Author: Michael Ogbodu
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Plans to kick out foreign players in Ghana’s downstream oil sector counterproductive – Henry Akwaboah
The Former Chairman of the Association of Oil Marketing Companies, Henry Akwaboah, says the government’s plans to aggressively implement a local content law on the downstream sector risk dwindling investor confidence in the country. This follows some moves by the government to increase local participation in the space. Henry Akwaboah says if this is not…
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Favourable electricity tariffs will make steel industry competitive amid AfCFTA – B5 Plus CEO
Leading iron and steel manufacturing company, B5 Plus says Ghana stands to be a market leader in the sector with the implementation of the African Continental Free Trade Area (AfCFTA) if the issue of the high cost of electricity is addressed. Chief Executive Officer of B5 Plus, Mukesh Thakwani, called on the government to introduce…
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Hospitality players hopeful of recovery from impact of COVID-19 by Q2 2022
Stakeholders in the hospitality Industry are projecting a significant recovery from the impact of the COVID-19 pandemic. According to them, they will be able to recover from the shocks by the end of the second quarter of 2022. The sector continues to grapple with the impact of the pandemic despite the removal of most of…
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Government must address fuel price hikes – TAGG
The Trade Advocacy Group Ghana (TAGG) is lamenting the frequent hikes in fuel prices. The Group says the development is skyrocketing their cost of doing business and stifling their growth. Fuel prices started the year at a little over GH¢ 4 per litre but currently, sell at GH¢ 6.50 per litre. President of TAGG, Kwadwo…
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Petrol and diesel prices to hit GH¢7 per litre if government does not intervene – COPEC
The Chamber of Petroleum Consumers (COPEC) says fuel prices at the pump may hit GH¢7 a litre if the government does not put measures in place to cushion Ghanaians. Speaking to Citi Business News, Executive Secretary of COPEC, Duncan Amoah stated that, “Fuel is now threatening to get to almost GH7 a litre. Currently, some…
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AfCFTA Secretariat to conclude on rules of origin policy soon – Wamkele Mene
Secretary-General of the African Continental Free Trade Area Secretariat, Wamkele Mene, says the issue of rules of origin under the agreement will be concluded in the next couple of weeks. He stated that “We have made 80 percent progress. Out of almost 8,000 products, we’ve agreed on 86 percent of those rules. We have a…
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Work to improve GWCL’s finances – Cecilia Dapaah to board
The Minister of Sanitation and Water Resources, Madam Cecilia Dapaah, says she expects the newly sworn-in board of the Ghana Water Company to ensure that it improves the debt situation of the company. The minister was speaking during the swearing-in of the 11-member board of the utility company. She further called on the Board to…
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Implement market fire reports to prevent reoccurrence of such incidents – BPS
The Bureau of Public Safety says the country may continue to record fire outbreaks in its markets unless it begins to make public reports of earlier incidents and implement findings stated in these reports. Executive Director of the Bureau of Public Safety, Nana Yaw Akwada, stressed that until that is done, these fires would continue…
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World Bank’s $55M tourism sector grant to be disbursed this week – Dr Awal
The Minister for Tourism Arts and Culture, Dr Mohammed Amin Awal has indicated that the government will this week begin the disbursement of a $55 million grant from the World Bank to boost the tourism industry. This follows agitations by some stakeholders in the hospitality industry over the delay in disbursing the money. He stated…
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Ghana’s local industry can’t progress without political will – Prof. Mensah
Financial Economist and Senior Lecturer at the University of Ghana Business School, Professor Lord Mensah says growing Ghana’s local industry will require strong political will and commitment. He argues that beyond putting in place policies in that direction, the political class must put their feet in the game. “You see, as a country, you should…