Kofi Ahovi

 The newly commissioned Mankessim Waste Treatment Plant in the Central Region is set to generate approximately $750,000 in carbon credits for both the state and the operating company. This fund will be reinvested into the facility's expansion and other sectors of the economy. At the commissioning event on October 10, 2024, Executive Chairman of the Jospong Group, Dr. Joseph Siaw Agyepong, emphasized the increasing value of waste, stating, "Waste is no longer disposable; it has become a valuable resource." Minister for Sanitation and Water Resources, Hon. Seyram Alhassan, praised the plant as a testament to the government's commitment to a cleaner Ghana. She highlighted that this facility is one of 16 constructed nationwide and utilizes advanced technology to convert waste into valuable resources like compost and plastic pellets, creating over 700 jobs. His Eminence Osagyefo Amanfo Edu VI, Paramount Chief of Mankessim, expressed optimism about the compost's potenti

 The Ugandan government has partnered with Ghana's Jospong Group of Companies (JGC) to decommission the 39-acre Kiteezi Landfill in the Wakiso District near Kampala. The decommissioned site will be transformed into an ecological recreational facility. Additionally, JGC plans to invest in integrated composting and recycling systems as well as transfer stations, providing comprehensive waste treatment and disposal solutions to improve environmental sanitation in the Greater Kampala Metropolitan Area. This system will produce organic compost for agricultural and horticultural applications, while recovered plastics will serve as raw materials for a new bin manufacturing facility. The initiative is expected to create over 2,000 direct jobs for Ugandans. This collaborative project comes on the heels of a devastating waste slide on August 10, 2024, which resulted in 23 fatalities and significant property damage. Jospong Group, renowned for its extensive experience in Africa and Asia, is w

The Ghana Chamber of Mines has teamed up with the International Cyanide Management Institute (ICMI) to host a two-day workshop on implementation and auditing of the International Cyanide Management Code effective cyanide management and risk minimization. The event, which is the third in series, kicked off on October 8, 2024, in Accra, has drawn approximately 160 participants from mining companies, haulage firms, auditors, and regulators from Ghana and beyond. According to Sulemanu Koney, CEO of the Ghana Chamber of Mines, this training is vital for promoting responsible mining practices. "The use of cyanide in gold extraction has been a long-standing practice, but we recognize the potential risks associated with its handling, use, and storage," he emphasized. Sulemanu Koney, CEO of the Ghana Chamber of Mines The workshop aims to share best practices, discuss emerging technologies, and explore innovative solutions to improve cyanide management. Koney also highlighted the impor

 The Minerals Commission of Ghana has firmly refuted claims of understaffing, asserting that it possesses adequate resources to fulfil its inspection and regulatory duties. Speaking during a parliamentary hearing before the Government Assurances Committee on Monday, October 7, Martin Ayisi, the Chief Executive Officer of the Commission, addressed concerns regarding reports of staffing challenges. Ayisi reassured the committee that the Commission has both the personnel and logistics needed to effectively oversee the mining sector. Ayisi’s remarks come in response to widespread reports suggesting the Commission was facing operational difficulties due to staffing shortages. However, the CEO confidently dismissed these allegations, emphasizing that the Commission is well-equipped to manage its responsibilities efficiently. “Capacity-wise, I think we’re okay. I was listening to the news this morning and I heard one of the radio stations talking about capacity, we’re understaffed, it’s not t

The Ghana Investment Promotion Centre (GIPC) has extended the application deadline for the 21st edition of the Ghana Club 100 Awards to October 11, 2024. In a press statement issued on Monday, October 7, GIPC CEO Yofi Grant stated that this extension allows eligible companies another chance to apply and secure a place among the nation’s top 100 businesses. Eligible participants must be limited liability firms, although companies with government interests may also qualify if government ownership is below 50% unless they are listed on the Ghana Stock Exchange. Grant encouraged companies seeking recognition this year to submit their applications via the GIPC website (https://www.gipc.gov.gh/ghana-club-100-entries/). He also announced that the awards ceremony is now scheduled for October 25, 2024, at the La Palm Royal Beach Hotel. This year’s GC100 will include executive networking sessions, an awards ceremony, and engaging post-event celebrations, continuing the tradition of honouring exc

Zoomlion Ghana Limited has recently addressed concerns raised by some operatives under the Sanitation Module of the Youth Employment Agency (YEA), seeking to clarify its role in the program and provide transparency on payment of allowances. The company emphasized that payment of YEA operatives’ allowances is solely determined by the Government/YEA and then released to Zoomlion for onward payment to the beneficiaries. Zoomlion manages their day-to-day activities but does not control or determine the amount or timing of payments. Regarding working hours, YEA operatives work four hours daily, with no Sunday work. Whenever operatives work outside contracted hours, Zoomlion ensures they receive compensation, including lunch provisions. Although not contractually mandated, Zoomlion provides humanitarian support in cases of death or injury and offers annual gifts to operatives. For nearly two decades, Zoomlion has maintained a steadfast partnership with YEA, ensuring timely salary payments an

 Ghana's economy is set to receive a significant boost with the Ghana Manganese Company Limited's (GMC) planned $450 million manganese refinery Tarkwa in the Western region. This project aims to enhance the value of Ghana's manganese exports by improving the grade of manganese ore from 26.5% to over 40% through refining processes. The president, Nana Addo Danquah Akufo-Addo, is expected to cut sod by the end of this month for the commencement of the project. The first phase, valued at $240 million, will involve constructing a 45MW gas-powered plant and a refinery with a 2 million tonnes per annum capacity. Completion is expected within 24 months, with a sod-cutting ceremony slated for October 2024. Key Benefits Speaking with members of the Journalists for Business Advocacy (JBA), when the group in partnership with the Ghana Chamber of Mines paid a courtesy call on the company, the Managing Director of GMC, Joseph Ampong, noted that processing manganese locally will generate

 Standard Chartered, through its Employee Volunteering Week, has implemented a series of activities which have significantly impacted over 1000 Ghanaian youth, equipping them with essential skills for personal and professional development. Employee volunteering is an initiative of the Bank where employees get a 3-day mandatory leave to support a worthwhile cause. They can participate in skills-based volunteering and volunteering aligned with Futuremakers; the Bank’s community engagement initiative. This skill-based volunteering included workshops and mentoring sessions tailored for students, persons in underserved communities, entrepreneurs, business owners and job seekers living with disabilities. At the forefront of the Bank’s comprehensive approach was a digital marketing masterclass tailored for entrepreneurs, business owners, and job seekers living with disabilities. This session provided foundational knowledge crucial for scaling businesses in the digital age, empowering particip

  The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has reduced the policy rate from 29 percent to 27 percent. At the 120th MPC press conference on Friday September 27, the chair of the committee Dr Ernest Addison said that the domestic economy continues to recover. Macroceconomic conditions have generally improved, growth picked up, headline inflation dropping, monetary conditions remain tight, disinflation process is on the course,” he said. On that basis, the committee decided to lower the policy rate by 200 basis point to 27 percent. He stated that in the assessment of the Committee, preliminary data since the last MPC meeting held in July 2024 indicates that macroeconomic conditions have generally improved. Headline inflation has eased, and growth has `picked up. Fiscal policy implementation has been robust, providing impulse that is supportive of growth, while monetary conditions have remained tight and supportive of the disinflation process. Headline inflation, sinc

The inflation rate for September 2024 has increased to 21.5 per cent from 20.4 recorded in August 2024, the Ghana Statistical Service has announced on Wednesday, October 2. The increase is attributed the increase to a rise in food inflation. Food inflation surged to 22.1 per cent from 19.1 in August 2024. However, non-food inflation declined to 20.9 per cent from 21.5 per cent in August 2024. The report revealed that inflation on locally produced items and imported items increased. Inflation on imported items increased to 17.0 per cent from 16.1 per cent in August, whereas locally produced items recorded inflation of 23.4 per cent from 22.2 per cent in August 2024. Restaurants and accommodation services recorded 27.9 per cent whereas Alcoholic beverages, tobacco and narcotics recorded 27.6 per cent. Also, Housing, water, electricity, gas and other fuels were recorded at 26.4 per cent, Education services had 23.7 per cent Health was recorded at 22.3 per cent and Food and non-alcoholic b

  Absa Bank Ghana Ltd. is reinforcing its support for youth-owned businesses by partnering with the Tidal Rave Festival. This partnership aims to offer tangible business opportunities for Ghana’s next generation of business leaders amid one of the city’s most popular beach festivals. Absa Bank has consistently championed entrepreneurship through its collateral-free SME loans at 10% p.a., SME Clinics, and capacity-building initiatives. By partnering with the Tidal Rave Festival, the bank seeks to leverage the impact of entertainment to promote young business talent. This partnership has resulted in the Absa Ignition Market, a dedicated space at the Tidal Rave Festival where entrepreneurs can showcase their products and services to over 20,000 attendees. This year marks the second collaboration between Absa and the Tidal Rave Festival. The inaugural event last year supported around 70 young vendors, providing them a platform to engage directly with a large audience, thus significantly bo

  Dr. Amin Adam The Ministry of Finance has announced the successful completion of its Eurobond debt exchange and consent solicitation process. The initiative, which aims to restructure Ghana’s Eurobond debt, has received overwhelming support from bondholders, marking a significant milestone in the country’s economic recovery efforts. Launched on September 5, 2024, the offer invited eligible holders of Ghana’s Eurobonds to exchange their existing bonds for new ones under two menu options—Par and Disco. As of the final expiration deadline on September 30, 2024, 98.6% of bondholders, representing the recognized principal amount of the existing bonds, participated in the offer. During the bondholder meetings on Thursday, October 3, holders of the 2013, 2014, and 2015 WB-Guaranteed Notes passed extraordinary resolutions with over 90% representation, enabling the restructuring process to proceed smoothly. Meanwhile, for Aggregated CAC Notes, consents exceeded 98.7%, meeting the required thr

  The National Tenants Union of Ghana (NATUG) has publicly endorsed the National Democratic Congress (NDC) housing policies after reviewing various political parties’ proposals. NATUG praised the NDC’s plans to establish an independent Rent Authority by transforming the Rent Control Department. They also appreciated the party’s commitment to introducing low-interest rent advance schemes and promoting affordable housing options. NATUG criticised the New Patriotic Party’s (NPP) housing promises, labelling them “recycled, unfulfilled, and broken.” This announcement comes as John Dramani Mahama, the NDC flagbearer, has vowed to prioritise low-cost housing for Ghanaians. NATUG said the NDC’s housing policies align with its goals, declaring its support for the party. In a statement dated Wednesday, October 2, NATUG said, “After comparing the housing policies of both parties, the National Tenants’ Union of Ghana have decided to endorse the housing proposals of the National Democratic Congress

  The Senior Staff Association of Volta River Authority (VRA) is asking the government to make a public declaration on the withdrawal of a proposed bill to merge the Electricity Company of Ghana Limited (ECG), Bui Power Authority, Northern Electricity Distribution Company (NEDCO), and the VRA into two separate entities. This follows ongoing calls by the Senior Staff Groups of VRA for the government to reconsider the proposed merger, arguing that it may have severe consequences for both the VRA and the country. This demand was made during a closed-door meeting between the Minister of State at the Ministry of Energy, Herbert Krapah, and the leadership of the Senior Staff Association of VRA to resolve their concerns. In an interview with Citi News, the Chairman of the Senior Staff Association of VRA, Theophilus Tetteh Ahia, indicated that the VRA will continue to press for a public declaration that the bill has been withdrawn. “The Minister said he’s going to do the right thing, We’re exp

  The total number of Automated Teller Machines (ATMs) deployed by banks across Ghana reached 2,287 by the end of 2023, reflecting a modest 1.4% increase compared to 2022. In contrast, Point of Sale (POS) terminals experienced a significant decline, dropping by 6.91% to 12,491 by December 2023. According to the 2023 Payment Systems Oversight Annual Report, this reduction was primarily due to the decommissioning of non-functional POS devices by some commercial banks. The report highlights that digital transformation continues to reshape Ghana’s banking landscape, with banks prioritizing investments in digital platforms to enhance customer experience. In 2023, mobile banking apps emerged as the most widely used digital transaction tool, followed closely by USSD services and online banking. The demand for digital banking solutions remains strong, as evidenced by the surge in digital banking products offered by banks, which grew from 109 in 2022 to 125 in 2023. This reflects the increasing

  The Perfect Relief Foundation International, with support from the Member of Parliament for Ablekuma South, Alfred Oko Vanderpuije, has successfully commissioned a new 10-bed emergency unit at Mamprobi Hospital. This initiative follows urgent concerns raised by the hospital’s management regarding the need for a larger emergency facility to address the increasing number of preventable deaths caused by delayed medical attention. Previously, the hospital’s emergency unit operated with only three beds, serving over 50,000 patients. The strain on resources often forced patients to be cared for in corridors, on stretchers, and even on benches in the outpatient department. Speaking to Citi News, the Chief Executive Officer of the Foundation, Dr. Joelene Anom Clottey, reiterated the foundation’s dedication to addressing the community’s needs and improving the hospital’s infrastructure. So, if this emergency room is put together, this can ease down the death rates because of the inability to

  The Chamber of Petroleum Consumers (COPEC) has predicted that Ghana could end 2024 with significantly higher fuel prices if tensions in the Middle East continue to escalate and the cedi further depreciates. This warning comes after some Oil Marketing Companies (OMCs) adjusted fuel prices upward in the first pricing window of October after sustained declines in four pricing windows. Shell, which previously sold petrol [FuelSave Super] at GH¢13.49 per litre in the second pricing window of September, is now retailing the product at GHS 13.79. Diesel [FuelSave Diesel], which was also previously retailed at GHS 13.99 per litre is now priced at GHS 14.35. The latest round of increases has sparked concern among consumers already grappling with the high cost of living. Executive Secretary of COPEC, Duncan Amoah, in an interview with Citi Business News on Wednesday, October 2, noted that the ongoing geopolitical tensions between Israel, Hamas and Hezbollah in Lebanon could have a rippling eff

  Questions and Answers on the Ghana Gold Coin 1. What is a Gold Coin? Response: A gold coin is a coin manufactured primarily from refined gold. 2. What are the types of Gold Coins? Response: There are different types of gold coins in the market, but they all fall into two basic categories. 2.1 Bullion Coins: Bullion coins are made from refined gold. In most cases, they are manufactured and guaranteed by the government or a government entity. The most popular types of bullion coins include: • American Gold Buffalo • South African Gold Krugerrand • Australian Kangaroo • Austrian Philharmonic • Canadian Maple Leaf • American Gold Eagle 2.2 Numismatic Coins: Numismatic coins are collector’s items and of higher value than bullion coins. The value of numismatic coins value is based on the amount of gold they contain, their rarity and condition. 3. What is the Ghana Gold Coin (GGC)? Response: The GGC is a coin manufactured from responsibly mined gold from Ghana that has been refined to 99.99