 million to US$9.75 million, and an 83 percent surge in commitments.​​​​​​​​​​​​​​​​

Banking & Finance

GCB Bank MD: No-Dividend Decision Tied to BoG’s DDEP Reclassification, Not Financial Health

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The Managing Director of GCB Bank PLC,Farihan Alhassan has explained that the bank is currently not paying dividend despite strong financial performance in the 2024 Financial year as a result of the Bank of Ghana’s reclassification of some investment the bank during the Domestic Debt Exchange Program(DDEP). In an interview on Channel One TV’s Point of View on Wednesday, April 1,2026, the MD clarified that the banks inability to pay dividend has nothing to do with its financial health as others may suggest. “It’s true, but I just need to clarify that our inability to pay dividends has nothing to do with the financial health of the institution.It has a lot more to do with a constraint that we are facing with some other banks, as a result of Bank of Ghana’s reclassification of some investment that we did” he stated He futher explained the reclassification of bonds as part of Single Obligor Limit (SOL) after the DDEP by the BoG though not initially part was what led to the bank’s inability to pay dividend in accordance with the banking act. “So, it’s in the banking act that when you exceed your SOL on certain transactions, you cannot pay dividends.The reclassification of this happened after DDP. So in the past, it was not considered as under the SOL.Then after we have reclassified them from the BOG perspective, it’s now subject to SOL. So that is actually the reason.Now, they are now considering the bond under the SOL classification.” He explained Farihan Alhassan however assured shareholders that the bank is in talks with the BoG with regards to the situation and once the green light,the bank is ever willing to pay dividends its shareholders. “We don’t want to raise expectations. Like I said, they are pushed as one of collaboration. We are engaging.We are having meetings around it. If they tell us to pay today, the bank is in a very good position to pay, as you can see from our financial numbers. So I appreciate the disappointments that our shareholders have.” He added His comments follows the bank’s inability to pay out dividends to its shareholders despite recording historic figures including a net profit of GHS 2.04 billion, gross profit of GHS 3.2 billion and a healthy operating income of GHS 6 billion in the 2024 financial year.