Kofi Ahovi

  Consolidated Bank Ghana LTD (CBG) proudly marks its five-year milestone as a market leader in Ghana's banking industry. The Bank has achieved significant milestones, including building cutting-edge technology platforms, impactful lending, and achieving leadership in SME finance. In the SME sector, CBG has played a pivotal role, providing GHS1.6 billion in loans to over 5,600 businesses, introducing innovative programs such as the 'CBG SME Adesua Series,' and optimising loan processing for swift access. The initiatives in the SME sector have earned the bank various awards including the 'Euromoney Award for SME Market Leadership' in 2022 and 2023. In the Corporate and Institutional Banking segment, CBG has participated in loans totalling GH¢2.35 billion, either as lead arranger or transaction advisor, benefiting crucial sectors like energy, tourism, and agriculture. The Bank's commitment to community impact is evident through various CSR initiatives, focusing la...

  Emirates, the world’s largest international airline, celebrates 20 years of service in Ghana. Since the inaugural flight in January 2004 at Kotoka International Airport using an A330-200 aircraft, Emirates has become a trusted transport partner that connects Ghana to the world and contributes to its vibrant economy and community. Starting with three weekly flights in 2004, Emirates now operates a daily non-stop service between Accra and Dubai. Over the past 20 years, Emirates has transported over 2 million passengers between Accra and Dubai and its extensive network, facilitates tourism and business travellers. The airline has operated close to 13,000 roundtrip flights, clocking 80.71 million kilometres during the same period. In 2018, the airline showcased its commitment with a special A380 flight for the launch of Ghana's Terminal 3. Emirates, through its Dubai hub, offers convenient connections to over 140 passenger and cargo destinations across six continents. The airline...

 In a bid to boost its production capacity, Ghana's wholly Ghanaian-owned mining giant, Adamus Resources Limited, with financial support from its parent company, Nguvu Mining Limited, has launched over a dozen Liebherr brand of haulage trucks at the company’s site at Esiama in the Ellembelle District of the Western Region. The acquisition of the haulage trucks to augment the company’s existing heavy-duty equipment forms part of Adamus Mining's expansion drive towards its planned aggressive exploration programme. Achieving this milestone which has been one of the company’s major goals, has strengthened its ground resources. The colourful event was witnessed by some prominent chiefs of the Nzema Traditional Council led by the President of the Eastern Nzema Traditional Council Awulae Amihere Kpanyinli the Third.  Also at the ceremony were the Western Regional Minister, Kwabena Okyere Darko-Mensah, the District Chief Executive of Elembelle, Kojo Bonzoe and the Chief Executive Offi...

  The Africa Prosperity Network (APN) in collaboration with the Africa Continental Free Trade Area Secretariat is set to organise the Africa Prosperity Dialogues in Ghana from January 25-27, 2024. The meeting will offer top business leaders, heads of international development institutions, and social change markers a unique platform to deliberate and proffer comprehensive policies aimed at boosting intra-Africa trade. According to the APN, the event will ensure that the continued rulebook of the colonial-era commercial arrangements is rewritten, where Africa’s resources feed the continent’s machines through actionable and bankable value-added pathways. Addressing journalists ahead of the three-day conference, Founder and Executive Chairman of Africa Prosperity Network, Gabby Asare Otchere-Darko said it’s time to invest in key sectors and prioritise trade to unlock Africa’s global potential. The idea about the single market is about what. It is about the economy, and who are the dri...

Cyber fraud, such as credit card fraud, identity fraud, or romance fraud, remains the most prevalent form of cybercrime in Ghana, the 2023 Ghana Fintech Report has revealed. According to the report, perpetrators typically create fake online profiles or websites to deceive victims into sharing their money or personal information. Significantly, it said the financial sector has become a particularly attractive target for hackers who exploit vulnerabilities in online banking systems. The Bank of Ghana’s Fraud Report for the year 2022 highlighted cyber email fraud as one of the top five fraud categories significantly impacting the banking industry. Notably, this form of fraud resulted in losses of GH4.3 million in 2022 alone, representing a 65.5% increase from the previous year. The report stressed that the nation has been grappling with a surge in cyber threats and online attacks. The statistics indicate a significant rise in various types of cyber incidents, ranging from individual-focus...

The government is expected to open negotiations with Eurobond holders and commercial creditors on Monday, January 22, 2024 in London. It will try and convince these investors to accept the terms that Finance Minister, Ken Ofori-Atta had initially proposed in 2023. Ofori-Atta disclosed this on PM EXPRESS BUSINESS EDITION with host George Wiafe which will be aired on JOYNEWS on Thursday, January 18, 2023, at 9pm. “We have had discussions with the Eurobond investors and large creditors and there is some goodwill”. the Finance Minister said. He added, “I am expecting that we negotiate in good faith to ensure the country comes back quicker than later”. The Finance Minister is hoping to build on the momentum, following the deal reached with the bilateral creditors on terms to restructure some $5.3 billion last week. Background At an initial engagement in London with the Eurobond holders and commercial creditors on October 16, 2023, the Finance Minister announced up to 40.00% cut of principal...