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Sinapi Aba Savings and Loans, a micro-finance institution, is committed to investing and empowering more young female entrepreneurs in Ghana to be financially independent through its mentorship program. In the last four years since its inception, the Sinapi Aba Mentorship Program has trained nearly 2,000 young female entrepreneurs, equipping them with essential skills to stay buoyant in their respective vocations. The company is rolling out another batch of over 250 young entrepreneurs under its flagship program for economic growth.

The Sinapi Aba Mentorship Program seeks to enhance the entrepreneurial capabilities of small and medium-sized enterprise (SME) owners in Ghana as part of the company’s commitment to fostering economic growth and personal empowerment for women.

The sixth cohort of the program are being trained to gain critical insights into financial management, such as budgeting, pricing strategies, and securing loans for business expansion. The new cohort adds to the nearly 2,000 female young entrepreneurs who have benefited from the program since 2021. Chief Program Officer at Sinapi Aba, Joyce Dabo indicated that the program would expose participants to adopting new trends in business including digitalization in the 6-months of its roll-out.

“This year we are introducing the women to Digitalisation in business so that they’re able to know the current trend of business. So, they can adopt some of these strategies to boost their business,” she said. Women are reported to mostly settle for either micro or small-scale businesses, which experts believe stems from traditional notions of gender stereotypes.

Acting Head of the Gender Department in the Ashanti region, Ama Nyantah Boateng highlighted the gender imbalance and encouraged women to venture into bigger businesses.

“Women’s contributions to the economy can’t be downplayed. So, they must also know about Innovation. Most often they tend to leave the bigger businesses spaces to men. So, if the women can also go into these bigger ventures they will thrive just as much as the men will,” she said. Acting Director of the Ghana Enterprises Agency, Thomas Fofie advised women to take positive risks in their business to foster growth. “Risk is an eminent factor in business. So, in instances where a woman runs at loss after taking a loan, they can always go back to wherever they took the loan from and explains their situation and how they are restructuring to bounce back. The banks will be happier to receive them. So, they must take risks in their business,” he noted.

The training is running in three regions of the country, including Greater Accra, Ashanti and Eastern to enhance the livelihoods of upcoming entrepreneurs.

A beneficiary, Gloria Asafo Adjei recounts how the mentorship program has shaped her business.

“Enrolling on the program has really been helpful. They thought us how to treat our customers well and other financial literacy skills. Last year, I was a mentee, this year I am a mentor. I am ready to help other people raise their businesses,” she said.

Suspected robbers have invaded the Sokoban Krofrom Palace in the Ashanti Region, bolting with the traditional ‘black stool’ and other valuable items. According to Adumasa family members, some heavily built men stormed the Palace when the new chief and the other family members went to the Manhyia Palace to swear the oath of allegiance.

Before their return, the palace had been invaded, and the ‘black stool’ stolen. The “black stool” in Akan culture refers to a sacred throne, a revered symbol of authority, leadership, power, and spirituality, and is considered a sacred object that embodies the history, traditions, and values of a royal family. “We were here when six macho men surrounded the palace with machetes and guns to vandalize the metal gate of the palace and bolted with the black stool and other items,” they claimed.

Expressing their worries to Adom news, they said all the doors in the rooms of the palace were vandalised.

“Our old men who tried to confront them were beaten mercilessly, and we the women were in mourning as they took away our valuables,” one family member said.

The family members are in a state of fear, as they called on the security agencies to intervene. The police visited the palace as they launched an investigation into the matter.

The Ministry of Foreign Affairs has officially announced that the government of Burkina Faso has upheld its ban on exporting key agricultural commodities, including rice, millet, maize, sorghum, and white beans (cowpea). The restriction, first outlined in a joint communique dated December 19, 2023, prohibits the export of these goods beyond Burkina Faso’s borders.

A follow-up communique issued on November 13, 2024, reaffirmed that the ban remains in place, urging traders and buyers to comply with the directive. In response, the Ministry of Foreign Affairs has called on Ghanaian traders and businesses involved in importing these food items from Burkina Faso to adhere to the restrictions.

“We strongly advise all traders and businesses to adhere to this directive. The government of Burkina Faso has made it clear that this ban will continue, and failure to comply could result in serious consequences for those involved in the trade of these commodities,” the Ministry warned in a statement.

All stakeholders in the affected sectors have been advised to adjust their business operations and seek alternative sources for these commodities.

The decision is expected to impact regional trade, particularly Ghana, where these cereals and beans play a crucial role in the agricultural sector.

The Ministry assured the public that it will continue to provide updates and support to ensure full compliance with the directive.

The National Identification Authority (NIA) has announced the commencement of an initial issuance of the Ghana Card at its 276 operational district offices nationwide.

This initiative seeks to ensure that all citizens have equal access to the national identification system without financial barriers.

In a public notice, NIA stated that the service remains entirely free of charge.

However, first-time card issuance at its Premium Centres comes with a fee of GH₵310 in line with parliamentary approval granted in 2023.

The Authority has explained that this measure is intended to streamline the registration process while maintaining transparency regarding the costs associated with different services.

Additionally, the cost of replacing a lost or damaged card has been set at GH₵125, while updating personal records along with card replacement will require GH₵420.

The NIA has further outlined charges for other services, including nationality updates, which will cost GH₵70. Meanwhile, general record updates will remain free of charge at district offices but will cost GH₵310 at Premium Centres.

Ghanaians have therefore been urged to take advantage of the free issuance at district offices to avoid unnecessary expenses.

Deputy Minister-Designate for Food and Agriculture, John Dumelo, has emphasized the need for better cocoa pricing to prevent farmers from leasing their lands to illegal miners. Speaking during his vetting before Parliament’s Appointments Committee on Tuesday, February 25, Dumelo highlighted the growing trend of cocoa farmers surrendering their farms to illegal small-scale miners in exchange for large sums of money.

The Ayawaso West Wuogon legislator stressed that many farmers feel compelled to sell their lands due to the low prices offered for cocoa in the country.

He argued that providing farmers with competitive pricing would encourage them to protect their farmlands rather than seek financial alternatives through mining deals.

“Giving cocoa farmers the right price will deter them from selling their cocoa farms,” Dumelo stated.

He further called for stricter regulations in the mining sector to prevent destructive activities that negatively impact agriculture.

“The second one is also to restructure or structure the whole mining industry well so that wherever they mine, it wouldn’t be able to affect these cocoa farms. But I think that the main one is about pricing,” he added.

Republic Bank (Ghana) PLC has appointed Jonathan Prince Cann as its new Board Chairman, effective February 20, 2025, following approval from the Bank of Ghana. Jonathan Cann succeeds Mr. David Addo Ashong, who has served in an acting capacity since August 2023. His appointment reaffirms the bank’s commitment to strengthening corporate governance and driving sustainable growth in the financial sector.

His extensive expertise will also be instrumental in guiding the Bank’s strategic direction, reinforcing its position as a market leader, and supporting its long-term vision of financial inclusion and economic development in Ghana. Speaking on the appointment, the Managing Director of Republic Bank (Ghana) PLC, Mr. Benjamin Dzoboku, stated: “We are delighted to welcome Mr. Jonathan Prince Cann as our new Board Chairman. His leadership and industry experience will be invaluable in driving the Bank’s growth and enhancing our value proposition to customers, shareholders, and stakeholders.”

Mr. Jonathan Cann is an astute Management Consultant specializing in Governance, Risk Management and Compliance (GRC). He also specializes in Organizational & Business Development including supporting SMEs and other corporates in structuring, restructuring, and developing management systems and capacities across industries. He is a Chartered Accountant by profession and holds an MBA in Financial Services from the University of East London (UEL) and a Bachelor of Commerce (BCom) from the University of Cape Coast (UCC), Ghana. He holds several professional certifications in ISO Standards and Risk Management.

Jonathan is the founder and Managing Director of JPCann Associates Limited and its subsidiaries.

He brings a wealth of experience and strategic leadership to the Republic Bank (Ghana) PLC Board which he joined in June 2024 and served as Chairman of the Audit Committee.

Republic Bank extends its profound gratitude to Mr. David Addo Ashong for his exceptional leadership and dedication during his tenure as Acting Chairman as his contributions have been pivotal in the Bank’s continued success.

The appointment of Jonathan Cann highlights a new chapter for Republic Bank, as it remains dedicated to executing its recently introduced five-year strategic plan, “Republic Verse” with a focus on innovative financial solutions, expansion and sustainable growth.

Dr. Johnson Asiama, the newly sworn-in Governor of the Bank of Ghana (BoG), has outlined plans to reverse the Central Bank’s negative equity position following recent financial losses. Speaking at his swearing-in ceremony on Tuesday, February 25, 2025, Dr. Asiama stressed that restoring the Bank’s financial health is critical to maintaining stability, credibility, and public trust. “My sixth and last priority area is the need to reverse the Bank of Ghana’s negative equity position or the losses that have been incurred in recent years all to maintain financial stability, maintain the institution’s credibility, and restore public trust,” Dr. Asiama stated.

The Bank of Ghana recorded significant losses in recent years, largely due to debt restructuring measures and broader economic challenges. The Governor underscored the urgency of addressing this situation through a combination of cost-cutting measures and strategic financial policies.

“In this vein, we will seek to re-examine the Bank’s non-core operations, and I must say that some of these have started already in the last two weeks where savings could be made. We shall adopt several austere measures to help reduce the Bank’s operational costs and achieve cost efficiency,” he explained. As part of the efforts to restore the BoG’s financial position, Dr. Asiama revealed that clear policies would be put in place to ensure a structured return to positive equity in the medium term. “We will craft very clear policies to return the Bank of Ghana’s negative equity to positive equity in the medium term,” he assured.

The Bank of Ghana, in its 2022 Published Annual Report and Financial Statements, reported a loss of GHC 60.8 billion largely attributed to the impact of the domestic debt exchange programme, which significantly impaired the bank’s balance sheet.

This development has raised concerns among economic stakeholders about its potential long-term impact on the economy

The BoG has severally defended its position, stating that despite the losses, it remains solvent and capable of performing its mandate. Former Governor, Dr. Ernest Addison also indicated that the bank’s financial position will improve as economic conditions stabilize.

Meanwhile, Deputy Finance Minister-designate Thomas Nyarko Ampem during his vetting has ruled out using public funds to recapitalize the Bank of Ghana.