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Ghana’s oil production estimated to go up substantially

Dr. Mohammed Amin Adam - Deputy Minister of Energy

Aker Energy ASA has confirmed a significant offshore resource base in Ghana and has committed to scale up new development in the Deepwater Tano Cape three points block (DWT/CT). A Government of Ghana delegation led by Finance Minister, Honourable Ken Ofori-Atta, Wednesday announced to investors in Oslo, Norway, that overall crude oil production from Ghana was expected to more than ...

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GCAA starts investigations into extortion, coercion at KIA

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The Ghana Civil Aviation Authority (GCAA) has commenced an investigation into some reported extortion of money on passengers at the Kotoka International Airport(KIA). The authority described the alleged acts as highly unprofessional, unethical and unacceptable. A statement copied to Citi Business news assured that the Ghana Airports Company Ltd has been directed to put in measures to curb such practices. ...

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Communications Ministry, other parties to sign MoU on MoMo data to Kelni GVG

Ursula Owusu Ekuful - Communications Minister

The Communications Ministry says it has reached an agreement with the Finance Ministry, Bank of Ghana and the National Communications Authority on which aspects of mobile money data will be released to Private Contractor, Kelni GVG. The Communications Ministry last year requested that the BoG released volumes and values of mobile money transactions to Kelni GVG to enable the company ...

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Rating agency Fitch confident of Ghana hosting VW plant

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Ratings Agency Fitch says Ghana has the required infrastructure to welcome Germany manufacturing car company VW to fully operate in the sub region. Per a report by the ratings Agency, Ghana is developing quickly and at a fast pace which only goes to show that VW will be better placed in the country. According to Fitch, VW’s target markets, Ghana, ...

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New regions; GSS collating data on inflation  

Acting Government Statistician, David Kombat

The Ghana Statistical Service (GSS) has revealed that it is working closely with the Ministry for Regional Reorganization and Development to get the needed data, in order to calculate inflation figures for the newly created regions. According to the Acting Government Statistician, David Kombat such figures will be made available in the medium to long term. So far President Akufo-Addo has presented ...

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Val’s Day: Consumption of locally made chocolate still low as Ghana marks ‘Chocolate Day’

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The consumption of locally made chocolate remains low despite the celebration of the National Chocolate Day for over a decade. According to the Cocoa Processing Company(CPC), Ghanaians consume only 400 grams  of chocolate daily compared other developed countries that consume twice the number. In Ghana, the Val’s Day is called the National Chocolate Day with the aim of increasing local ...

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PEF bemoans delays  in permit acquisition for businesses

Nana Osei Bonsu - CEO, PEF

The Private Enterprise Federation (PEF) has stated that businesses will be able to acquire permits and other relevant documents faster and easier with the completion of its draft Service delivery charters. According to PEF, most businesses face a major issue of permit acquisition delays which stifles their productivity. A research work commissioned by PEF revealed that there were undue delays ...

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Tullow PLC to increase oil production in Ghana as its revenue surges

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Tullow Oil Plc has announced an increase in revenue for its 2018 operations. The company’s revenue increased to $1.9 billion in 2018 compared to 1.7 billion dollars in 2017. There more in this news desk report. In a financial statement released by the company, Tullow PLC recorded a profit after tax of 85 million dollars in 2018 compared to 175 ...

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Inflation for January drops to 9%; lowest in 5 years

ghana-market

Ghana’s inflation reached its lowest in five years for the month of January. Inflation rate dropped to 9 percent, from the 9.4 percent recorded in December 2018. The rate of 9.0% is the lowest since January 2013. The drop was largely consistent with the inflation trend recorded in January for the last 5 years. The announced inflation figure means that ...

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GRA seizes drinks without tax stamps at Makola

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The Ghana Revenue Authority (GRA) has seized several packs of Non-alcoholic drinks without tax stamp from retail shops around Makola in the Central Business District of Accra. The move, according to the GRA is to improve tax compliance among retailers. The task force visited various shops unannounced to ascertain the level of compliance of the tax stamp policy. In all, ...

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