Kofi Ahovi

 By Toma Imirhe The Bank of Ghana’s Monetary Policy Committee (MPC) has retained the Monetary Policy Rate (MPR) at 14%, extending its pause in the monetary easing cycle as it weighs renewed inflationary pressures against resilient economic growth – but bank treasurers are anticipating marginal falls in both lending and deposit rates over the next fortnight despite the MPC’s decision last week. The unanimous decision, announced by central bank Governor and MPC Chairman Dr. Johnson Pandit Asiama on September 24 after the Committee’s 132nd meeting, represents the third consecutive MPC meeting at which the policy rate has been held at 14%. The Committee said the balance of risks to inflation and economic growth was “broadly balanced.” The decision comes despite inflation remaining substantially below the Bank’s medium-term target range of 8% ±2 percentage points (this being a range of between 6% and 10%). Headline inflation increased from 4.6% in July to 5% in August, but the MPC said ...

 Nestlé Ghana is putting families and children at the centre of its latest consumer promotion, with educational scholarships, bicycles and an electric family car among the prizes available under the new “MILO Energy To Start” campaign. The nationwide promotion, launched at Nestlé Ghana’s head office in Dzorwulu, Accra, is expected to reach more than 2 million consumers and families and offers prizes valued at more than GH₵5 million. The campaign reflects MILO’s longstanding association with children, learning, activity and family life, according to Nestlé Ghana. Launching the promotion, Category Manager for Beverages and Dairy, Nestlé MILO, Myron Otoo, said the initiative was inspired by the loyalty of Ghanaian consumers. For generations, MILO has helped fuel Ghanaian families with energy to learn, play and take on each day like true champions,” Otoo said. He described the promotion as one of the brand’s biggest consumer campaigns and said it was intended to give back to families t...

    Thirty young people from Newmont's 10 host communities in Ahafo have graduated from the company's Learnership Programme this year, bringing the total number of participants who have successfully completed the programme since 2023 to 99. The milestone reflects Newmont's continued commitment to developing local talent, building skills and creating opportunities for young people in its host communities. The Learnership Programme is one of several initiatives through which Newmont invests in local talent development and workforce readiness for young people in its host communities. Through technical training, mentorship, coaching, operational exposure and workplace experience, participants gain the skills and hands-on experience needed to succeed in a modern mining environment. Initially focused on Haul Truck Operations, the programme has since expanded to include Drill and Blast Operations and Process Plant Operations, creating broader pathways into the mining industry. Whi...

Newmont’s Ahafo North Mine has donated a brand-new Toyota Hilux pick-up valued at GHS 510,967 to the Ghana Police Service to support security operations within the Tano North Municipality. The donation follows separate requests from the Duayaw Nkwanta Divisional Police Headquarters and the Tano North Municipal Assembly for a vehicle to support municipal security services. The vehicle is expected to enhance the mobility and responsiveness of police personnel serving communities within the municipality.   Charles Bissue (right in Newmont uniform), General Manager – Ahafo North, handing over the key to the vehicle to Hon. Pius Opoku (left), the Tano North Municipal Chief Executive Speaking at the handover ceremony, Charles Bissue, General Manager of the Ahafo North mine, said the donation reflects Newmont’s commitment to supporting the security and wellbeing of its host communities through collaboration with state institutions and other partners. Safety and security are essential to t...

  Société Générale Group has reached an agreement with pan-African banking group Attijariwafa Bank to sell its majority stake in Société Générale Ghana. Under the agreement, Société Générale Group will divest its entire 60.22% stake in the Ghanaian subsidiary. Attijariwafa Bank will acquire a 55.22% stake in Société Générale Ghana, while the Social Security and National Insurance Trust (SSNIT) will acquire the remaining 5% stake. The transaction will result in Attijariwafa Bank becoming the new majority shareholder of Société Générale Ghana, subject to the completion of the transaction and the necessary regulatory approvals. As part of the proposed acquisition, Attijariwafa Bank will take over the activities currently operated by Société Générale Ghana, including its client portfolios and employees. The agreement is, however, subject to the fulfilment of customary conditions precedent and approval from the relevant financial and regulatory authorities. Once completed, the transacti...

Prices of petroleum products are expected to record marginal increases at the pump from October 1, 2026, driven by higher international oil prices and a depreciation of the cedi, the Chamber of Oil Marketing Companies (COMAC) has projected. The Chamber’s pricing outlook for the first pricing window of October indicates increases in the prices of petrol, diesel and Liquefied Petroleum Gas (LPG). According to COMAC, petrol prices could rise by up to 3.31%, potentially pushing the price to about GH¢17.91 per litre. Diesel prices are projected to increase by between 3.32% and 5.60%, with the price potentially reaching GH¢19.60 per litre. LPG is also expected to record an increase of about 2.25%, taking the projected price to approximately GH¢17.06 per kilogram. International oil prices COMAC attributed the expected increases largely to developments on the international oil market, particularly rising crude oil and refined petroleum product prices, as well as the depreciation of the cedi. T...