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    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

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    BoG Governor confident inflation has peaked; expects rate to start declining

    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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    Victor Yaw Asante, FBNBank Ghana MD

    Banks will continue to innovate to meet customers’ expectations – FBNBank’s MD

    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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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

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

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Standard of cars assembled in Ghana will not be compromised – GSA assures

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    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

    Seth Terkper advises against e-levy; urges government to run to IMF

    AfCFTA members conclude negotiations on rules of origin to enhance free trade

    Implement strategies to sustain increased consumer preference for digital payments – Bawumia

    Strict enforcement of AfCFTA regulatory framework will ensure smooth implementation of PAPSS – Bawumia 

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450MW Karpowership to stabilize power supply – ACEP

bycitibusinessnews
August 27, 2017
in Government, Local Economy, Oil And Gas, Top Stories
Benjamin Boakye - Executive Director, ACEP

Benjamin Boakye - Executive Director, ACEP

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The African Center for Energy policy (ACEP) is hopeful the arrival of the 450 megawatts Karpowership will help improve power supply in the country.

The new power generating vessel replaces an earlier once with a lower capacity of 225 megawatts at Tema.

Citi Business News understands that the ship has arrived in Ghana’s territorial waters to directly feed into the national grid for 10 years.

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Mr. Benjamin Boakye explains that the coming on board of the anticipated volume of power should suffice for Ghana’s power needs.

“The 250 Megawatts was a short term measure to ensure that while we were awaiting the 450 megawatts, we still had something to rely on. So they had to replace that with the contractual value that we signed up to and that is what they have actually done,” he stated.

The government of Ghana through the Electricity Company of Ghana (ECG) signed an agreement with Karpowership Ghana Company Limited for the provision of the 450MW capacity to augment the power supply.

Meanwhile the Executive Director of ACEP, Benjamin Boakye has reiterated the need for Ghana to reduce the high cost of power for businesses.

His call follows concerns by some industry players that Ghana’s high cost of power measures high compared to others within the sub-region.

Mr. Boakye believes that failing to bring down the cost of power may eventually repel investments into the country.

“I think that is something that we all understand and the sector also knows that electricity tariffs are expensive in Ghana and that affects our competitiveness as a country.”

“Today some other factors may go in for us; we are more stable and therefore investors have confidence in investing in a stable economy. But the question we need to ask ourselves is that should the other countries gain that stability and credibility that we have, will Ghana still continue to attract investments?” Mr. Boakye queried.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

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