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Standards Authority to check cheating with new scales


By 2020, you should expect to have all products you buy on the market to be weighed to ascertain the correct weight of the product you take home. This is because the Ghana Standards Authority has indicated that it will soon begin the distribution of weighing scales to traders in various markets for the measurement of foodstuff. The move is ...

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GCB Bank’s profit drops by 29% in 2017

Ray Sowah - MD, GCB Bank

The profit of GCB Bank dropped by about 29 percent in 2017. The bank’s profit declined from 299 million cedis to an estimated 213 million cedis between 2016 and 2017. Meanwhile for the first three months of this year, GCB Bank’s financial report shows another drop in profits. The financial statement released by GCB Bank shows that even though revenue ...

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GNPC, Rosneft sign gas supply agreement

WhatsApp Image 2018-05-30 at 4.45.01 PM

The Ghana National Petroleum Corporation (GNPC) has signed a 12-year agreement with Rosneft, for the supply of natural gas to Ghana. The signing took place on the sidelines of the 26th St. Petersburg International Economic Forum, St. Petersburg, Russia. GNPC Board Chairman, Frederick Blay, signed on behalf of GNPC, with Igor Ivanovich Sechin, Chief Executive Officer and Chairman of the ...

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Energy Ministry pushes for increase local content in oil industry

Energy Minster - Boakye Agyarko

Energy Minister, Boakye Agyarko has given indication that the Ministry of Energy will focus on ensuring that more Ghanaians take advantage of investment opportunities in the petroleum sector. The local content and participation policy for the downstream sector was submitted to cabinet for consideration in 2017 and approved in 2018. But the draft policy is yet to be passed into ...

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Former BoG official denies EOCO invitation

Raymond Amanfu

A former Head of Banking Supervision at the Bank of Ghana, Raymond Amanfu has denied receiving an invitation from the Economic and Organized Crime Office (EOCO) over investigations into the collapsed UT and Capital banks. Media reports suggested that Mr. Amanfu has been asked to report to EOCO tomorrow in connection with his tenure at the Bank of Ghana. The ...

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Ghana Post officials train GNFS on Digital Address System


Some officials from the Ghana Post Office, initiators of the Ghana Post GPS address system, have interacted with some officials of the Ghana National Fire Service (GNFS). The purpose of the meeting was to enlighten the officers of the Fire Service on the importance of the digital address system, and how it will benefit the service. In addition, the meeting ...

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Total Petroleum Ghana holds AGM


Total Petroleum Ghana Limited, a leading oil marketing company in Ghana, has held its 42nd Annual General Meeting. Speaking to the shareholders on the financial and operational performance of the company, the newly elected Chairman of the board, Mr. Samba Salfal Seye, said that the consolidated profit after tax for the Total Group for 2017, amounted to GH¢ 32.63 million. ...

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Ghana lost GH¢1.9bn to illegal fuel trade in 2017 – Report

fuel tanker

The Chamber of Bulk Oil Distributors is blaming the persistent issues of illegal fuel trade on what it says is the weak commitment of security agencies in addressing the issue. A latest industry report by the Chamber said the illegal fuel trade cost the country some 1.9 billion cedis in 2017. The report cited three main factors as accounting for ...

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Advertising Association renews calls for speedy passage of Advertising bill


The Advertising Association of Ghana (AAG) is set to renew appeals for a speedy passage of the Advertising Bill. According to the association, passage of the bill will give them the legal backing to prosecute advertisers who flout industry rules. The Bill when passed, will lead to the setting up of an Advertising Council to ensure sanity in the industry. ...

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Gov’t officials complicit in illegal trade of petroleum products – Report

Senyo Hosi new

Government officials are reportedly complicit in the illegal trade of some petroleum products including premix. A 2017 report on the state of the petroleum sector put together by the Chamber of Bulk Oil Distribution (CBOD) said some government officials were complicit in the illegal trade of petroleum products. According to the report, the government has, over the years, also failed ...

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