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    Recent downgrades by S&P, Fitch ratings on Ghana unfair – African Peer Review Mechanism

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    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

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    Recent downgrades by S&P, Fitch ratings on Ghana unfair – African Peer Review Mechanism

    Private sector critical to renewable energy target- sector ministry

    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Gov’t must invest more resources into agriculture sector – Agribusiness Chamber

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Farmers worried about possible unfair distribution of MoFA machines

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

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    Cedi Depreciation: Government urged to enforce laws on pricing in dollars

    Assistant Director, Fintech and Innovation, BoG, Clarence Blay

    E-cedi will not affect MoMo business – Bank of Ghana

    Bank of Ghana to widen its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

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    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

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

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    African countries that could follow Sri Lanka into economic chaos

    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

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Privatise TOR if you can’t manage it – Energy consultant to government

byMichael Ogbodu
December 16, 2020
in Local Economy, News, Oil And Gas, Top Stories
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Energy Consultant, Dr Yussif Sulemana, says government ought to consider privatizing the Tema Oil Refinery (TOR) in order to keep the entity operational.

But Dr. Sulemana says, for such an entity that can play a major role in ensuring the country is energy efficiency, all options must be considered to make it fully functional.

He stated that “If we think as a government we cannot manage this critical infrastructure, let’s diversify.  Let’s bring in private sector players to invest in the refinery. That is the way to go. But if we leave it as it is now, then we are going to go round the circle that will keep on changing managing directors. Until we stop that interference, we are not going to see the refinery seeing the light of day. So the refinery is on its knees basically because, one, the political leadership required for the refinery to run is not there. That political leadership is that the government of the day has to stop unnecessary interference in the day-to-day activities of the refinery.”

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He added that “in fact, government of the day has no business in the refinery, why? The private sector can do that. So if you cannot allow the private sector to do that then don’t keep on changing Managing Directors up and down because it is still in government hands. As long as government is managing it, and government is not agreeing to give free space for operation to happen for the refinery to operate profitably, then, it’s going to be difficult.”

The refinery is Ghana’s first and only refinery, but it has not been working consistently due to financial challenges among others.

Despite this, government recently passed a bill for the establishment of a petroleum hub with a budget of about 60 Billion dollars which would process crude into various products.

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