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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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Minority cautions against more tax waivers for MPS

mps

The Minority in parliament is cautioning of a possible distortion to the scope of work on the Tema Port expansion, following calls for a downward review of the tax waivers granted Meridian Ports Services(MPS). The Tema Port Expansion project which is expected to be completed by 2019, has been plagued with controversy with calls for the original deal to be ...

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Textile dealers to bear cost of tax stamp

textile task

Textile dealers in the country have agreed to bear the full cost of the tax stamp being introduced by the Trade Ministry. The introduction of the stamp, which takes effect from September 1, was agreed on at a meeting between executives of the textiles companies and the Trade Minister, Alan Kyerematen, as a way to curb the influx of fake ...

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Poor data gathering affecting tourism industry—GTA

All-focus

The Ghana Tourism Authority (GTA) has said the poor level of data collection in Ghana’s tourism industry is negatively affecting the level of investment into the sector. Tourism currently ranks as Ghana’s 4th highest foreign exchange earner after gold, cocoa, and oil. Speaking to Citi Business News on the sidelines of the launch of the 2018 Guest Experience Masters (GEM) ...

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MTN launches its IPO today  

Group Vice President for Southern and East Africa and Ghana, Ebenezer Asante

MTN will today launch its Initial Public Offering (IPO) to allow it raise some amount of money from the public. The company is by this exercise give at least thirty-five percent access to the general public to own a stake in its operations. The move is also to allow the telecom company fulfill a regulatory obligation regarding the purchase of ...

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Govt calls the bluff of freight forwarders on UNIPASS

A Deputy Minister of Trade and Industry, Carlos Ahenkorah

The government has insisted that it will not be liable for any judgment debt with the introduction of the UNIPASS system at the country’s ports. The Ministry of Trade and Industry which signed on behalf of the government maintains that the new system is crucial for the blocking of all revenue leakages at the ports. The UNIPASS is expected to ...

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7.3m Ghanaians without financial account—World Bank report

fin acct

A new report released by the World Bank shows that 7,310,000 people in Ghana do not have any form of financial account. This means that more than 7 million Ghanaians do not have either a mobile money account or bank account to electronically receive and transfer money. According to the report titled “Gains in Financial Inclusion, Gains for a Sustainable ...

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FPSO shuts down for three weeks

The FPSO Kwame Nkrumah, in Ghana's Jubilee Oil field.

Operators of the FPSO Kwame Nkrumah on the Jubilee oilfields in the Western region, have from today May 28, 2018, shutdown the vessel temporarily. The shutdown, according to the Ghana National Gas Company is to allow for maintenance works on the turret bearing of the vessel. The shutdown is also expected to last for 21 days or three weeks. Per ...

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Unilever sells Blue Band Margarine

blue band

The Board of Directors and shareholders of Unilever Ghana have approved the sale of the company’s Blue Band Margarine business to KKR and Co as part of a global sale of all of Unilever’s spread businesses across the world. The sale amounted to 8.1 billion dollars. Unilever Ghana Limited has been producing Blue Band Margarine within its factory premises for ...

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UBI Group challenges LPG operators’ ‘false’ cylinder recirculation claims

Puma-Energy

UBI Group, the parent company of Puma Energy and Blue Ocean Investments has debunked claims of the LPG Operators Association that it is engaged in illegality in the country’s petroleum industry. In a statement copied to citinewsroom.com, UBI Group said contrary to claims by the LPG operators in their article published last week that Puma Energy was a foreign company coming ...

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