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CalBank’s impressive deposit expansion can be attributed to its digital transformation efforts.

Speaking at the E-Jobs4All Development Summit held October 22-27 at Accra’s International Conference Centre, Mr Nyaletey highlighted the importance of long-term investment in local entrepreneurs to foster sustainable quality and global competitiveness.

The life insurance sub-sector led the way, with investment assets reaching GH₵7.0 billion by the end of December 2023, more than double the GH₵3.5 billion held by the non-life segment.

In the current economic climate—marked by inflationary pressures and a depreciating currency—these levies are seen as critical sources of revenue.

In its recently published State of the Ghanaian Economy Report 2023 and Q3 2024 Review, ISSER suggests that a simplified tax structure could streamline compliance, ease administrative burdens on businesses, and potentially improve tax collection.

According to the bank’s unaudited Q3 2024 financial statements, ADB’s profit after tax also climbed dramatically, hitting GH₵111.827 million compared with GH₵2.040 million for the same period in 2023.

“We admonish the government not to overspend, especially with 2024 being an election year,” ISSER stated in its latest State of the Ghanaian Economy report.

Our growth prospect remains positive,” Prof Quartey said, adding that Ghana could surpass the IMF’s latest 4% forecast with effective fiscal oversight.

With Ghana currently spending around $400 million monthly on fuel imports from Europe, Dr. Hamid expressed optimism that accessing Nigeria’s production could cut costs.

This adjustment suggests a cautious pivot by insurers, responding to the DDEP’s financial impact.