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

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    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

    ASTM International pledges support for Ghana’s petroleum industry

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    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

    Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst

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    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”

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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

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

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BOST solicits private sector support to position itself financially

February 28, 2020
in Oil And Gas, Top Stories
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Managing Director of Bulk Oil Storage Transport, BOST, Edwin Provincal, says the company has secured some oil reserves and support from the private sector to turn around the fortunes of the company.

““We took the opportunity to engage about the past, the present and also the plans we have for the future. They now know very well that BOST has some reserves, though not up to six weeks. It’s been two weeks and the rest are being supported by the private sector” he told Citi Business news.

He was speaking after a visit to BOST by Parliament’s Assurance Committee.

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BOST has since 2015 grappled with huge debts over its inability to account for fuel products worth close to eleven billion cedis.

But speaking to Citi Business News on recent developments at the company, Mr. Provincal said BOST is on the path to financial recovery.

“We also got the opportunity to let them understand our situation with regards to our infrastructure readiness and that was not much of a good news but they acknowledged the effort that is been put in place by this government and by our management team and they have reassured us that they will support us to turn this place around”.

BOST clears 12-year old GH¢64 million GCB Bank debt

The Management of the Bulk Oil Storage and Transportation Company, BOST, is confident its agenda to turn around the fortunes of the loss-making entity is on course following its ability to fully settle a 12-year old credit facility contracted from GCB Bank.

The loan sourced from GCB in 2008 has been in arrears and attracted several penalties from the bank.

But the Chief Executive Officer of the company, Edwin Provencal, has told Citi Business News the GH¢64 million credit facility, which was sourced to boost the trading position of BOST, was completely settled in January 2020.

Tags: BOSTEdwin Provincal
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