Kofi Ahovi

 The Ghana National Egg Campaign Secretariat (GNECS) has marked this year's World Egg Day with a float on some principal streets of Accra-Ghana with a call to Ghanaians to increase their daily egg consumption for a healthy life. GNECS National Coordinator, madam Comfort Acheampong, observed the second Friday in October was used to celebrate the World Egg Day and this year, the secretariat decided to celebrate it with the public by sharing over 3000 boiled eggs to the public. We are here to celebrate egg which is a super food. All stakeholders in the egg value chain came together to celebrate this day.” We came to [Nkrumah] Circle which is a central point for travelers across the country to celebrate the day with the public and we have distributed over 3000 boiled eggs to mark the day,” she stated. Benefits of eggs  Sharing some health benefits of eggs, the Municipal Nutritionist at Korle Klottey, Zanno Billey, said eggs helped in brain development and also helped with muscle d...

  Ecobank Ghana has to date disbursed almost US$600 million to 3.2 million Ghanaians via its micro loans product, XpressLoan on MTN Mobile Money, with some 3.99% (US$23.94 million) non-performing loans rate. Senior Banker and Digital Transformation Specialist at Ecobank, Elhanan Owureku Asare disclosed this during the FinTech Summit at the just-ended Mobile World Congress Africa 2023 in Rwanda. Ecobank Ghana, in collaboration with MTN MobileMoney Limited and Jumo set up XpressLoan about four years ago to provide affordable and collateral-free microloans to petty traders and individuals at an interest rate of 6.9% refundable in 30 days via the MTN MoMo platform. According to Owureku Asare, the scheme has so far benefitted some 3.2 million Ghanaians with average loan of about US$34.71 per person. Over time, however, some customers started defaulting on repayments by either refusing to top up their mobile wallets when repayment is due, or by simply throwing their respective SIM cards ...

 In a world where trust, reliability, and customer-centricity are the pillars of success in the banking industry, Zenith Bank stands tall as a beacon of excellence. The Bank’s recent recognition at the 2023 Global Brand Awards as the Best Corporate Governance Company and the Best Retail Bank for Customer Service is evidence of its unwavering commitment to transparency, accountability, and customer satisfaction. Exceptional Corporate Governance At the heart of Zenith Bank’s remarkable success is its governance structure. The Bank’s Board of Directors comprises of individuals with diverse skills and expertise, extensive knowledge in various fields of discipline and independence. This ensures a well-rounded approach to decision-making, safeguarding the interests of both shareholders and customers. Transparency and disclosure are also cornerstones of the Bank’s operations. Zenith Bank consistently provides clear and comprehensive information about its financial performance, risk manage...

  Vice President, Markets, at MTN Group, Eben Asante has said that for Africa to be able to bridge the yawning digital gap and also leapfrog the risks that digitalization presents, stakeholders must move away from the rhetoric and start taking decisive and purposeful actions to get the job done. He was delivering a keynote address at the just-ended Mobile World Congress Africa (MWCAfrica) 2023 at the iconic Kigali Convention Center in Rwanda. The theme for the three-day conference was Velocity: Unleashing Tomorrow’s Technology Today, and it focused on four key sub-themes of Accelerate Africa, Fintech, Healthtech and Powering Digital. What emerged prominently in all the keynote addresses and sessions over the three-day period was that there is a huge connectivity gap in Africa, and even among the few who are actually connected, just about 25% use data, which leaves a yawning usage gap due to a number of factors, mainly affordability, lack of digital skills, relevance (language barri...

 The Minister for Lands and Natural Resources, Samuel A. Jinapor, is leading a delegation of government officials and individuals from the private sector to attend the 25th China Mining Conference and Exhibition, to be held in Tianjin, China, from October 26 to 28, 2023. Since its inception in 1999, the Conference has become one of the foremost and influential mining forums across the globe. It brings together governments, investors, and other industry players to discuss and share ideas on the latest developments in the mining sector. This year, the Conference is being held under the theme “Innovation Promotes High-Quality Development of Mining.” More than 10,000 delegates and 400 exhibitors are expected to attend. Ahead of the Conference, on Tuesday, October 24, 2023, the Minister will meet with selected mining investors to pitch Ghana’s mining industry as an attractive investment destination. He will also visit the operational sites and meet with the senior leadership of some of ...

 The Greater Accra Regional Director for the Ghana Veterinary Services, Dr. Joseph Kofi Abuh, has reiterated that the payment of compensations on disease affected farms will be premised on the adherence of biosecurity on the farms. He adding that government used over GHc44m to pay compensations during the avian influenza outbreak in the country therefore the implementation of the biosecurity on the farms will help reduce the government’s expenditure. If you don’t have biosecurity on your farm and there’s an outbreak, you will not receive any compensation when your birds are destroyed” he warned.  Dr. Abuh was speaking in an interview during a network session organized by the Apex body of Women in Poultry Value Chain. The event was aimed at providing a platform for WIPVaC- Apex Ghana members to socialize and familiarize themselves with the impending implementation of the biosecurity certification in the country. He explained that his outfit is partnering with WIPVaC- Apex Ghana...

 GOIL PLC has officially commissioned five Auto Gas stations simultaneously at five specific locations nationwide at a colourful ceremony held at the Burma Camp GOIL service station, Accra, on Wednesday, October 18, 2023. The five locations include the Cape Coast By-Pass in the Central region, the GOIL Burma Camp and Kpeshie service station in the Greater Accra Region, Paco Gas station, Takoradi in the Western Region (yet to be approved by NPA), and Kentinkrono, Kumasi in the Ashanti Region. This move by GOIL is in preparation of the full implementation of the government’s cylinder recirculation module (CRM) policy, which aims to ensure that by 2030—50percent of Ghanaians have access to safe, clean and environmentally friendly liquefied petroleum gas. Speaking at the opening of the new gas stations in Accra, the Group CEO of GOIL PLC, Kwame Osei-Prempeh, said GOIL is at the forefront of meeting all the supply chain requirements set by the NPA. This commitment is demonstrated throug...

  The Abossey Okai Spare Parts Dealers have resolved to close down shops on November 1, 2023, to protest actions by the Ghana Revenue Authority which they describe as an intimidation of businesses. This latest decision follows a series of engagements with the government to withdraw customs officers and halt the tax invigilation process. According to the dealers, all efforts to get the government to listen to their plight have failed and the only option is to close down the shops for days. This decision comes as a response to the association's grievances concerning certain decisions taken to enforce tax compliance and surveillance in its sector. In a press conference held on October 2, 2023, the association expressed its dissatisfaction with the government and the Ghana Revenue Authority (GRA) for not heeding its calls to reconsider the deployment of a compliance task force to monitor tax compliance within their sector. Spokesperson for the Abossey Okai Spare Part Dealers Associatio...

  The much-awaited launch of the 2023 All-New Mitsubishi Outlander, took place at the Mitsubishi Ghana Showroom within CFAO Ghana PLC, the leading multi-brand automobile brand distributor. The 2023 Mitsubishi Outlander is a visually stunning and imposing take on a modern SUV. The new reimagined look pushes the bounds of everything you expect in an SUV. The iconic design has been enhanced with substantial proportions, sculpted sides, distinctive rear design, a wide stance, and a stunning, powerful ride that exudes confidence in every square inch. The Mitsubishi Ghana showroom was transformed into a ritzy space to welcome invited guests and customers. A Mitsubishi red carpet photo treatment was given to invited guests as they strutted majestically into the showroom. Guests were treated to captivating entertainment with a surprise guest artiste called Offei Music, who held the audience captive with his stimulating story telling musical style. In his welcome statement to invited guests...

  Latest report from the Public Interest Accountability Committee’s (PIAC) 2023 semi-annual report has shown that Ghana made a total $540 million in revenue from January to June 2023. According to PIAC, under the Annual Budget Funding Amount for 2023-2025, over $466 million out of $540 million of the petroleum revenues were allocated to priority areas including agriculture, roads , critical infrastructure development as well as physical infrastructure and service delivery in education and health. The report also showed that over ¢247 million was allocated to agriculture including fisheries representing 12.24 percent Physical infrastructure and Service in education and Health as well as industrialization had ₵35 million and ¢2 million respectively representing 1.79% 0.12%”. Meanwhile, Roads, Rail and other critical infrastructure had the highest, with over ¢1.0 billion, representing 85.74%. The report furthered that, an amount of¢131,005,360.91 representing 6.47% of the Annual Budge...

 The Finance Minister, Ken Ofori-Atta, is optimistic that the board of the International Monetary Fund (IMF) would approve the second tranche of the country’s deal with the Fund. Speaking on the business edition of  JoyNews’ PM Express , the Minister said he has engaged external creditors who have, in turn, given him positive assurances about the fate of Ghana’s debt restructuring programme in the coming weeks. It is on the back of these, that Mr Ofori-Atta remains hopeful that the country would successfully get the Fund’s Board to approve the second tranche of its financial support. The IMF Board is expected to meet in November 2023, to consider the second tranche of $600 million for Ghana as part of the Fund-support programme. “My deep sense is that we will get whatever is appropriate for the Fund Board to be able to make their decision in November. I am confident about it. And yes, we did meet with the officials from Paris Club and there was pretty positive assurance. I als...

  The Governor of the Bank of Ghana, Dr Ernest Addison has asked the International Monetary Fund (IMF) to adapt its lending toolkits in line with the changing global conditions. He said given the fragmented global financial architecture, the IMF had to remain steadfast and adapt its lending toolkits to serve its vulnerable members better.  Speaking on behalf of his fellow African central bank governors at the World Bank/ IMF Meetings, he called for increased concessional financing by aligning its Poverty Reduction and Growth Trust access thresholds with those of the General Resources Account (GRA) to ensure uniformity of treatment.  “In addition, we call on the Fund to relax the PRGT eligibility criteria to foster access to adequate Fund support while reducing, suspending, or eliminating entirely surcharges for most vulnerable PRGT-eligible members facing acute debt challenges.  We also reiterate our call for additional pledges from willing donors to close the gaps i...

  The Prudential Bank Limited (PBL) has donated of GH¢20,000 and a set of branded items to the Lifeline for Childhood Cancer Ghana, the foundation partner of the Korle Bu Pediatric Oncology Unit. Lifeline for Childhood Cancer Ghana raises funds for the treatment, care and cure of children with cancer and seeks to make childhood cancer a national health priority. Presenting the items on behalf of the PBL, Ruth Baafi of the Marketing and Corporate Affairs Department of the bank said the donation was to support the activities of the unit. Commitment She underscored the bank's continuing commitment to contributing to commendable causes that benefit the broader community. Receiving the items, the Executive Director and co-founder of the Lifeline for Childhood Cancer Foundation, Akua Sarpong, expressed her profound gratitude to the PBL for the support. She said significant number of patients at the centre came from underprivileged backgrounds, hence the need to support them to access qua...

  Ecobank Ghana, has announced Ms. Joana Mensah as the acting Managing Director. She replaces Dan Sackey, who headed the bank from 2016 to August 15, 2023, when he officially retired. Joana Mensah is expected to remain in this role until a substantive person is named later. The bank is yet to announce the timeline for the appointment of a substantive MD. Until this appointment, Mensah was the Country Chief Risk Officer of Ecobank Ghana, responsible for managing the enterprise-wide risk functions across the bank since May 2019. In this capacity, she had direct supervision of credit risk, market risk, operational risk as well as Environmental Social and Governance, and worked through the Management Risk Committee to cover other risk areas. Her career with Ecobank Ghana started in August 1993, when she joined the bank as a Financial Analyst with the Corporate Banking Department. SME portfolio She subsequently served as a Relationship Manager in charge of the SME Portfolio and was even...

  Over nine million working Ghanaians have no form pensions, the Head of Corporate Affairs, National Pensions Regulatory Authority, Nana Sifa Twum, has disclosed. He said most of these people were in the informal sector, adding that between the next five to 10 years, a lot of people would retire into poverty if that was not checked. Speaking to the media at the launch of “Pension Sunday”, he said the country was struggling to rope in the informal sector onto the pension scheme because the scheme was set up on the wrong premise, with the notion that pension was for only formal sector workers. He, therefore, urged all stakeholders in the industry to intensify their public education advocacy for workers in the informal sector to understand that they could also benefit from the pension scheme. Pension Sunday   The ‘Pension Sunday’ was launched by the NPRA in collaboration with the Presbyterian Church of Ghana to jointly educate and sensitise church members in a bid to improve pens...

  On the fateful morning of September 16, 2005, Zenith Bank Ghana embarked on its banking journey with a grand total of 45 staff members. This marked a transformative turning point in the banking and financial services landscape of the country. Zenith Bank swiftly surged ahead of the competition, fueled by a potent combination of determination, innovation, customer-centricity, and forward-thinking. It altered the course of banking and financial services delivery in Ghana, leaving an indelible mark for years to come. Fast forward to today, the Bank that revolutionised banking in Ghana has celebrated a significant milestone in its journey – 18 years of financial excellence in Ghana. Zenith Bank’s banking approach over the years has been built on the bedrock of People, Technology, Service. The People Behind the Success At the helm of Zenith Bank, a visionary leadership team has skillfully steered the institution toward a trajectory of growth and sustainability. Their strategic prowess...

  The National Petroleum Authority (NPA) has sanctioned seven Petroleum Products Marketing Companies (PPMCs) for illicit distribution of petroleum products. They are to pay fines for violating of Unified Petroleum Pricing Fund (UPPF) regulations, making false UPPF representations to the Authority, and engaging in third-party supplies. Failure by the affected companies to pay the fines will lead to a three-month suspension of their operations. In the case of Andev Co. Ltd, it will pay a total fine of GHS90,000.00. This comprises GHS10,000.00 for violating UPPF regulations and GHS10,000.00 each for eight (8) counts of making false UPPF representations to the Authority. Beap Energy is to pay a total fine of GHS20,000.00, comprising GHS10,000.00 for violating UPPF regulations and GHS5,000.00 each for two (2) counts of third-party supplies. For BF Petroleum, the company will pay a total fine of GHS95,000.00. This constitutes GHS10,000.00 for violating UPPF regulations, GHS5,000.00 each ...

 The erection of unauthorized structures on Newmont Gold Ghana Limited’s mining area is stalling expansion works of its Tailings Storage Facility (TSF) Project. Engulfed by the hushed and greenery scenery at Dokyikrom, in the Asutifi North in the Ahafo region, sits hundreds of the speculative structures made from metallic roofing sheets. The illegal structures numbering over 300 however do not serve as a home or sleeping place for their owners but an abode for weeds sprouting from the ground. As these speculative structures continue to spring up, their owners anticipate huge compensations, a practice that actors in the mining industry are displeased with. Speaking with Journalists for Business Advocacy (JBA) who visited the community to witness first-hand the level of speculative structures being erected, the Director of External Relations and Communication of the Ghana Chamber of Mines, Ahmed Nantogmah, bemoaned that speculative activities are bad for the mining industry, add...

 The International Monetary Fund (IMF) says it is waiting for the outcome of Ghana’s engagement with its bilateral creditors before releasing the next tranche of the $3 billion bailout package. This was disclosed by the IMF Managing Director, Kristalina Georgieva, in a tweet on Wednesday after meeting Ghanaian officials to discuss the way forward. Ghana recently reached a staff-level agreement with the IMF following a review of the country’s economic progress after the first tranche of $600 million was disbursed. Georgieva congratulated Ghana on securing the staff-level agreement. In a tweet, she said “Great to meet @MoF_Ghana Min Ofori-Atta & @thebankofghana Gov Addison at #IMFMeetings. Congrats on the recent staff-level agreement on the Fund-supported program’s first review. Counting on bilateral creditors reaching agreement on debt relief soon to move the review forward.” The IMF and Ghana reached a staff-level agreement on October 6 on economic policies and reforms to concl...

 Ghana’s inflation rate fell to 38.1% in September 2023, from 40.1% in August, according to the Ghana Statistical Service (GSS). The GSS said the decline in inflation was due to a decrease in the prices of food and non-food items. Food inflation fell from 51.9% in August to 49.4% in September, while non-food inflation fell from 30.9% to 29.3%. The Government Statistician, Prof. Samuel Kobina Annim, said the decline in inflation was a positive development. The decline in inflation is good news for consumers and businesses in Ghana. It means that the prices of goods and services are rising at a slower pace, which will help to improve purchasing power and boost economic activity.

  The Office of the Special Prosecutor (OSP) and the Federal Bureau of Investigation (FBI) in the United States of America have initiated concurrent investigations into the activities of former Sanitation Minister, Cecilia Abena Dapaah and her associates. The OSP in a post on ‘X’ formerly Twitter on Wednesday indicated that “These investigations primarily focus on examining their assets and financial transactions within the United States of America.” According to the OSP, the collaborative effort is to ascertain the lawfulness of Ms Dapaah and her associates’ wealth, “both in the context of their funds transitioning from Ghana to the United States and vice versa.” Dapaah came into the limelight in July when it emerged that two of her house helps were before an Accra Circuit Court, for allegedly stealing monies and items running into millions of Ghana Cedis. She subsequently resigned from her position on July 22, 2023, after intense calls from the public. Meanwhile, the former Sanit...