Kofi Ahovi

  MobileMoney LTD (MoMo) has presented prizes to winners of the 1st monthly draw of the ongoing ‘Me Nsa Aka’ promotion. Hillary Kwaku Angua Mante from Accra emerged as the winner for the month with an amount of Ghs 5,000 e- cash whilst Charles Benjamin McCarthy and Joseph King Martey also from Accra received Ghs 3,000 each following a draw conducted by the National Lottery Authority in Accra. Commenting on the promo the Senior Manager for Channel Distribution of MobileMoney LTD Abdul Majeed Rufai expressed his excitement about the positive feedback received following customers use of the MoMo app for their transactions. He urged all customers to download and use the MoMo app saying, “the MoMo app offers customers value propositions that enhance your experience in undertaking various financial transactions. This promotion offers customers the unique opportunity to qualify and win the prizes as they undertake various transactions including bank services, payments, insurance, savings ...

  Emmanuel Osei, Esq, Head of the Technology Transfer Agreement Department at the Ghana Investment Promotion Centre (GIPC), has described the pending Ghana Investment Promotion Authority (GIPA) Bill 2025 as a major step toward improving Ghana’s technology transfer framework. The GIPA Bill 2025 is designed to create a more responsive and efficient framework to regulate Technology Transfer Agreements (TTA) and to promote, facilitate, and regulate technology transfers in Ghana,” Speaking during a UK-Ghana Chamber of Commerce (UKGCC) webinar, “Technology Transfer Agreements: Updates and Changes,” moderated by Theophilus Tawiah, Managing Partner of WTS Nobisfields, Osei outlined Ghana’s current regulatory landscape and explained how the Ghana Investment Promotion Authority (GIPA) Bill 2025 will transform technology transfer administration. Among the key reforms are efforts to collaborate with banks to ensure that only valid, registered TTAs are used for foreign exchange remittances. Cur...

  Leading figures and delegates from Ghana and around the world will convene at Yasmina British Academy, Abu Dhabi, UAE, on November 15-16 for the World Schools Summit – hosted by T4 Education, Aldar Education and the Emirates Foundation and supported by CIFF – to tackle the greatest challenges in global education. The landmark event is also backed by Microsoft, Google, Carter Fleet , Inicio Partners , Best School to Work , the Education Leaders Forum , HP, International Baccalaureate Organization, Prometric, Edmentum and Magrudy's.  The World Schools Summit will bring together over 1,000 leaders of the world’s best schools alongside policymakers, NGOs, tech companies and the biggest figures in global education to harness education to build leadership for a better world.   Speakers include:  Ben Gomes, Chief Technologist, Learning and Sustainability, Google Angeline Murimirwa, CEO of CAMFED and one of TIME magazine’s 100 Most Influential People of 2025 Theron F...

   Ghana’s entrepreneurial landscape is set for a major boost with the launch of the GH₵300 million Scale Up Fund, an initiative designed to help local businesses transition from survival to sustainable success. Speaking at the launch event, Richard Nii Armah Quaye, business mogul and philanthropist, emphasized that the new fund marks “the beginning of a movement” — one that bridges the gap between potential and performance for Ghanaian entrepreneurs. The Scale Up Fund is a bridge from potential to power, from survival to success,” he declared. He added “We’re putting ₵300 million behind one clear belief: Ghana doesn’t lack talent or ideas; what we often lack is the capital and the systems to scale.” Quaye noted that since its inception, Quick Angels has demonstrated the power of collective investment and mentorship through partnerships with thriving Ghanaian brands such as Pizzaman Chickenman, Oya Micro-Credit, Sankofa, Burger King, King Ranch, and Pinkberry. According to hi...

  Ghana Cocoa Board (COCOBOD) has officially inaugurated management committees of four of its divisions and subsidiaries – the Seed Production Division (SPD), Cocoa Health and Extension Division (CHED), Cocoa Research Institute of Ghana (CRIG), and Cocoa Clinic. The inauguration of these management committees is part of efforts to strengthen governance and enhance efficiency and accountability within the organisation. In his inaugural address, the Chief Executive of COCOBOD, Dr. Randy Abbey highlighted the importance of the roles of these subsidiaries and divisions in the discharge of the Board’s mandate. He indicated that the constitution of the committees and their mandate are consistent with President John Dramani Mahama’s Reset Agenda and urged members to give off their best despite the enormity of the task. No matter how challenging the task is, we have a responsibility to bring our best together to pool the necessary resources that we can to ensure that we are able to turn th...

  Scancom PLC (MTN Ghana) has reported a strong financial performance for the first nine months of 2025, with profit after tax rising by 45.9 percent year-on-year to GH₵5.5 billion. This was driven by continued growth in data and Mobile Money services and sustained investments in network expansion. According to the company’s financial statement released on Tuesday, service revenue grew by 36.3 percent to GH₵17.3 billion, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose 41.6 percent to GH₵10.2 billion, achieving a margin of 58.4 percent. During the review period, MTN Ghana paid GH₵7.3 billion in direct and indirect taxes to the state.   Chief Executive Officer Stephen Blewett said the results reflect the consistent execution of the company’s commercial strategy and improvements in the macroeconomic environment. Our performance was driven by subscriber growth and sustained capital expenditure, supported by better operational conditions that streng...

 Ghana’s banking industry maintained strong profitability in the first eight months of 2025, with profit-after-tax rising by 46.1% to GH¢9.7 billion, compared to GH¢6.7 billion recorded during the same period in 2024. According to the September 2025 Monetary Policy Report, the sector posted gains across all income lines, with other income surging 47.3% in August 2025, reversing a 2.9% contraction recorded a year earlier. Net interest income rose 21.8% to GH¢19.2 billion, up from GH¢16.9 billion in August 2024, driven by a slowdown in interest expenses due to lower interbank lending rates. On a year-on-year basis, interest income increased 21.5% to GH¢29.3 billion, while interest expenses climbed to GH¢10.2 billion from GH¢8.4 billion, representing 20.9% growth — slightly below the 22.1% growth in August 2024. The report further noted that net fees and commissions grew 13.1% in August 2025, down from 22.9% a year earlier, while overall net operating income expanded by 28%, compared ...

 The Environmental Service Providers Association (ESPA) has sounded the alarm on the impending collapse of Ghana's waste management system, warning that immediate government intervention is necessary to avoid a national sanitation and public health emergency. If immediate government attention and intervention are not provided, these compounded challenges could cripple Ghana’s waste management system, reversing years of progress made in keeping our cities clean and protecting public health and the environment," Madam Ama Ofori Antwi, Executive Secretary of ESPA, stated. According to ESPA, the waste management sector is faced with an alarming state of operational and financial distress, with service providers struggling to stay afloat due to unprofitable and unfair fee rates fixed by Metropolitan, Municipal, and District Assemblies (MMDAs). The situation has been further compounded by the lack of access to functional treatment and disposal sites, many of which are in deteriorate...

 The Chamber of Mines is taking steps to develop a standardized framework for land acquisition in the mining sector. According to Ahmed Nantogmah, Chief Operating Officer of the Chamber of Mines, the current land acquisition process is often marred by challenges and difficulties, which can drag on for a long time. Nantogmah, in an interview after a land access consultative workshop in Accra, explained that the Chamber in collaboration with regulators and mining companies are working to develop a framework that will simplify land acquisition and compensation processes. We thought that we bring the regulators and the mining companies into a room where we can have a framework that will make land acquisition simplified within the mining industry," he said. Challenges in Land Acquisition Nantogmah highlighted the challenges associated with land acquisition, including speculators and individuals negotiating for land on behalf of communities. He also noted that the lack of standardizatio...

  In a moment that blended diplomacy, pride, and purpose, Ghana’s Ambassador to the United States, H.E. Victor Smith, issued a heartfelt call to Ghanaians in Iowa: “Get involved in the development of your country.” His message, delivered during the prestigious Borlaug Dialogue, was more than ceremonial, it was a rallying cry to awaken the power of the diaspora. Ambassador Smith was accompanying Ghana’s Vice President, Professor Jane Naana Opoku-Agyemang, whose presence at the global agricultural summit underscored Ghana’s commitment to innovation, food security, and international collaboration. The Borlaug Dialogue, named after Nobel Laureate Norman Borlaug, convenes world leaders, scientists, and policymakers to tackle the planet’s most pressing agricultural challenges. Ghana’s participation was not only strategic, it was symbolic of a nation ready to lead. But it was the Ghanaian community in Iowa that stole the spotlight. Despite the short notice, they turned out with warm greet...

  The Council of Ewe Associations of North America (CEANA) has successfully concluded its 32nd Annual Convention, held from August 28 to September 1, 2025, at the Sheraton DFW Airport Hotel in Dallas, Texas. The event, themed "Our Health, Our Wealth," brought together Ewe communities from across the globe to celebrate culture, unity, and purpose. The convention featured a series of cultural exhibitions, keynote addresses, and fundraising activities, all aimed at mobilizing support for the development of Eweland. Dr. Kenneth Afenya, a nephrologist and Medical Director at Lex Kidney Care, delivered a keynote address, emphasizing the importance of healthcare and social determinants in shaping community well-being. A highlight of the convention was the Second Grand Durbar of Chiefs and Queen Mothers, which showcased the rich cultural heritage of the Ewe people. The Ewe Association of Greater Boston emerged as the winner of the Associations' Challenge, raising significant fund...

  Fidelity Bank Ghana, in partnership with Innohub, has successfully concluded the 2nd edition of the GreenTech Innovation Challenge (GTIC). This reaffirms its commitment to climate-smart finance and the strategic role of technology in ensuring food and economic security. The initiative awarded a total of GH¢1 million in grants to 16 pioneering climate-smart enterprises driving impact across Ghana’s agricultural and environmental sectors. The pitch event, held at the West Africa Centre for Crop Improvement at the University of Ghana, Legon, served as a convergence point for innovators, financiers, and ecosystem partners celebrating Africa’s dynamic climate innovation landscape. After a competitive selection process involving 25 enterprises, 16 outstanding businesses were shortlisted for the main pitch, addressing challenges in precision agriculture, post-harvest management, digital financial services, climate-smart agriculture, and value chain optimisation. From these, AgriCentric ...

  Governor of the Bank of Ghana, Dr. Johnson Asiama, has reaffirmed the central bank’s commitment to implementing sound policies to maintain exchange rate stability and consolidate recent gains. His assurance comes as the Ghana cedi continues its strong rally, appreciating by 37 percent against the US dollar as of October 17, 2025, amid improved market confidence and tighter monetary management. Speaking at the launch of the Cedi@60 celebrations in Accra, Dr. Asiama said the Bank of Ghana remains focused on sustaining confidence in the local currency and strengthening the foundation for long-term economic stability. The Cedi has appreciated by 37 percent as at October 17 and according to the World Bank it is the world’s best currency in Sub-Saharan Africa. This gain is not by accident. They are the result of hard and sometimes unpopular policies. Fiscal consolidation by government, tight monetary policy stance by the Bank of Ghana and renewed confidence in the investor community an...

  Ghana has made a decisive economic turnaround under the leadership of President John Dramani Mahama, according to the Governor of the Bank of Ghana, Dr. Johnson Asiama. Speaking at the launch of the 60th anniversary of the Ghana Cedi in Accra on Tuesday, October 28, Dr. Asiama highlighted that coordinated and difficult policy measures have yielded tangible results for the country. Under the leadership of His Excellency John Dramani Mahama, and Her Excellency the Vice President, and through coordinated, difficult but necessary policy actions, I am happy to say that Ghana has turned a decisive corner and indeed the evidence is compelling,” he stated. The Bank of Ghana Governor pointed to several key indicators of the country’s improved economic position. He noted that headline inflation, which has been a major concern in recent years, stood at 9.4 percent as of September 2025, with expectations that it will fall even further by the end of the year. The national currency, the cedi, ...

The Bank of Ghana (BoG) has rolled out new Anti-Money Laundering, Countering the Financing of Terrorism, and Proliferation Financing (AML/CFT/PF) Guidelines aimed at tightening oversight and ensuring stronger compliance across the financial sector. The move, according to the central bank, forms part of ongoing efforts to fortify Ghana’s financial system against illicit financial flows and align the country’s practices with international standard The revised September 2025 guideline published by the Central Bank introduces enhanced due diligence procedures for banks, specialized deposit-taking institutions, and other regulated financial entities. Institutions are now required to identify and verify the identities of their customers more rigorously, assess risk exposure, and report suspicious transactions promptly to the Financial Intelligence Centre (FIC). It also places greater accountability on boards and senior management to oversee compliance frameworks and ensure continuous staff t...

  MTN Ghana’s Chief Digital Officer, Ibrahim Misto, has called for a bold and united effort to redefine Africa’s digital identity, urging stakeholders to build an ecosystem that is secure, inclusive, and authentically African. Speaking at the 10 th Anniversary of the MOBEX Africa Tech Expo & Innovation Awards on Tuesday, October 21, 2025, at the Kempinski Gold Coast City, Accra, the MTN executive said the time had come for Africa to “reset” its digital sovereignty by taking ownership of its data, infrastructure, and digital narratives. For far too long, Africa’s digital identity has been fragmented and often defined by others. A true reset means building a future where our digital presence, our data, and our innovations reflect who we are — secure, sovereign, and proudly African,” he said. Mr. Misto emphasized that MTN’s Ambition 2025 strategy places digital inclusion at the heart of its operations, aimed at leading digital solutions for Africa’s progress. Over the past five y...

  Finance Minister Dr. Ato Forson is expected to present the 2026 Budget Statement and Economic Policy to Parliament on November 13, Joy Business has learned from persons familiar with the preparation process. The proposed date, which is subject to parliamentary approval, will mark the government’s first major budget presentation since winning the 2024 elections and having nearly nine months to steer the economy. Some analysts have observed that the 2025 Budget largely operated within the framework established by the previous administration. Under the Public Financial Management Act, the Finance Minister—acting on behalf of the President—is required to present the national budget to Parliament no later than November 15 each year. The Finance Ministry has reportedly completed several rounds of stakeholder engagements and industry consultations to finalise the policies and programs that will feature in the 2026 Budget. Expectations Dr. Forson has indicated in earlier interviews that ...

  Banks wrote off GH¢1.05 billion as bad debt in the first eight months of 2025, about a 46% decline over the same period in 2024. This was in the form of loan losses, depreciation, among others. During the same period in 2024, the Bank of Ghana wrote off GH¢1.95 billion as bad debt. According to the Domestic Money Banks Income Statement for August 2025, interest expenses were estimated at GH¢10.11 billion, about 20.9% increase over the same period in 2024. The Bank of Ghana disclosed that the banking industry’s asset quality improved in August 2025 relative to August 2024, although credit risk remains elevated. The improvement in asset quality was broad-based with a decrease in non-performing loans (NPLs) in all economic sectors. This led to a decrease in the NPL ratio for the banking industry”, it mentioned. Asset Quality The report stated that the banking industry’s asset quality improved during the period under review. The industry’s NPL ratio decreased to 20.8% in August 2025,...

  Newmont has announced the appointment of Danquah Addo-Yobo as Country Manager for its Ghana business. The role, which took effect from October 1, 2025, is part of the strategic realignment of Newmont’s global structure, following the integration of the company’s Africa and Asia-Pacific business operations into a newly formed Africa Asia Pacific (AAP) Business Unit. As the primary representative for the company in Ghana, Danquah’s role is essential to developing and executing strategies to manage Newmont’s Business outcomes and support the continuity of the Ghana operations.   His appointment reflects both his strong leadership and Newmont’s renewed focus on country-level partnerships, operational effectiveness, and sustainable growth. Danquah brings over two decades of multinational leadership experience across mining, agribusiness, telecommunications, and logistics, having served in senior executive roles across Africa, Canada and Asia. Before his current role, Danquah serv...

 Agricultural Development Bank PLC (ADB) has posted a strong financial performance for the third quarter of 2025, with profit before tax hitting GH¢447.49 million, representing 153.66% growth compared to GH¢176.41million recorded during the same period in 2024. The Bank’s total assets grew by 17%, rising from GH¢13.87 billion in September 2024 to GH¢16.22 billion as of September 2025, reflecting continued balance sheet expansion driven by robust growth in investment securities and deposits. Customer deposits also increased to GH¢12.85billion, up from GH¢11.15billion a year earlier, while net investment securities rose significantly to GH¢6.45billion from GH¢4.71billion in the same period last year. Net interest income also recorded significant growth, climbing to GH¢918.1million from GH¢551.0million in 2024, buoyed by strong yields on investments and prudent income-generating initiatives. Total operating income increased by 53.5% year on year from GH¢765.7million in the same period...

  Vice President Prof. Naana Jane Opoku-Agyemang has reaffirmed Ghana’s strong commitment to agricultural transformation, food security, and inclusive economic growth during her keynote address at the Norman E. Borlaug International Dialogue, a premier global forum on food and agriculture. Delivering the closing remarks, Prof. Opoku-Agyemang reflected on the enduring legacy of Dr. Norman Borlaug, whose conviction that “no child should go to bed hungry”  continues to inspire global action. She called for that moral compass to guide today’s agricultural and food security strategies. Highlighting the pivotal role of agriculture in Ghana’s development, she noted that nearly two in every five Ghanaians depend on farming for their livelihoods. However, she expressed concern that the country still spends over USD 2 billion annually on food imports, despite having the climate and capacity to produce much of what it consumes. “This must change,” she declared. Prof. Opoku-Agyemang outli...

 Children at the Atatem D/A Basic School are unknowingly consuming water laced with toxic chemicals, a new study by the Rights of Nature Ghana Movement (RoNAG) and KNUST scientists has revealed. The research shows arsenic, chromium, and lead levels hundreds of times above WHO safety limits, tracing the contamination to illegal mining activities encroaching on the school’s land and nearby rivers. Galamsey’s Proximity Sparks Concern RoNAG initiated the study following observations during a Rights of Nature sensitization workshop in June 2025. The workshop, which included tree-planting activities and educational sessions for teachers and pupils, revealed disturbing encroachment by illegal mining (“galamsey”) operations onto the school’s land. The close proximity of these sites prompted the research team led by Dr. Dickson Adom and Dr. David Azanu, supported by Mr. Isaac Ayew Aidoo and Ms. Deborah Ntaidu from KNUST’s Department of Environmental Science to conduct a detailed water quali...

  Nestlé Ghana will soon launch a new variant of CERELAC with “no refined sugar” as part of its existing product lineup. This initiative is designed to provide options for mothers and caregivers of young children, allowing them to select the CERELAC that best aligns with their nutritional preferences. The new CERELAC variant provides the same trusted nutrition, quality, and great taste that parents and caregivers know and love. It will be available alongside the current CERELAC products manufactured in Ghana and will be exported gradually to other Central and West African countries. The current CERELAC and the CERELAC with “no refined sugar” options will be positioned in the same price range. The rollout will adhere to local regulations, featuring clear information labeling to assist parents in making informed decisions regarding their children’s nutrition.

  Dr. Samanjith Udumalagala, Chief Operating Officer of Jospong Group, has unveiled the company's ambitious plans to tackle Africa's growing waste management challenges. With presence in 26 countries, Jospong Group is well-positioned to provide innovative solutions to the continent's waste management crisis. Clean, Green, Healthier Africa is what Jospong is championing." - Dr. Samanjith Udumalagala, COO, Jospong Group. To achieve this vision, the company has identified approximately 30 to 35 African countries in need of waste management solutions and is engaged in discussions with various governments to deliver effective solutions. Leveraging over 30 years of experience in waste management and sustainability, Jospong Group is confident in its ability to address Africa's unique waste management challenges. African Solutions for African Challenges Dr. Udumalagala emphasized the importance of African solutions for African challenges, stating, "It is always good t...

  Togo ranked as Ghana’s largest informal trading partner, accounting for almost GH¢1.8 billion of informal cross-border trade in the fourth quarter of 2024. This is according to new data from the Ghana Statistical Service. The data comes from Ghana’s first national Informal Cross-Border Trade (ICBT) Survey, which tracked unrecorded trade between Ghana and its three land neighbours – Togo, Burkina Faso and Côte d’Ivoire. The report shows that Togo recorded the highest volume of informal trade with Ghana, representing 61.2% of all informal trade activity between the two countries. However, Ghana recorded a trade deficit with Togo, meaning it imported more than it exported. Cooking oil was identified as the main imported product from both Togo and Côte d’Ivoire, while soft drinks were the top informal export from Ghana to Togo. Other popular imports from Togo included rice, mattresses, and livestock, showing the country’s strong role in supplying consumer and food products to Ghana’s...

 The year-on-year producer price inflation (PPI) for all goods and services stood at 3.2% in September 2025, according to the Ghana Statistical Service (GSS). This represents a 0.2 percentage point increase from the 3.0% recorded in August 2025, but a sharp decline of 27.3 percentage points compared to September 2024, when producer inflation was significantly higher. On a month-on-month basis, producer prices rose by 0.9% between August and September 2025, meaning that on average, producers received 0.9% more for their goods and services than they did the previous month. The Mining and Quarrying sector — which carries the largest weight in the PPI basket (43.7%) — saw a marginal increase in its inflation rate from 4.9% in August to 5.0% in September. Similarly, Manufacturing, which accounts for 35% of the PPI weights, recorded a modest uptick from 1.6% to 1.7% over the same period. In contrast, Transport and Storage prices continued to decline, with inflation in the sector dropping...

 MTN Ghana has once again demonstrated its leadership in marketing excellence, innovation, and customer experience after being named the Overall Marketing-Oriented Telecommunications Company of the Year and inducted into the CIMG Telecommunications Hall of Fame for the sixth time at the 2024 Chartered Institute of Marketing, Ghana (CIMG) Awards. The honour reinforces MTN Ghana’s reputation as a brand that delivers impactful marketing initiatives and customer-driven strategies that continue to shape Ghana’s telecommunications industry. The 2024 CIMG Awards, held under the theme “Repositioning Brand Ghana: Marketing for Economic Growth and Transformation,” recognised organisations and individuals who have shown creativity, strategic leadership, and a commitment to delivering value to their stakeholders.   MTN Team with the Awards This latest recognition adds to MTN Ghana’s long list of achievements at the CIMG Awards. Over the years, the company has been recognised for excellen...

 Innovation for Empowerment and Development (IFED Global) is marking its 10th anniversary by gathering young people from across the African continent for the transformative Africa Youth Festival. This milestone celebration follows a decade of impactful youth-centered activities, including the International Youth Diplomacy and Global Junior Model United Nations Conference. In partnership with the National Youth Authority and the Ghana Tourism Development Company (GTDC), IFED Global will host 2,000 young Africans—including students, entrepreneurs, and young professionals—for a five-day festival. Festival Details The festival is scheduled from November 5th to 9th, 2025, with the main events taking place at the University of Ghana, Legon. The Opening Ceremony will be held at The AVI Event Centre in Accra, Ghana. The theme for this year's festival is "Reflect, Review & Reset: Igniting the Future of Africa's Youth," creating a platform for dialogue, skill development, a...