Professor Thomas Akabzaa, Chief Direct of the Petroleum Ministry, has given an upbeat assessment of the nation’s oil and gas industry, saying, its’ future is promising. He said with the start of oil drilling at the second oil field – Tweneboa Enyenra and Ntonme (TEN fields), and the Sankofa Gye Nyame expected to come on-stream … Read more
Chief Director of the Petroleum Ministry, Professor Thomas Akabzaa, has given an upbeat assessment of the nation’s oil and gas industry, saying, its future is promising. He said with the start of oil drilling at the second oil field – Tweneboa Enyenra and Ntonme (TEN fields), and the Sankofa Gye Nyame expected to come on-stream … Read more
Following approval by Parliament, government has signed a loan agreement with the Export and Import Bank of India for the amount of $24.54 million for the Sugarcane Development and Irrigation Project. The funds will be used to finance the development of an irrigation system and facilitate the cultivation of sugarcane to feed the Komenda Sugar … Read more
Ghana has signed two separate loan agreements with the Export-Import Bank of India, totaling $422.87 million for financing the construction of a railway line and a sugarcane development and irrigation project. The first agreement of $398.33 million buyer’s credit will be used to finance the construction of 84.8 kilometre Tema to Akosombo railway line while … Read more
The Ministry of Finance has signed a three loan agreement with the German government for 40.82 million euros (approximately 176 million Ghana Cedis) of which 22.82 million euros soft loan (approximately 98 million Ghana Cedis) would be use to build a 12megawattz of solar power plant in Kalio in the Upper West Region. The second … Read more
Preparations towards the 2nd Ghana CFO Awards have reached its top gear, as Instinct Wave gets set to celebrate and honour Mona Quartey, the Deputy Finance Minister and other top finance experts on the 18th November 2016 at the plush Movenpick Ambassador Hotel. The Awards ceremony will recognize financial executives / teams whose outstanding leadership … Read more
President John Dramani Mahama has assured exporters that the expansion of the Ports of Ghana, both Tema and Takoradi is part of government’s efforts to expand infrastructure so as to blossom their business. The President in a speech read on his behalf by Mona Quartey, Deputy Minister of Finance at the 24th President’s national awards … Read more
President John Dramani Mahama has assured exporters that the expansion of the Ports of Ghana, both Tema and Takoradi is part of government’s efforts to expand infrastructure so as to blossom their business. The President in a speech read on his behalf by Mona Quartey, Deputy Minister of Finance at the 24th President’s national awards … Read more
Parliament has approved a 60 million dollar loan being procured by the government of Ghana for the Electricity Company of Ghana (ECG). The Agreement was passed amidst opposition from the Minority on concerns over the terms by which government will lend the money to ECG to implement the project, which is expected to extend electricity … Read more
A member of the Finance Committee of Parliament, Dr. Mark Assibey-Yeboah has questioned the GH¢1.9 billion to be expended on interest payments for the first quarter of next year, out of a total expenditure of GH¢10.9 billion. Dr. Assibey-Yeboah, who is also the MP for New Juaben South, comments follow Parliament’s authorization of government to … Read more
Deputy Minister for Finance, Ms Mona Quartey has underscored the importance of an efficient and transparent procurement system in ensuring the achievement of Ghana’s pursuits in economic development. The Deputy Minister said various surveys and studies had attributed the failure of procurement systems to achieve good value for money and economic growth within Sub-Saharan Africa … Read more
The Customs Division of the Ghana Revenue Authority (GRA) and its IT partner-West Blue Consulting have commissioned two electronic zone facilities at the Kotoka International Airport (KIA), and Tema port. The E-zone facilities which were set up as part of the Ghana National Single Window (GNSW) project will provide 24/7 customer services to exporters and … Read more
Ghana Revenue Authority (GRA), as part of the Ghana National Single Window Project, has established electronic payment zones at some major ports in the country. The e-zone facilities at Kotoka International Airport and the Tema Port is expected to facilitate payment of port charges and other services by exporters to the Authority, making it more … Read more
The National Democratic Congress parliamentary candidate for the Ningo-Prampram constituency, Sam George says claims that he is not loved by his people in his jurisdiction is unfounded. Speaking at the Ningo-Prampram NDC campaign launch Saturday, October 1, George said the untruths and false claims churned out by his opponents about him, will be laid bare … Read more
Mona Quartey, Deputy Minister of Finance, says the establishment of the electronic payment zone facility at the Kotoka International Airport (KIA) and Tema port will facilitate business transaction at the country’s ports for both importers and exporters. The electronic payment zone (e-zone), being deployed by the Customs Division of the Ghana Revenue Authority (GRA) and … Read more
The Finance Ministry says it is optimistic a meeting Wednesday by the IMF to decide release of the third installment of funds under the Extended Credit Facility will be favourable. A Deputy Minister of Finance, Mona Quartey, said progressive data on how government has performed under the programme so far was presented last week to … Read more
A Deputy Finance Minister, Mrs Mona Quartey, has repeated the government’s commitment to ensure transparency in the spending of the country’s oil and gas revenue to propel the growth of the economy. It will also use the funds to fight poverty. She indicated that the government would do everything within its power to make the … Read more
The Chief Executive of Petroleum Commission, Mr Theophilus Ahwireng has touted the prospects of the country’s gas production as it is set to produce about 300 million cubic feet of gas daily by 2018 from its oil and gas fields. “The good news here is that Ghana has an unyielding demand for gas in the … Read more
CitiBusinessNews.com can confirm the board of the International Monetary Fund (IMF) will meet tomorrow, September 28, 2016 to finalize on whether or not to approve the third tranche of funding for Ghana under the Extended Credit Facility (ECF) Programme. A Deputy Minister of Finance Mona Quartey who confirmed this to CitiBusinessNews.com said, Ghana last week … Read more
The Institute of Statistical, Social and Economic Research (ISSER) is cautioning cost of credit as well as inflation will shoot up in the coming months if there is a further delay in the release of the IMF bailout cash. ISSER argues, government’s decision to borrow more to meet expenditure like wages in an election year … Read more