B&FT – US$2bn honey market eludes beekeepers.


With healthy living campaigners advocating it as a healthier replacement for sugar, global demand for honey is on the rise, but lack of investment has kept gains out of the reach of Ghana’s beekeepers.

The industry’s value, globally was estimated at US$2.2 billion in 2016, up by an average 27.1 per cent for all exporting countries since 2012, when natural honey shipments were valued at US$1.8 billion.

Whilst a lot of multinationals use honey  to make cosmtic products such as skin care lotions, soaps, and lip balms, a lot health conscious people are replacing sugar with honey in their tea and other meals.

UMB unveils 45th anniversary logo

The 45th anniversary celebration of the Universal Merchant Bank (UMB) a full service financial institution specializing in customized banking products and services, has been launched, with a commitment to deploy relevant customer services in the Ghanaian banking space.

At a colorful ceremony to unveil the anniversary logo at the Bank’s Head Office in Accra, John Awuah, the Chief Executive officer of UMB expressed the bank’s excitement in delivery superior products and growing businesses during its 45 years of banking operations.

Cost of credit remains above 30 per cent

The average interest charged by commercial banks on loans and advances fell marginally to about 33 per cent while the average interest banks paid on deposits also fell to 10.9 per cent, data from the Central Bank has shown.

The downward movement in the cost of credit albeit marginal, comes after major drivers of interest rates continue to trend downwards.


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