Author: Lawrence Segbefia
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Gov’t to outdoor action policy to protect Ghana in awarding petroleum contracts
The Vice President Dr. Mahamudu Bawumia has reiterated government’s commitment to introduce policies that will protect Ghana’s oil and gas industry to benefit Ghanaians. The vice president was hopeful an action policy will soon be announced by the regulator—the Petroleum Commission to protect the country’s interest when giving out oil blocks to multinational companies. Speaking…
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Article: Time to end petro-politics in Ghana
It was speculated that government was once more going to increase taxes on petroleum products during the 2019 mid-year budget review, contrary to the expectation of Ghanaians. The Minority Caucus in Parliament joined sections of Ghanaians to launch a protest, a situation that often comes up when politicians want to score political points against their…
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‘We’ll picket at Finance Ministry if increases in energy levies are not reversed’–COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) has indicated that it will engage the Finance Minister to reverse a decision to increase some components in the petroleum price buildup. The group, however warned that it will picket at the Finance Ministry if all attempts aimed at getting the government to overturn the decision fails. The Finance…
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Gov’t to make Accra a Financial Services Hub
Finance Minister Ken Ofori-Atta has disclosed that government is planning to make Accra a financial hub to attract major banks in West Africa to site their headquarters in Ghana. Currently, the African Development Bank has its headquarters in Abidjan, Ivory Coast, while Ecobank has its headquarters in Lome, Togo. Speaking at a ceremony to showcase…
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Multi-million dollar Trade Fair Center Redevelopment project to include hotels
Management of the Ghana Trade Fair Company Limited (GTFL) is inviting investors to partner government to undertake a redevelopment of the trade fair center. The redevelopment, which has been categorized into two phases was designed by renowned architectural company Adjaye and Associates. The overall objective is to redevelop the existing Trade Fair Center into a…
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IFS warns real budget deficit may exceed 5% by end of 2019
The Institute for Fiscal Studies (IFS) is warning that government may record a real budget deficit of more than 5 percent of GDP if government does not reduce its appetite for borrowing. According to the IFS, even though government has outlined measures not to overspend, the trend rather shows that government is borrowing outside its…
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TEMPLE Advisory launches Strategic Leaders Program to accelerate enterprise transformation
TEMPLE Advisory, a leading talent development and a strategy consulting firm has launched the Strategic Leaders Program with the objective of supporting business to prepare and accelerate their transformation in 2020 and beyond. The recent disruption and structural shifts in the local economy, coupled with heightened global tensions have created unique challenges and opportunities for…
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Article: Restructure, recaptalize, and revamp TOR
Its weaknesses are well documented, ranging from distress financial position, low refining and utilization capacity, weak governance structure, poor maintenance culture, to production and storage losses. But little attention have been giving to its strengths and opportunities. It takes only those who have ever ventured closer, to see the brighter side of the 45,000 barrels…
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Ghana’s debt stock hits 200 billion cedis by May
Data released by the Bank of Ghana shows that the country’s total debt stock has hit 200 billion cedis by May 2019. The data shows that the debt stock increased by 2 billion cedis in three months from March to May. The external component of the debt is pegged at 20.5 billion dollars while the…
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Activities in mining and quarrying push June PPI to 7.6%
The Producer Price Inflation (PPI) for June 2019 has increased to 7.6 percent compared to the same period in the previous year. This rate represents a 0.9 percentage point increase in the producer inflation relative to the rate recorded in May 2019 which was 6.7 percent. The Producer Price Index measures the average change over…