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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

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    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

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    Gov’t to commence talks with IMF for bailout

    Financing agric sector alone not enough to grow it – GIRSAL CEO

    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

  • TECHNOLOGY

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    BoG, CSA deepen collaboration to fight cyber threats

    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

    Chamber of Telecommunications calls for more investment into Technology to improve livelihoods

    Citi Business Festival: Address lack of financial data challenges using MoMo – Rufai Abdul Majeed

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    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

    Modern airline tickets design with flight time and passenger name. Plane tickets vector pictogram. Airline boarding pass template. Vector illustration. The concept of air transportation

    Ticket prices to rise following B.A schedule change on Accra-London-Accra route

    Bawumia calls for more AfDB support as African economies battle global challenges

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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Govt’s lack of political will killing TOR – K.T Hammond

bycitibusinessnews
August 11, 2014
in Business, Top Stories
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A former Deputy Minister of Energy and Member of Parliament for Adanse Asokwa, K.T Hammond has said the Tema Oil Refinery (TOR) is not working because the government lacks the political will to transform refinery to run efficiently.

‘’Why can’t Tema Oil Refinery be helped to be back on its feet since it is this same government [NDC] that crippled it,’’ he said.

He noted that the refinery has gone past the routine maintenance of its machinery and must be back producing crude for Ghana.

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‘’It is long overdue for them to be back on track producing.’’

According to Minority spokesperson on energy, claims that work has stalled on the refinery due to technical challenges  is untrue.

Mr. Hammond insisted that there is no ‘’bigger technical issue’’ preventing the operation of TOR.

‘’… plain negligence by government for allowing the Tema Oil Refinery to get back to work; there is no technical issue as far as I am concern.

‘’What is happening is that they [TOR] don’t have the crude/stock to [refine],’’ he said.

He blamed the governing NDC for the current state of TOR however.

Mr. Hammond further dismissed assertion that TOR cannot refine the high grade crude oil produced from the Jubilee field.

A Petroleum consultant in the Monday edition of the Public Agenda stated that TOR does not have the capacity to refine the ‘’high grade sweet light’’ crude oil produced at the Jubilee field.

The consultant added that TOR ‘’will have to do retooling or refitting before [it] can refine’’ the crude from Ghana’s jubilee field.

But MP explained that the claim from the consultant was bogus and upsetting.  ‘’It gets a bit upsetting when you hear people who are not entirely trained in this matters; people who make this vicious and pretty silly statements.’’’

He opined that the Tema Oil Refinery has all this years been refining ‘’sweet light’’ crude, especially from Nigeria.

‘’…Completely untrue, they don’t need to redo anything; TOR can refine whatever that is produced from the Jubilee field.

‘’On the contrary what Tema Oil Refinery cannot refine is heavy crude,’’ he stressed.

The Tema Oil Refinery is said to need an estimated $200 million for retooling before it can refine crude from the jubilee field.

Workers at the country’s only refinery which has not been working for years say they have the capacity to refine the crude produced in Ghana and have called on government to allow them to do so.

 

By: Evans Effah/citifmonline.com/Ghana

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[From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

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Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

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