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    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    President and Board Chairman of Afreximbank, Prof Benedict Oramah

    Plans are underway to complete a fertilizer, railway projects in Ghana – Afreximbank

    Free SHS and other programs must be redesigned now – Seth Terkper

    KGL Group hosts Nigeria Lottery Regulatory Commission CEO Mr. Lanre Gbajabiamila

    IMF team arrives in Accra on Wednesday to begin bailout talks with gov’t

    Fuel prices to go up as NPA announces restoration of UPPF margin

    GHASALC laments drop on number of digital transactions following e-levy

    Gov’t to commence talks with IMF for bailout

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

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    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    Fuel prices to go up as NPA announces restoration of UPPF margin

    [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

  • 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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    • Asia
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    • US

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    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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    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    President and Board Chairman of Afreximbank, Prof Benedict Oramah

    Plans are underway to complete a fertilizer, railway projects in Ghana – Afreximbank

    Free SHS and other programs must be redesigned now – Seth Terkper

    KGL Group hosts Nigeria Lottery Regulatory Commission CEO Mr. Lanre Gbajabiamila

    IMF team arrives in Accra on Wednesday to begin bailout talks with gov’t

    Fuel prices to go up as NPA announces restoration of UPPF margin

    GHASALC laments drop on number of digital transactions following e-levy

    Gov’t to commence talks with IMF for bailout

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

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    We did no wrong in sale of 260 metric tonnes of slop oil – TOR

    Fuel prices to go up as NPA announces restoration of UPPF margin

    [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

  • 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

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    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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Debt owed ECG paid up to December 2019 – Energy Minister

byNerteley Nettey
May 19, 2020
in Local Economy, Top Stories
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The Minister of Energy, John Peter Amewu, says government has paid all its debt owed the Electricity Company of Ghana, ECG, up to December 2019.

According to the Minister, government paid GHS 2 billion annually to cover its bills.

Speaking at a press briefing by the Information Ministry,on Tuesday, May 19, 2020, Mr. Peter Amewu said debts that had existed up until December 2019 have been fully paid.

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This, he says, has given government a credit balance of GHS 500 million to cover bills up to April this year.

“The NPP government on assumption of office ensured that it was current on all bills incurred during its tenure from 2017 to date. On the average, the government under His Excellency Nana Addo Dankwa Akufo-Addo has paid GHS 2 billion annually to cover its bills with the Electricity Company of Ghana. Today, at the end of 2019, all government bills with ECG had been paid and government had a credit balance of 500 million Ghana Cedis with ECG. With an average bill payment of about 100 million per month, the credit balance of over 500 is enough and more than enough to pay for government bills from January to April 2020,” he said.

Following the negative impact of the novel Coronavirus on businesses and individuals, government earlier this year, announced that it is expected to cumulatively spend GHS1 billion to absorb the electricity bills of Ghanaians for April, May and June.

This is part of measures to offer some relief to consumers.

The package will cover over 86 percent of individual consumers and industries on the national grid as well as the electricity bills of consumers of the Electricity Company of Ghana (ECG), the Volta River Authority (VRA) and the Northern Electricity Distribution Company (NEDCo).

NDC messed up Ghana’s energy sector – Dr. Amin Adam

Earlier this year, Government attributed the increased debt in the energy sector to some policy decisions approved by the previous National Democratic Congress (NDC) government.

According to them, in January 2017 when the NDC handed over power, the Bulk Oil Storage and Transport Company Limited (BOST) owed $624 million to suppliers, Bulk Oil Distribution Companies (BDCs) and related parties in respect of crude oil imports for processing at TOR, as well as refined products which got lost from BOST tanks.

He explained that the NPP government has settled $567 million, saying “as at February 2020, the outstanding amount to settle to clear the books now stands at $57 million.”

Electricity subsidy must be targeted to sustain power sector – ACEP

Meanwhile, the Africa Centre for Energy Policy, (ACEP), has warned that government’s introduction of a complete waiver will, “endanger the sustainability of the power sector now and after the COVID-19 pandemic.”

According to them, though the gesture by government is benign, not everybody needs the subvention.

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President and Board Chairman of Afreximbank, Prof Benedict Oramah

Plans are underway to complete a fertilizer, railway projects in Ghana – Afreximbank

Free SHS and other programs must be redesigned now – Seth Terkper

IMF team arrives in Accra on Wednesday to begin bailout talks with gov’t

Fuel prices to go up as NPA announces restoration of UPPF margin

GHASALC laments drop on number of digital transactions following e-levy

Gov’t to commence talks with IMF for bailout

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