Kofi Ahovi

 The Association of Ghana Industries (AGI) has welcomed the removal of the 1% Electronic Transfer Levy (E-Levy), stating that it will boost digital financial transactions and reduce the cost of doing business in Ghana. The CEO of AGI, Seth Twum Akwaboah, speaking to Citi Business News at MTN House in Accra during the first anniversary of the telecommunication company’s CEO in office, commended the government for its decision, highlighting its positive impact on businesses, especially small and medium enterprises (SMEs). Seventy-five percent of our members are SMEs, and for them, digital transactions are essential. Any additional cost discourages their use. The removal of the levy will not only cut costs but also encourage more businesses to embrace digital financial services and electronic money transfers. It’s a commitment the President made, and now that it has been fulfilled, we look forward to seeing its impact on business growth”, the CEO of AGI said. Meanwhile, Ing. Dr. Kenne...

 Despite a decline in fresh tomato prices, the cost of tomato paste continues to rise, highlighting a divergence in price trends within Ghana’s food market. This comes as new data from the Ghana Statistical Service (GSS) shows a drop in food inflation, from 28.1% in February 2025 to 26.5% in March 2025. According to the latest Consumer Price Index (CPI) Report, tomato paste recorded the highest month-on-month price increase of 8.1% among the 25 key food items in Ghana’s national food basket. This is significant given that overall month-on-month inflation for March 2025 stood at just 0.2%. In contrast, fresh tomatoes saw a price deflation of 4.9%, reflecting lower costs at the retail level. Other items that recorded notable price increases in March 2025 include sea-caught fish, which saw a 3.2% rise, and hotel accommodation, which increased by 2.4%. Looking at a broader set of 307 items, independent of their weight in the inflation calculation, ginger continues to top year-on-year p...

The World Bank has firmly dismissed claims that any of its funded projects in Ghana have been put on hold, aiming to reassure stakeholders amid rising concerns over the country’s economic situation. In a brief statement released on Thursday, the multilateral financial institution stated: “No projects in the World Bank-financed portfolio in Ghana are currently suspended.” This follows speculations that two major World Bank-funded initiatives—the $200 million Tree Crops Diversification Project and the $200 million Ghana Digital Acceleration Project (GDAP)—had been suspended due to the recent dismissal of key officials by the new administration. As a key development partner, the World Bank plays a vital role in Ghana’s growth, financing projects across critical sectors such as infrastructure, healthcare, education, and energy. Any disruption to these programs could have significant economic and social repercussions, potentially impacting service delivery, job creation, and investor confid...

 In a move to address the gender financing gap, Absa Bank Ghana LTD has launched ‘She Business’, an update to its women’s banking proposition that offers collateral-free loans of up to GHc2 million at 10% per annum to eligible female entrepreneurs. The initiative forms part of the bank’s broader effort to help close Ghana’s estimated $6.1 billion MSME credit gap. Today’s launch is not just about updating our proposition. It is a statement of our intent to help women entrepreneurs take advantage of real business opportunities,” said Dr. Edward Nartey Botchway, Managing Director of Absa Bank Ghana LTD. “For us, it is a compelling opportunity to implement a system that helps MSMEs thrive.” She Business has been developed on the successes chalked by EMERGE, Absa’s programme tailored for women-led enterprises, which disbursed over GHc800 million in funding. The refreshed offering combines financial access with advisory services, business insurance, market access opportunities, networkin...

  The United States Ambassador to Ghana, Virginia Evelyn Palmer, has downplayed concerns over the future of U.S.-Ghana trade relations following a broader shift in American trade policy. Her remarks come in response to a series of new tariffs introduced by President Donald Trump, including a 34% levy on Chinese imports and a 20% tax on goods from the European Union. These measures have heightened global trade tensions and sparked mixed reactions from world leaders. Speaking from the Rose Garden, President Trump defended the tariffs as part of a national economic emergency, arguing that they were necessary to protect domestic manufacturing and counter decades of what he described as unfair economic practices. Despite growing concerns, Ambassador Palmer reassured Ghanaians about the resilience of the U.S.-Ghana trade relationship, which currently exceeds $3 billion in bilateral trade and investment. She expressed confidence that Ghana’s key exports, such as gold and gas, would remain...

 Richeal Adom, a community health nurse, has dedicated her life to caring for children with disabilities in Cape Coast- Ghana. Her selfless work has transformed the lives of numerous children and their families, earning her a nomination for the MTN Heroes of Change initiative. As Adom explains, "I firmly believe in nurturing every child's potential. Seeing children with disabilities thrive and enjoy life is what motivates me to continue my work." Her personal experience with her son's diagnosis with spinal bifida further fueled her passion to support children with disabilities. Her project, the Challenged Children Foundation, provides comprehensive care, safe shelter, food, clothing, and support to children with disabilities. Adom's husband and a team of volunteers assist her in caring for the children. The foundation relies on Adom's salary and occasional support from family and friends to fund its activities. According to Reverend Noah Yaw Adunkwaa, a commun...