The Ghana Cocoa Board (COCOBOD) signed a loan agreement in September last year with 25 banks to borrow US$1.3billion. The facility was critical in COCOBOD’s pursuit to purchase a total of 850,000 tonnes of cocoa from farmers for the crop season.
Amid fears that the loan cannot be repaid, the...
Identity fraud and fraudulent transactions are major risks in the global banking system, and that is why financial institutions go to great lengths in trying to insulate banks from cybercrime and other fraudulent activities.
In fact, PwC’s Global Economic Crime Survey 2016 revealed that cybercrime has now jumped to the second...
It appears the central bank is not taking its oversight responsibilities lightly in the wake of the scandal that hit the microfinance sector in recent times, roughly two years ago. The new Head of Other Financial Institutions Services Department (OFISD) of the BoG, Kofi Amoa-Awuah, says his outfit has...
There is very little doubt that Ghana, based on its positioning near the equator, is endowed with abundant solar resources. That is why it is particularly unfortunate that as a country we have not been able to exploit solar potentials to meet our growing energy needs - even as...
Professor Joshua Yindenaba, Dean of the University of Ghana Business School (UGBS), has shown great initiative by asking academia not to wait for industry to act first, but must rather initiate the process of bridging the industry-academia divide.
A lot of businesses in the country have had cause to complain...
Over the past five years, the country’s microfinance sector has been under severe stress, owing to the collapse of some Microfinance institutions in the Brong Ahafo and Northern Regions. Similar closures happened in the Volta and Greater Accra Regions.
There have been several reports of MFIs closing down and running...
By the year 2050 Africa’s youth population is projected to be a little over 840 million, making it the continent with the youngest population on earth. The issue was raised by at a two-day consultation at the African Development Bank’s headquarters in Abidjan.
Though it is recognised that the growing...
The Ghana Revenue Authority (GRA) is determined to clamp down on tax defaulters, be they business entities or private individuals, as soon as the tax amnesty expires.
The amnesty expires at the end of third quarter this year (2018) and the GRA is aiming to pursue all defaulters and expose...