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Serene Insurance CEO Backs Local Capacity to Underwrite Ghana’s Marine Cargo Risks

  Chief Executive Officer of Serene Insurance and 2 nd Vice-President/Chairman of the Ghana Insurers Association (GIA), Mercy Naa Koshie Boampong, has strongly defended the capacity of local insurance companies to provide cutting-edge, growth-oriented risk cover regimes for marine/aviation cargo to safeguard import trade in the long term. Citing Serene Insurance as an example of local capacity, Boampong noted her company was well-placed financially and technically to support the country’s import trade through marine cargo insurance. The strong assurance to importers, regulators and industry stakeholders comes on the back of government’s decision to intensify enforcement of compulsory domestic marine insurance for all commercial imports, noting that local insurers such as Serene Insurance Company Limited possessed requisite experience, technical know-how, the financial muscle and ability to underwrite Ghana’s marine cargo risks at scale. She noted that marine insurance is not a new ...
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Prudential Bank, Rana Motors Power Music, Culture and Community at The Blend Festival 2026

 Accra came alive over the weekend as the lawns of the Accra Polo Club Gardens transformed into a melting pot of culture, music, and high-level networking at the unforgettable edition of The Blend Festival 2026, powered by two Ghanaian giants, Prudential Bank Limited and Rana Motors. From the early hours of the evening, attendees dressed in sophisticated casuals and cultural attire, streamed into the venue, creating an atmosphere of excitement, elegance and celebration. The diverse audience reflected the festival’s unique identity, drawing together various communities and music lovers who gathered not only to enjoy world-class performances but also to network and celebrate shared experiences. The stage came alive with electrifying performances from renowned acts including The Blend Band, whose dynamic set ignited the crowd; Ghanaian music icon Wiyaala captivated audiences with her powerful voice and energetic stage presence, while rising star MaaMi delivered a captivating set that ...
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Ivory Coast eyes cocoa price slash after Ghana’s 28.6% cut

 Ivory Coast is considering reducing the guaranteed farm gate price paid to its cocoa farmers to align with Ghana, as the world’s two largest cocoa producers grapple with a deepening crisis in the sector, according to a Reuters report. The report said senior Ivorian officials indicated that all options are under consideration as the government debates whether to follow Ghana’s recent decision to cut its producer price by 28.6% for the remainder of the 2025/2026 main crop season. Ghana announced the reduction as part of efforts to adjust to the sharp decline in global cocoa prices, in coordination with Abidjan. The discussions between Ghana and the Ivory Coast, as well as internal deliberations within the Ivorian government, had not previously been made public, Reuters reported. Under the Ivory Coast–Ghana Cocoa Initiative (ICCIG), the two countries — which together account for about 60% of global cocoa output — have been working closely since the onset of the crisis. We have put al...
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Gov’t draws hard line on fronting as mining reforms deepen

  Government has issued a strong warning against the practice of “fronting” in Ghana’s mining sector, declaring it will not tolerate foreign companies using Ghanaian names as mere fronts to secure contracts while retaining control and benefits. Speaking at the maiden Mining Local Content Summit 2026 in Takoradi in the Western Region, the Minister for Lands and Natural Resources, Emmanuel Armah- Kofi Buah said the renewed push for local content and indigenisation under President John Mahama’s Reset Agenda will prioritise genuine Ghanaian participation not cosmetic compliance. He cautioned: “This platform we are creating, this great opportunity we are opening for Ghanaian participation, comes with a solemn warning: We frown on, and we will not condone, any form of fronting using Ghanaians.” He added that: “The practice where foreign companies hide behind Ghanaian names, using our people as mere masks to satisfy regulatory requirements while retaining all the control and all the benef...
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BoG flags profitability risks for Interest-Dependent Banks

  The Governor of the Bank of Ghana (BoG) Dr. Johnson Asiama has cautioned commercial banks against excessive reliance on net interest income, warning that a changing interest rate environment could test the resilience of earnings across the industry. Addressing heads of banks in Accra on February 18, 2026, the governor noted that while interest income remains a core component of banking operations, overdependence on it poses risks. There is nothing inherently problematic about net interest income. However, a high dependence on it increases sensitivity to interest rate cycles and sovereign exposure dynamics.” His comments come at a time when Ghana’s monetary conditions are gradually normalising, leading to tighter spreads and declining yields on government securities, traditionally a significant source of bank profitability. Dr. Asiama stressed that as the rate environment stabilises, margins are likely to compress, making it imperative for banks to rethink their revenue strategies...
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GRA intercepts 12 trucks loaded with Cooking Oil and Spaghetti

  The Customs Division of the Ghana Revenue Authority (GRA) has intercepted 12 articulated trucks loaded with 44,055 packages of undeclared edible cooking oil, tomato paste, and spaghetti during a major overnight enforcement operation along the Dawhenya–Tema road. The exercise, carried out between 10:00 p.m. and 5:00 a.m., was led by the Deputy Commissioner of Operations, with support from the Chief Revenue Officer (Preventive, Tema Collection), the Revenue Mobilisation Taskforce of National Security, and enforcement officers from both the Tema Collection and Customs Headquarters. According to Customs officials, the trucks were part of a group of 18 vehicles that had been electronically gated out of the system and declared as transit goods from Akanu, destined for Niger through Kulungugu. However, the vehicles were allegedly moving without the mandatory Customs human escort, a serious breach of established transit procedures. The consignments are estimated to represent potential lo...
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COCOBOD pays additional GH¢854m to LBCs

  The Head of Public Affairs at the Ghana Cocoa Board (COCOBOD), Jerome Kwaku Sam, has announced an additional payment of GH¢854 million to Licensed Buying Companies (LBCs). This follows an earlier payment of GH¢237 million for 50,000 metric tonnes of cocoa, bringing total disbursements to GH¢1.091 billion. The announcement comes as Ghana’s cocoa sector faces crisis, with farmers complaining of delayed payments for several months. In a Facebook post on Thursday, February 19, Sam wrote: “COCOBOD this morning, 19th Feb, 2026 has made payment of Ghc854m totalling Ghc1.091bn to LBCs.” The government recently introduced reforms, including a reduction in the producer price for the remainder of the 2025/2026 crop season. The new price has been set at GH¢41,392 per tonne, equivalent to GH¢2,587 per bag. Authorities explained that the adjustment is intended to protect farmers amid falling global cocoa prices. Meanwhile, COCOBOD revealed that it could save an estimated GH¢5 million monthly f...
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