Ghana will double crude production by 2017 as offshore deposits being developed by Tullow Oil Plc and Eni SpA start producing oil, Minister of Energy Emmanuel Armah-Kofi Buah said. Tullow’s TEN development will produce about 80,000 barrels a day by then, the minister said by phone today. Eni’s Sankofa Gye-Nyame deposit will pump 50,000 barrels, … Read more
Lukoil-Overseas said it found oil and gas at its Cape Three Points Deep Water block off the coast of Ghana, and according to the energy minister, it now has a 90-day test period to determine whether the find is commercially viable. The company started drilling in May and found several layers with what it described … Read more
August was an exciting month for a number of African companies, with a batch of funding rounds, acquisitions and new product offerings. Funding and acquisitions International voice messaging company Kirusa acquired Ghanaian instant messaging (IM) app provider Saya Mobile. Saya Mobile provides services specifically for African consumers, but Kirusa has now acquired the technology, intellectual … Read more
Honorable Seth Terkper, Ghana’s Minister for Finance and Economic Planning has come under severe barrage for the flailing Ghanaian Economy and continuous devaluation of the Ghanaian Cedi. The role of a finance or economy minister is a precarious one for every public servant who assumes that office, as the viability of the long and short … Read more
According to reports reaching us from the daily graphic, Ghana will soon boast its own airline as the Ministry of Transport has signed a memorandum of understanding (MOU) with PWC Ghana and the World Bank for the commencement of the Technical Advisory Services. The Technical Advisory Services would involve the undertaking of various business studies, … Read more
The World Bank has praised Ghana for what it calls the enviable growth of the country’s economy in terms of development over the past ten years. According to the World Bank, Ghana’s significant growth is as a result of strong governance systems, increased in productivity and the discovery of oil in recent years, ranking Ghana … Read more
The Ministry of Roads and Highways last year generated an amount of Gh¢49.06 million from 35 toll stations and a ferry station at Ada. The Ministry, as at the end of June 2014, had collectecd Gh¢ 27.8 million at 38 stations, including the Ada and Senchi Ferry stations. Alhaji Inusah Fuseni, Minister of Roads and … Read more
StarrFMonline.com is reporting that Ghana has been listed as a client by the international lobby firm, Jefferson Waterman International. The American – based lobbyist is reputed for the strategic representation and promotions of multi- national companies and countries in the international arena. Ghanaian based policy think tank, IMANI, in a statement on Sunday, alleged that … Read more
The Board of Export Trade, Agricultural and Industrial Development Fund (EDAIF), in June and July this year, approved GH¢ 57.1 million in grants and credit to 28 cooperatives, companies and public institutions. Among the beneficiaries were 15 small-holder cooperatives and associations, eight companies and five public institutions, said Dr Barfour Osei, Chief Executive Officer of … Read more
The government has denied claims that the supply of some petroleum products could be affected this week. Deputy Energy and Petroleum Minister, Benjamin Dagadu explained to Joy News that the challenge has been with the distribution pattern of the commodity and not necessarily the government’s supposed indebtedness to the distributors. He said “As at Friday, … Read more
The Bolgatanga District branch of the Small Tax Office (STO) of the Ghana Revenue Authority (GRA) collected a total revenue of GH¢3,298,880.36 as at the end of May this year as against its target of GH¢2,937,440.00. This exceeded its set target by 34.14 per cent as against a shortfall of 1.7 per cent during the … Read more
Tigo Ghana has been appointed Gifty Bingley as the head of Corporate Communications function. Bingley will be responsible for the company’s corporate communications and initiatives including: internal and external engagements and corporate responsibility. Bingley joined Tigo from Vodafone Ghana where she managed the internal and external communication teams. Prior to that, Bingley worked at the … Read more
The U.S.-Africa Leaders Summit ended this week with African countries and American taking a big first step toward a future of stronger economic ties. But it will require hard work and dedicated leaders to keep people committed to Africa’s advancement, says Ghana’s Minister of Foreign Affairs Hanna Tetteh. The summit was part of an Obama … Read more
The Director-General of the Ghana Ports and Harbours Authority (GPHA), Mr. Richard Anamoo, says a Greek Oil vessel, MT Fair Artemis, hijacked by pirates off Ghana’s waters in June this year has finally berthed at the Takoradi Port to offload oil. He said the pirates siphoned 3,500 metric tonnes of crude oil from the vessel … Read more
President John Dramani Mahama has described as timely, the signing of the second compact of the Millennium Challenge Corporation. The signing will see the release of $498 million to Ghana which government says will be channeled into the country’s power sector. The $498.2 million will support the transformation of Ghana’s electricity sector and stimulate private … Read more
Ghana’s Central Bank has reviewed the directives it introduced some months ago to shore up the local currency against the dollar and other major foreign currencies. The directive, among other things, placed a limit of $1000.00 on over-the-counter foreign exchange cash withdrawals at the country’s banks. In a statement announcing the review, Friday, the Bank … Read more
Ghana and the United States have signed an agreement for the release of the $498,200,000 grant meant to improve power distribution in the country under the second compact of the Millennium Challenge Account. President John Mahama and US Secretary of State, John Kerry looked on as Ghana’s Finance Minister Seth Tekper and CEO of the … Read more
More than 700 workers of the Volta River Authority (VRA) are expected to be laid off in October this year. The affected staff work in the non-core business departments of the VRA, which have been restructured. The non-core business departments of VRA are Real Estate or Town Management, Akosombo International School and the Akosombo Hospital. … Read more
The Ghana Police Service has announced that it is resuming the recruitment of individuals into the service. A statement signed by the Director-General, Public Affairs of the service, DCOP Rev. David N. Ampah-Bennin said preference will be given to “the backlog of candidates standing by from the 2012 recruitment exercise that, it has resumed processing … Read more
President John Dramani Mahama has dismissed assertions that the government sought a bailout from the International Monetary Fund (IMF) due to the failure of its home-grown solutions. He explained that government made the decision because there was the need for policy credibility and confidence from the international financial institutions to restore economic stability and growth. … Read more