In a recent move that has sent ripples through the international money transfer landscape, the Bank of Ghana (BoG) has suspended several prominent players, including Wise, Zeepay, and others. This suspension, driven by alleged violations of regulatory frameworks, has implications not only for the companies involved but also for customers who rely on these services … Read more
In a groundbreaking move towards sustainable transportation, Ghana’s Finance Minister, Ken Ofori Atta, delivered exciting news during a budget reading to parliament on November 15th. The announcement? A significant import duty waiver on electric vehicles (EVs) designated for public transportation. Key Details: Import Duty Waiver for Public Transportation EVs: Duration of Import Duty Waiver: Local … Read more
In a move aimed at bringing order and oversight to the burgeoning e-commerce and courier services sector, Ghana’s Ministry of Communications and Digitalisation has issued a directive impacting both new and existing operators. As of December 19, 2023, all e-commerce operators and their courier drivers are required to register with the Postal and Courier Services … Read more
The Kosmos Innovation Center (KIC) has officially opened the call for applications for the 2024 AgriTech Challenge Pro program. The nominations will be accepted until November 24th, 2023, for a program supported by the Mastercard Foundation through the KIC and Mastercard Foundation partnership. The collaboration aims to empower the next generation of young leaders and … Read more
In a bid to enhance cooperation and boost revenue through increased port operations, Sao Tome has expressed interest in utilizing Takoradi Port as a transshipment corridor for cargoes from other countries. This potential collaboration signifies a strategic move that could benefit both nations and deepen economic ties. Key Development Adelino Cardoso, the Minister of Infrastructure … Read more
The global cocoa market is poised for a significant upswing in the coming years, according to a recent market report by Allied Market Research based in Portland, Oregon. Driving Factors Rising Chocolate Demand Worldwide The report highlights the anticipated rise in market value, driven primarily by the increasing demand for chocolates worldwide, with a particular … Read more
Ato Essien, the former Chief Executive Officer of defunct Capital Bank, has been sentenced to 15 years of imprisonment with hard labor for failing to fulfill the terms of a plea bargain with the state. Essien pleaded guilty to 16 counts of stealing, money laundering, and conspiracy to steal in connection with the collapse of … Read more
In the latest edition of the 2023 Oxford Economics Africa Report, titled “The Africa Risk-Reward Index,” Ghana emerges as a significant player, securing the second position in Africa for the growth of mobile money services. This noteworthy standing places Ghana just behind Côte d’Ivoire in the continent’s mobile money landscape. The report highlights that the … Read more
Dash, the Ghanaian fintech trailblazer aiming to revolutionize cross-border payments for Africans by seamlessly connecting mobile money wallets, has officially closed its doors. The news of the startup’s shutdown broke through WeeTracker, signaling the end of its ambitious journey. Ambitious Beginnings Established in 2019 by Prince Boakye Boampong, Dash drew significant investor enthusiasm for its … Read more
Ghanaian agricultural marketplace, Complete Farmer, has successfully raised $10.4 million in a pre-Series A funding round, consisting of $7 million in equity and $3.4 million in debt financing. The equity portion of the funding round was co-led by The Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital, with participation from Proparco, Newton Partners, and VestedWorld … Read more