Kofi Ahovi

 Donewell Life   Assurance  has rebranded to “Pinnacle Life Insurance” to provide superior life   insurance policies and exceptional customer experiences.  At the official unveiling ceremony held in Accra, Board Chairman Michael Mba Allan emphasized that the transformation reflects a shift toward enhanced digital service offerings designed to improve client satisfaction.  At Pinnacle Life, we are committed to improving insurance penetration in Ghana and promoting financial inclusion. We aim to bring security, peace of mind, and prosperity right to the fingertips of every Ghanaian," Allan stated. "But Pinnacle Life is more than just a brand; it is a community—a family dedicated to our clients’ well-being, happiness, and financial stability,” he added.  Eric Ato Botchwey, Managing Director of Pinnacle Life Insurance, outlined the company’s goal of making life insurance accessible to all Ghanaians.  What we aim to achieve is to demystify t...

 The insurance penetration rate in Ghana will hover around 1.0% in 2024, Deloitte has revealed in its Africa Insurance Outlook 2024. However, insurance penetration remains relatively untapped. Apart from South Africa, where the insurance penetration rate is at 11.54%, the leading professional services firm said the rest of the African continent remains relatively untapped”, it said. Africa has been attracting several innovative start-up insurance companies aiming to bridge the insurance gap. These start-ups have leveraged mobile technologies to provide microinsurance solutions to underserved and previously unreachable customers. They offer affordable, sometimes instant, and accessible insurance coverage, including life, health, and crop insurance, reaching millions of previously uninsured individuals. Examples of start-ups include Turaco, a Kenyan insurtech, with additional operations in Uganda and Nigeria. Similarly, BIMA, a micro-insurance company servicing low-income customers i...

  Tullow and the Ghana Forestry Commission have completed all requirements to commence full-scale implementation of a joint nature-based carbon offset project, launched earlier this year. The Forestry Commission, supported by Tullow, will now engage stakeholders at both national and regional levels to finalise project details. Key activities will include a comprehensive environmental and social impact assessment, as well as capacity-building programmes to promote sustainable forest management. The project, which supports Ghana’s Reduced Emissions from Deforestation and Forest Degradation (REDD+) Strategy, will conserve and restore approximately two million hectares of land in the Bono and Bono East regions and is designed to generate up to 1 million tonnes of certified carbon offsets annually. The initiative is critical to Tullow’s overall net zero strategy and the carbon offsets generated from the project (developed under leading certification standards) will be used to mitigate h...

  Development Bank Ghana (DBG) has signed a Memorandum of Understanding (MoU) with the Association of Ghana Industries (AGI) as part of its mandate to accelerate the growth of key sectors of Ghana’s economy. The collaboration aims to strengthen the textiles and garments industry by supporting local businesses to scale production, improve competitiveness, and create jobs. As part of the MoU, DBG will partner with AGI to implement a three-year initiative that provides technical support, financial resources, and market development assistance to selected textile, garment, and fintech companies. The initiative will help address key industry challenges, such as high production costs, limited skilled labour and access to long-term financing. DBG’s support for the textiles and garments industry aligns with our strategic focus on manufacturing as a priority sector for development," said K. Duker, CEO of DBG. "This collaboration with AGI provides an opportunity to support the sector’s ...

  Ghana has ranked 5th on the latest Africa Visa Openness Index (AVOI). According to the document released by the African Union Commission in partnership with the African Development Bank (AfDB), visa openness refers to the ease with which travelers can obtain authorization to travel to and enter a country, subject to final determination by the destination country’s immigration officials. The more visa-open a country, the easier it is for a traveller to visit that country” the report indicated. However, there are different degrees of visa openness. A more visa-open country on the index Implies that the country in question has a generally more liberal or relaxed visa policy for visitors, meaning that visitors either do not need a visa to enter. Also its territory, or can obtain a visa upon arrival as opposed to a visa-restrictive country requires visitors to obtain a visa before they travel. In such instances, visitors may be required to obtain a visa from an embassy, a consulate, o...

 Mission 2025, a coalition of diverse voices advocating for robust climate action, has highlighted the critical need for G20 countries to ramp up climate financing, with a focus on empowering vulnerable regions like Africa. Speaking for Africa's youth and Indigenous populations, Joshua Amponsem, co-founder of the Green Africa Youth Organization and co-director of the Youth Climate Justice Fund, delivered an impassioned plea for climate finance. He underscored the dire consequences of inaction. "The 1.5-degree target isn't just a number for us; it's the difference between survival and irreversible catastrophe," Amponsem declared at a press conference, emphasizing that without adequate climate finance, such targets remain hollow promises. At COP29 in Baku, Azerbaijan, the urgency of climate finance and justice took center stage as global leaders grappled with the demands of developing nations. For Africa, where millions already face the daily realities of climate ch...

  Kwame Awuah-Darko, a leading member of the National Democratic Congress (NDC), has suggested that funds allocated to the National Builders’ Corps (NABCO) programme could have been more effectively invested in the agricultural sector, specifically in large-scale rice production, to create sustainable employment opportunities for Ghanaian youth. Awuah-Darko pointed out that since its inception, NABCO has benefitted over 100,000 people, each receiving a monthly allowance of GHC 700. Over three years, this has cost the government approximately GHC 2.5 billion. He argued that redirecting these resources toward land acquisition and supporting young people in rice cultivation could have generated long-term employment and reduced Ghana’s reliance on rice imports. Launched to address graduate unemployment, NABCO faced significant challenges, including delayed payment of allowances, raising concerns about its sustainability and effectiveness. In an interview with Channel One News, Awuah-Da...

 The Ministry of Energy has assured the public that all challenges delaying the full implementation of the Cylinder Recirculation Model (CRM) are being addressed with input from key stakeholders. According to the sector minister, Herbert Krapa, the CRM is set to be effectively rolled out in 2025. The CRM is a distribution system where consumers exchange their empty LPG cylinders for filled ones at designated vending points. The empty cylinders are then transported to bottling plants, refilled, and made available for other consumers. Speaking during a media interview at the 2024 Women in Energy Outreach Programme, Krapa expressed optimism that by 2030, 50 percent of Ghanaians will have access to and use LPG as a primary energy source. The recirculation model is going well. We have had some initial concerns from stakeholders. We have broadened and deepened the stakeholder consultation. We expect that starting from next year, we will see a more aggressive rollout of the model. “2030, ...

 Dr. Humphrey Ayim-Darke, President of AGI, has praised local businesses for their unwavering commitment to productivity despite the many challenges. He said businesses had to deal with global and local uncertainties of supply chain disruptions, foreign exchange fluctuations and rising energy costs. “Businesses across Ghana have had to rethink strategies, adapt processes and reinvent ways of working. These uncertainties have undoubtedly tested our resilience and determination,” he said at the AGI Awards in Accra. He said AGI was working with stakeholders to promote policies that favour local production and procurement. On his part, Minister of Finance Dr. Mohammed Amin Adam said the economy had performed well in the first half of 2024, with significant contributions from the industrial and manufacturing sectors. However, he said more work needed to be done to sustain the recent significant recovery. Ghana’s economy grew 5.8% in the first six months of 2024, pointing to a stronger-t...

  The Bank of Ghana (BoG) has officially introduced the Ghana Gold Coin (GGC) as a new financial instrument to diversify investment options for the public. As of November 26, 2024, the coins are available in three denominations: 1.00 oz, 0.50 oz, and 0.25 oz. Their prices are set at GH₵45,020.48, GH₵22,409.74, and GH₵11,188.12, respectively. The pricing is based on the previous day’s London Bullion Market Association (LBMA) PM gold price, which stood at $2,635.40, and the Bloomberg USD to GHS exchange rate of 15.7500. The BoG aims to offer the public an innovative investment avenue while bolstering the country’s financial instruments portfolio. As part of the domestic gold programme, this initiative seeks to absorb excess liquidity in the market and strengthen the local currency against major trading currencies. This strategic move aligns with the Bank of Ghana’s efforts to stabilise the economy and promote investment in Ghana’s gold reserve.

 Africa World Airlines (AWA) has reaffirmed its unwavering commitment to maintaining the highest safety standards in the aviation space. To this end the company embarked on a series of events designed to enhance safety awareness which was climaxed with a Foreign Object Debris (FOD) walk. Speaking on the sidelines of the  Foreign Object Debris walk at the the Kotoka International Airport, the Andrew Daniel Asante – Amankwah  Head of Safety at Africa World Airlines maintained that ensuring the well-being of passengers, crew and staff remains paramount to its operations. Today’s activity is a joint FOD walk where FOD means foreign object degree and an FOD is a hazard to aviation operations. Every operational activity happens in an ecosystem so if you don’t take care of your ecosystem your operations can’t happen,” he explained Citing a tragic aviation disaster that took place on July 25, 2000, Asante – Amankwah emphasized the need to ensure such incident doesn’t happen: “We ...

  Fitch Ratings Agency has predicted that Ghana will face significant liquidity pressures going into 2025 and 2026, despite restructuring most of its debt. The UK-based credit rating agency highlighted that Ghana’s interest-to-revenue ratio will remain among the highest in its rated sovereign portfolio. Estimates indicate the ratio will reach 29% in 2025 and 30% in 2026, nearly double the average of 16% for emerging markets. Calling for Drastic Fiscal Measures, Thomas Garreau, Associate Director for Europe, Middle East, and Africa Sovereign Ratings at Fitch, stressed the need for aggressive fiscal reforms to address Ghana’s economic challenges. We still anticipate significant liquidity pressures for Ghana,” Garreau stated. “The country’s interest-to-revenue ratio remains exceptionally high at approximately 30%, which is nearly double the emerging market average. This underscores the need for drastic measures to stabilize the fiscal economy.” Despite these challenges, Garreau acknow...

  MTN Ghana has partnered with MobileMoney Ltd and Access Bank Ghana PLC to offer device financing for MTN customers. This new service, called "MTN Pick and Pay Later," allows customers to select a smartphone, make an initial payment, and pay off the remaining balance in instalments over either 4 or 6 months through MoMo. The smartphone options available to customers will be determined by their creditworthiness, which is assessed through a credit scoring engine on the MTN network. To access this service, customers can dial *170#, select Financial Services, and then choose "Device Pick and Pay Later" under the Loans section.   Noel Kojo-Ganson, the Chief Commercial Officer for MTN Noel Kojo-Ganson, the Chief Commercial Officer for MTN, emphasized the company's belief that everyone deserves the benefit of a modern, connected life, including having a good smartphone for high-speed internet services. He noted that this initiative is intended to help customers who wa...

  The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has called on commercial banks to address the underlying vulnerabilities that threaten the overall stability of the banking sector. According to him, these challenges are largely structural and require a comprehensive approach. Speaking at the 28th National Banking and Ethics Conference, on Thursday, November 21, organized by the Chartered Institute of Bankers, Ghana, Dr. Addison revealed that the Central Bank is integrating business model analysis into its regulatory framework. This strategy is aimed at identifying and addressing potential risks that could undermine the sector’s soundness and long-term sustainability. The Governor also underscored the importance of responsible banking practices grounded in strong ethical standards, urging the industry to prioritize integrity and accountability in all operations. Weaknesses leading to the collapse of banks are not overnight. Unviable and unsustainable business models an...

  The Board of the International Monetary Fund (IMF) is set to meet in early December to review and potentially approve a $360 million disbursement to Ghana. Tourism packages If approved, this payment will bring Ghana’s total disbursements under the IMF’s $3 billion Extended Credit Facility to $1.92 billion. The upcoming decision follows a two-week assessment of Ghana’s fiscal data, which culminated in a staff-level agreement between the IMF and Ghana on October 4, during the third review of the program. IMF Director of Communications, Julie Kozack, announced the update at a press briefing in Washington, D.C. on November 21. Tourism packages Once the review is completed by the IMF’s executive board, Ghana would have access to about $360 million in terms of disbursement. “We are working, our staff are working toward a board meeting in early December and will provide additional details on the precise date when we have them,” she added. She described the programme performance as encou...

Candidate for the African Union Commission Chairperson position in the 2025 elections and a former Prime Minister of Kenya, Raila Odinga, has called for a restructuring of the Africa’s economies, stressing the need to address deep-seated inequality and rising unemployment. Raila Odinga wants inclusive policies designed that promote job creation and reduce systemic inequalities. Speaking at the opening ceremony of the 45th Session of the Organisation of the African Trade Union Unity (OATUU) Council Meeting in Accra, Raila Odinga said Africa must avoid an economic system which disproportionately favors small elite while leaving the majority, particularly the working class, in perpetual struggle. Citing an African Development Bank report which indicated that Africa will account for eleven of the world’s 20 fastest-growing economies this year and set to remain the second-fastest-growing region after Asia ,the former Kenyan Prime Minister called for an all inclusive economy that benefits al...

  The West African Gas Pipeline Company Limited (WAPCo), has announced the beginning of its planned cleaning and inspection of the West African Gas Pipeline (WAGP) on Monday, November 25, 2024, WAPCo in a statement said the comprehensive cleaning and inspection exercise is a key maintenance and regulatory requirement to ensure the safe and efficient operation of the pipeline. It added that the exercise aligns with industry best practices, and will cover the entire pipeline infrastructure, from Itoki in Ogun State in Nigeria to Takoradi in the Western Region of Ghana. Tourism packages It is part of WAPCo’s ongoing efforts to maintain the integrity of the WAGP and ensure its continued safe and reliable operation across the West African region. “The project will be in two phases. The first phase which begins on Monday 25 November, involves the cleaning and inspection of the onshore section of the pipeline which is located in Nigeria. This first phase is scheduled to last for 10 days. ...

 The UN Climate Change Conference (COP29) closed with a new finance goal to help countries to protect their people and economies against climate disasters, and share in the vast benefits of the clean energy boom. With a central focus on climate finance, COP29 brought together nearly 200 countries in Baku, Azerbaijan, and reached a breakthrough agreement that will: Triple finance to developing countries, from the previous goal of USD 100 billion annually, to USD 300 billion annually by 2035. Secure efforts of all actors to work together to scale up finance to developing countries, from public and private sources, to the amount of USD 1.3 trillion per year by 2035. Known formally as the New Collective Quantified Goal on Climate Finance (NCQG), it was agreed after two weeks of intensive negotiations and several years of preparatory work, in a process that requires all nations to unanimously agree on every word of the agreement. This new finance goal is an insurance policy for humanity...

  Thoughts are things. Whatever that has ever been created in this world either in the life of individuals, families, communities and nations is as a result of a well-formed THOUGHT.  A person's thoughts affect his/her immediate atmosphere and surroundings. Walk to anyone and if you are sensitive to energy, you will feel his/her dominant thoughts or see the evidence of them around him or her. And this is applicable to families, communities and nations. So it goes without saying that GHANA as we see it today, is the creation of all of us, especially those who have the responsibility to shape the thinking and the direction of this nation. Hence everything eventually is being run down because we all hold strongly to a belief that individual wealth and riches make a person Stronger and Powerful more than a National Wealth. So, the entire country is on a scavenging and looting spree, to get things to enrich self. Sadly, in Ghana even those who are to be the conscience of the nation...

 Scancom PLC (MTN Ghana) has been awarded Telco of the Year at the prestigious Africa Tech Festival Awards held in Cape Town, South Africa. This award recognizes MTN Ghana's innovative approach to addressing 4G traffic suppression in Accra since 2021. MTN Ghana triumphed over competitors such as Liquid Intelligent Technologies, LANCK Telecom, and Orange Telecom to secure this esteemed accolade. This achievement followed a collaborative effort with Huawei to deploy a groundbreaking 2.6G Frequency-Division-Duplexing (FDD) massive Multiple-Input Multiple-Output (MIMO) solution. This advanced technology significantly improved 4G network performance, providing a 5G-like experience and alleviating capacity bottlenecks.   Officials from MTN Group and our partner Huawei receive the award on behalf of MTN Ghana   Commenting on the award, Stephen Blewett, the CEO of MTN Ghana, stated, "We are thrilled to receive this award, which validates our commitment to investing in modern net...

 In a bold move to tackle Kenya's crippling sanitation crisis, Uasin Gishu County has joined forces with the Jospong Group of Companies to revolutionise waste management and create a cleaner, healthier future for thousands. On Friday, November 22, 2024, in Accra, a Memorandum of Understanding (MoU) was signed between the Jospong Group of Companies (JGC) and the government of Uasin Gishu County in Eldoret, Kenya to enhance sanitation services. This partnership aims to utilize Jospong Group's expertise in waste management to tackle Kenya's sanitation challenges. The Governor of Eldoret County, Dr. Jonathan Bii Chelilim, expressed confidence that this agreement would significantly improve sanitation and create jobs for Kenyans. We believe that this partnership will not only improve sanitation but also create employment opportunities for our people," he said. The collaboration is expected to enhance various aspects of sanitation management, benefiting thousands of citizens...

  The recent inauguration of Bank Square, the new headquarters of the Bank of Ghana (BoG), constructed by Goldkey Properties Limited, a wholly Ghanaian real estate and construction company, has highlighted the capabilities of local businesses in the country. “This remarkable achievement underscores the capabilities of our local enterprises, and we should take pride in it”, Managing Director of GCB Bank Plc and President of Ghana Association of Banks, Kofi Adomakoh, said during the inauguration. It is important that we continue to trust in our abilities and actively engage the services of our local business to lead in the infrastructural development of our country”, Mr Adomakoh added. “The company that put this magnificent edifice together, Goldkey Properties, is a Ghanaian-owned company. This is an amazing job. So, I would say that Ghana is moving forward, and I'm very proud of what I have seen today”, Eric Okyere Darko, who is a lawyer in New York and a board member of Ghana Infra...

  Nestlé Ghana Limited has been honored with four prestigious awards at the 13th Association of Ghana Industry and Quality Awards ceremony. The event, held in an esteemed setting, gathered prominent figures from Ghana’s industrial sector. Amidst the anticipation, Nestlé Ghana emerged as one of the evening’s notable winners, securing accolades in several key categories. This recognition underscores Nestlé Ghana’s relentless pursuit of excellence and innovation, marking a significant milestone that highlights the company’s substantial contributions to the manufacturing industry in Ghana. Nestlé Ghana's exceptional performance was acknowledged with the following awards: Overall Best National Quality Award, Diamond Category (Food) Overall Best Practices in Sustainable Manufacturing Best Company (Food Sector) Overall Industrial Company of the Year, affirming its status as a leader not only within the food sector but also across Ghana's entire industrial landscape. This success is a ...

 The Asian African Consortium (AAC) reassured investors of its commitment to sustainable rice production and food security during a side event at the COP 29 in Azerbaijan. The Northern Sector Coordinator of Asian African Consortium (AAC), a subsidiary of the Jospong Group of Companies, Peter Dawuni, assured potential investors that sufficient land acquisition was in place to support the project. We have legally secured 200,000 acres of land to sustain our rice revolution project, making it an attractive opportunity for investors, and we possess all necessary documents covering this transaction," Dawuni disclosed. He stressed that any investor partnering with AAC will not face land-related challenges, assuring further that "we're confident our partnership will drive growth, improve food security, and contribute to Ghana's economic development." Dawuni delivered these assurances during a presentation on Sustainable Practices In Food, Agriculture, & Water Manage...

  Access Bank, Africa’s leading commercial bank, has announced the launch of The Power of 100 Africa initiative, aimed at honoring women driving change across various sectors in Africa. Building on the success of the 2015 Power of 100 book, which celebrated influential Nigerian women, this expanded project will highlight remarkable women in business, healthcare, technology, education, and more. In his remarks, Managing Director of Access Bank (Ghana) Plc, Olumide Olatunji, explained the Bank’s motivation for expanding the project beyond Nigeria. “This year’s edition of Power of 100 will extend beyond Nigeria, celebrating women making significant impact across the African continent. The Power of 100 Africa is not just a celebration, but a call to action”. We are opening nominations today, inviting the public to help identify these phenomenal women—trailblazers, change-makers, and unsung heroes.” Olumide also emphasized the importance of spotlighting African women leading innovations...