Chris Infotainment

Financial Challenges and Operational Struggles The Volta River Authority (VRA) has experienced a significant shift in its financial performance, recording a loss of GH₵106 million for the 2024 financial year. This marks a sharp contrast from the GH₵80 million profit reported in 2023. The authority attributes this downturn primarily to severe foreign exchange losses and the reallocation of power that was originally intended for export to meet local demand. At the 15th Stakeholder Interface Meeting in Accra, Board Chairman-VRA Jabesh Amissah-Arthur described 2024 as a particularly challenging financial year. He highlighted that exchange rate volatility led to a massive forex loss of GH₵695 million, up from GH₵591 million in 2023. This loss significantly impacted the authority’s performance. This challenge was further exacerbated by the inability of Independent Power Producers (IPPs) to meet local demand at certain times. As a result, the Public Utilities Regulatory Commission (PURC) d...

Financial Performance and Growth Manya Krobo Rural Bank PLC, located in Odumase within the Manya Krobo Municipality of the Eastern Region, recently held its 44th Annual General Meeting (AGM) of shareholders. The bank delivered an impressive performance across all financial indicators for the 2024 year under review. The bank recorded a profit before tax of approximately GH¢6.5 million for the 2024 year, which is a significant increase from the GH¢4 million recorded in the previous year. This represents a growth of 63%, showcasing the bank's robust financial health. The growth was driven by an increase in total assets, highlighting the operational efficiency and capabilities of the Board and Management. The Board of Directors commended the management and staff for their remarkable performance, particularly the GH¢2.5 million profit growth. They have urged the team to continue working diligently to further enhance the bank’s profitability and maximize returns for shareholders. Di...