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    Agribusiness Chamber demands resignation of Agric Minister over sector woes

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    ActionAid Ghana Appoints John Nkaw as Country Director

    BoG’s inflation targeting framework can’t reduce rise in inflation – IEA

    Monetary Policy Rate must be increased to 19% to check inflation – IEA

    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

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    6th CEO’s Summit pushes for ease of doing business law to boost economic growth

    Policy rate likely to be increased to tame inflation – Databank CEO

    Banking Consultant bemoans continuous charging of unfair fees by banks

    Chamber of IPPs disappointed over ECG’s tariff increase request

    A comprehensive storage strategy will deal with post – harvest losses & inflation – CSIR

    A petrol station worker fuels a car along Kimathi street on July 14 2019,after the Energy and Petroleum Regulatory Authority (EPRA) announced new retail pump prices of petroleum products effective from July 15 to August 14, 2019.price of super petrol increase by Sh0.29 per litre while diesel and kerosene decreased by Sh0.88 and SH2.31 per litre respectively.PHOTO|SILA KIPLAGAT

    NPA allays fears of fuel scarcity in the country

    Fuel prices to rise marginally in second pricing window of May – IES

    Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta

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    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

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Angola’s state-run oil company fires subsidiary’s board

bycitibusinessnews
December 22, 2016
in Africa, Southern Africa
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The head of Angola’s state oil company Sonangol has fired the executive committee of subsidiary Sonangol Exploration and Production, the company said on Tuesday.

Sonangol’s chief executive Isabel dos Santos, the billionaire daughter of President Jose Eduardo dos Santos, has told the Financial Times she plans to split the company into three units.

Dos Santos has said she wants to improve transparency at Sonangol, long been regarded as one of the most opaque institutions in Africa.

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Sonangol cited “management weakness” and financial concerns for the dismissals.

“This decision is in line with the stance of the new Board of Directors of the oil company to be consistent with the principles of rigour and transparency,” its statement said.
Sonangol Exploration and Production is also involved in prospecting.

The Financial Times quoted Dos Santos as saying Sonangol would be divided into three units: exploration and production, logistics and a division that handles its concessions to international oil companies. Non-oil interests will be placed in a fund.

Angola, a member of OPEC and currently Africa’s top oil producer and third largest economy, has been hit hard by the slump in global crude prices. Oil export revenues account for more than 90 percent of its foreign exchange revenues, which critics say have been squandered and siphoned for decades.

–

Credit: CNBC Africa

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