Author: Bobbie Osei
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25% of insurance claims in Ghana are fraudulent – NIC Boss
About 25% of all insurance claims made in the country are fraudulent, according to the Commissioner of Insurance, Dr. Justice Ofori. According to the 2019 Annual Report of the National Insurance Commission (NIC) average daily claims incurred by Non-Life Insurers in Ghana was GHS 1.4 million. Insurance fraud may fall into different categories, from individuals…
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Address poultry feed challenges now – Eric Opoku to government
The Ranking Member on the Food, Agriculture and Cocoa Affairs Committee in Parliament, Eric Opoku, wants government to immediately address challenges poultry farmers are currently facing with regard to access to feed for their chicken. The Greater Accra Poultry Farmers Association (GAFA) earlier this week said Ghana’s poultry industry risks collapse if the government fails…
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Surge in pirate attacks affecting our businesses – Ghana Tuna Association
The Ghana Tuna Association is warning that rising pirate attacks on vessels in Ghana’s territorial waters is likely to ward off investors interested in tuna and deep-sea fishing in the country’s waters and beyond. According to the ECOWAS Parliament, Ghana’s high seas are increasingly serving as an attractive destination for maritime pirates targeting commercial cargo…
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Ghana losing out over ENI, Springfield unitisation stalemate – Kwame Jantuah
The Oil and Gas sector Chairman at the Association of Ghana Industries (AGI), Kwame Jantuah says time is running out for the unitisation of the oil fields of both ENI Ghana and Springfield Ghana. The remarks come two weeks after a court presided over by Her Ladyship Justice Mariama Sammo partly agreed with Springfield and…
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You won’t lose your funds – BoG assures dormant account owners
The Bank of Ghana has debunked claims making rounds on social media that persons with dormant accounts will lose their funds if the accounts are moved to the Bank of Ghana after a period of inactivity. These claims come on the back of a recent directive issued by the Central Bank on unclaimed balances &…
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High cost of building materials will adversely affect rent – Construction Chamber
The Ghana Chamber of Construction Industry is warning that Ghanaians are likely to struggle to rent and acquire houses in the near future, if nothing is done to halt the unusual rise in the price of building materials. This follows calls made by former Deputy Finance Minister, Kwaku Kwarteng to Parliament, for the house to…
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Parliament must probe ‘unusual’ high cost of building materials – Kwaku Kwarteng
A former Deputy Finance Minister, Kwaku Kwarteng has charged Parliament to look into the reasons behind the recent hikes in the prices of building materials such as sand, stones, cement, iron rods and the likes. Some building contractors in the past few months have been lamenting the continuous toll the price hikes on building materials,…
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GSE likely to record first positive yearly return since 2017 – Analyst
A continuous easing of COVID-19 related restrictions will see the Ghana Stock Exchange (GSE) ending the year 2021 on a positive note, the first time since 2017. That’s according to the General Manager of UMB Stockbrokers, Ben Ackah. For the past decade, the Ghana Stock Exchange Composite index (GSE-CI) which reflects the average performance of…
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GSE returns 36% in Cedi terms to investors in first half of 2021
After recording negative returns from 2018 to 2020, the Ghana Stock Exchange has taken a strong positive turn, returning about 36% in Cedi terms for investors in the first half of 2021. During the same period last year, the stock exchange returned about -16% to investors. The strong performance can be attributed mainly to a…
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Bank of Ghana issues new directives on handling of captured ATM cards
Regulated Financial Institutions have been directed by the Bank of Ghana to among other things ensure that the replacement of ATM cards captured by Automated Teller Machines, due to technical issues among others, is done for free. This was contained in a document issued by the central bank on how payment cards captured in Automated…