Importers and Exporters Association of Ghana unhappy with custodial sentencing clause in Insurance Act 2021

aerial photography of container van lot

The Importers and Exporters Association of Ghana has raised concerns over a custodial sentencing clause in the Ghana Insurance Act 2021. The law prescribes a jail sentence for importers who do not comply with the mandatory Marine Insurance Policy. The association believes the law is not business-friendly and counterproductive hence must be removed from the … Read more

Biggest cocoa harvest in decade spurs record debt sale

man hand fruit cocoa

The biggest cocoa harvest in a decade is spurring record domestic borrowing by the industry regulator of the world’s no. 2 cocoa producer. Ghana Cocoa Board has sold 11.7 billion cedis ($2 billion) of six-month bills between January and May, the most in the five-month period since at least 2011, when Bloomberg started keeping records. … Read more

Interest payments in Ghana have overtaken money generated in the domestic economy by 24.4 percent in Q1

silver and gold coins

Interest payment on debt, together with compensation of government employees has overtaken money generated in the domestic economy by 24.4 percent in the first quarter of the year, the Central Bank’s first quarter statistical bulletin data has revealed. According to the data, the country generated GH¢12.5 billion from the domestic economy as of first quarter … Read more

MTN MoMo customers in 2020 were saved GHS94 million

Last year was a tough one for all of humanity with the world being ravaged by the raging COVID-19 pandemic. As commercial activities slowed down or in some cases completely ground to a halt in the wake of lockdowns and other such necessary restrictions, many people’s economic strengths took a hit. Ghanaians were not spared … Read more

Government T-Bills undersubscribed after meeting target last week

Government T-Bills undersubscribed after meeting target last week

Government T-Bills undersubscribed after meeting target last week. After meeting its T-bills sale target for the first time last week since the middle of March 2021, the government has once again returned to the trajectory of under-subscription, signalling low money in circulation. The government was looking to mobilize GH¢791 million for the 91-day and 182-day … Read more

Mobile money vendors explore more protection from telcos

When the first Mobile Money service was launched in Ghana in 2009, the market probably wasn’t ready for full mobile financial services. Around 70 percent of the population was unbanked, that’s according to the World Bank, and only an estimated 35 percent of the population owned a mobile phone. However, the urban-rural divide was a … Read more

The OpEx Prize Competition holds successful pitching session

The OpEx Prize Competition successfully entered its third phase of Aptitude Testing, Pitching & Judging on the May 18-19, 2021. Twenty-four (24) applicants out of the over one hundred and thirty (130) young Ghanaians who applied were invited and given the opportunity to pitch their ideas to a panel of judges via virtual and physical … Read more

UBA supports the Ghanaian creative art industry with US$100,000

United Bank for Africa Ghana Ltd. has contributed over US$100,000 to the Ghanaian creative art industry through the production of a 13-episode Ghanaian series titled The Public Figure. The bank’s lifestyle and entertainment channel, RED TV premiered the Ghanaian series on its YouTube channel on May 19, 2021. The official premiere of the series took place at … Read more

AfCFTA is a game changer for Ghana’s post-covid-19 economic recovery – Alan Kyerematen

The African Continental Free Trade Agreement (AfCFTA) could be considered as the game changer for the post COVID economic recovery and transformation of Ghana, Trade and Industry Minister, Alan Keyermaten has said. According to him, the country can achieve that if it harnesses the numerous benefits of AfCFTA. To harness the benefits of AfCFTA, the … Read more