Entries by Ghanacompares


None of Ghana’s commercial trains in operation are insured

None of Ghana’s commercial trains in operation are insured, TV3 can confirm. This is because the laws establishing the motor vehicle insurance do not make it compulsory for commercial trains to be insured unlike commercial and private vehicles. The Motor Vehicle Third Party Insurance Act (Act 42) of 1958 Motor Vehicles (Third Party Insurance) makes insurance of trains optional. This means passengers who use the trains to commute from Tema to Accra and Nsawam to Accra daily risk their lives in the event of any injury in the event of any accident. On Monday an Accra-bound train from Tema derailed at Tesano, injuring four persons who have since been treated and discharged. Government announced Tuesday that it would pay for the medical bills of the victims of the accident but did not say if they will be given any compensation. A three-member has meanwhile been set up to look into what caused the Accra-bound train from Tema to derail as well as make recommendations on how to prevent further future incidents. Speaking to Wendy Laryea Tuesday on TV3 Midday Live Tuesday, Managing Director of GLICO, Alfred Yaw Ofori – Kuragu, confirmed the country’s trains have not been insured, though there are several insurance policies available for the railway sector. “The insurance [for trains] is not compulsory apart from motor. It is now that the National Insurance Commission is trying to make other forms of insurance compulsory,” he stated. Mr. Ofori-Kuragu said the insurance companies have policies for insuring train rail lines, the coaches of trains, the employees and even passengers “but unfortunately, they don’t have any insurance”. He said he has engaged the Ghana Railways Company to insure its trains when the Accra-Tema rail line was opened, but “they always talk about funds; they don’t have money to pay trillions. “I must say that if you’re in the train and you got injured then you have to go to the railway authorities for compensation because as for the insurance, it is not compulsory but the compensation is compulsory,” he explained. Mr. Ofori-Kuragu said he has held discussions with the Minister […]

GhanaCompares.com Wins Dutch Business Booster

Growing Business Together (GBT), a Dutch government funded initiative which seeks to support early stage entrepreneurs – had last Friday a successful pitch event at the Netherlands Enterprise Agency in The Hague.  Other implementing partners are iMPACT Booster of the Netherlands, and the Ghana Netherlands Business and Culture Council. The 16 entrepreneurs pitched their business case in front of over 60 people and a grand jury. The winner, Nii-Nmai Dsane (GhanaCompares) will attend the Investors Conference in Accra, Ghana in October. The winner, Nii-Nmai Dsane, founder of Ghanacompares.com took home the ultimate prize: a ticket to Ghana to attend the GBT Investors Conference in Accra in October. The jury praised Ghanacompares.com, a comparison website for insurance, financial and broadband for the Ghanaian market. “GhanaCompares has the potential to be a real game changer and to bring transparency to the Ghanaian market” shared the jury. Runner-up was Adriaan Brouwer, founder of Fanka Bar, a nutritious snack made of soy bean, ground nut and coconut. And a close third came Benedicta Nkansah, founder of Maxim Nyansa, an organization that trains IT graduates to start their career. Source: GBT and Impact Booster