Among the various types of fraudulent activities recorded in banks in Ghana in 2023, five stood out and came atop. They were; cash theft, cyber/email fraud, fraudulent withdrawals from accounts, forgery and manipulation of documents, and cheque fraud. Of the five, cash theft emerged as the topmost fraud recording a loss value of GH¢14.8 million […]
Ghana has lost more than a third of its 2023/24 cocoa output to smuggling, a top official from the cocoa marketing board (Cocobod) told Reuters, as low local prices and payment delays push some farmers to sell to increasingly sophisticated trafficking rings. Poor harvests in Ghana and Ivory Coast, the world’s second-largest and largest producers, […]
Some Oil Marketing Companies (OMCs) have started reducing prices of petroleum products at the pumps from today, September 16, 2024. Star Oil Ghana is selling a litre of petrol at GH₵12.55, indicating a one cedi drop. This represents a 7.9 percent decline. The company is also selling a litre of diesel at GH₵13.27. This represents […]
In a landmark event, the Asantehene, Otumfuo Osei Tutu II, paid a historic visit to COA Research and Manufacturing Limited Company, a leading pharmaceutical company in Ghana. The visit, which took place on Sunday, September 8, 2024, marked a significant milestone in the company’s history and reinforced the strong bond between the Asantehene and the […]
Staff groups of the Volta River Authority (VRA) have voiced their opposition to a draft bill proposing the merger of VRA with the Bui Power Authority. The proposal in question will also see the consolidation of the Electricity Company of Ghana (ECG) with the Northern Electricity Distribution Company (NEDCo), and the creation of an independent […]
Government will increase the state-guaranteed price paid to its cocoa farmers by nearly 45% for the 2024/25 crop season, two sources with knowledge of the price review told Reuters. This according to the sources aims to help boost their incomes and deter bean smuggling out of the country. The world’s number two cocoa producer raised […]
The Bank of Ghana has responded to concerns raised by Samuel Okudzeto Ablakwa regarding a $20 million transfer, which the Member of Parliament claimed lacked consistent documentation. In a statement issued on Wednesday, August 28, the central bank criticised the legislator for his allegations, noting that the funds were intended for the Central Bank of […]
The U.S. Embassy in Accra has transitioned to a new visa services provider as of August 26, 2024, marking a significant shift in the way visa services are managed. Access to the previous visa service provider’s website and services officially ended on August 16, 2024. The Embassy has assured all applicants that existing nonimmigrant visa […]
The Minister of State at the Ministry of Energy, Mr Herbert Krapa, has charged the staff and management of the Electricity Company of Ghana (ECG) to expedite action on addressing the concerns of customers in order to win back their trust. He explained that when consumer complaints were not adequately and promptly addressed, it led […]
The Accra Mall, West Hills Mall and Kumasi City Mall have been taken over by a South African real estate investment firm, Lango. This follows the completion of a new transaction deal worth more than US$200 million. The move is part of decision by Lango to enter more African markets with its retail business strategy. […]
The Ghana Cocoa Board (COCOBOD) spent almost a billion Ghana cedis last year to rehabilitate aged cocoa farms and those ravaged by swollen shoot virus disease (SSVD) to help increase national production in the short to medium term. The money was used to fund the cutting down of diseased and aged cocoa trees, nursing and […]
The country’s economic figures stand in sharp contrast with the daily economic hardships faced by citizens, the Institute of Statistical, Social, Economic and Research (ISSER) has observed. It said although the country’s total income distributed per person, also known as per capita income, had increased by $386 from $1,979 in 2016 to $2,365 in 2023, […]
