Author: Michael Ogbodu
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Ghana made $5.2 billion oil cash from 2011 to 2020 – Natural Resource Governance Institute
A recent report by the Natural Resource Governance Institute has revealed that Ghana has so far made 5.2 billion US dollars from the sale of crude oil. The report indicated that the amount realized was from the sale of 73 cargos of oil by the Ghana National Petroleum Corporation (GNPC). The report titled “Ghana’s Oil…
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Privatise TOR if you can’t manage it – Energy consultant to government
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…
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COPEC predicts 5% increase in fuel prices
The Chamber of Petroleum Consumers (COPEC) is predicting an increase in prices of fuel in Ghana in the coming days. COPEC believes the increment is likely to be seen in the second pricing window in December 2020. The Chamber indicated that the slight depreciation of the cedi among other things is a reason for this…
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Bui Authority Bill will help diversify our revenue sources – Fred Oware
Bui Power Authority is anticipating an increase in revenue in the coming years. Speaking to Citi Business News, Chief Executive Officer of the Authority, Fred Oware, said the passage of the Bui Power Authority bill will help diversify the financial streams of his outfit. He indicated that, “We think that we should operate quite profitably,…
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Insure your premises against eventualities – SIC urges businesses
SIC Insurance Company has reiterated the need for businesses to begin paying critical attention to insuring their buildings. Over the weekend, fire gutted the first floor of the GBC Liberty House Branch at Katamanto in Accra. Head of Corporate and Special Risk at SIC, Emmanuel Simpiney-Mensah, emphasized that the role of insurance in minimizing business…
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AfCFTA: AGI wants electricity tariffs reviewed downwards
The Association of Ghana Industries (AGI), says in order for its members to adequately compete upon the implementation of the Africa Continental Free Trade Area (AfCFTA), electricity tariffs would have to be revised downwards. AGI argues that the cost of electricity is relatively higher in Ghana as compared to other countries in the subregion. Speaking…
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SIC to pay GCB Bank claims after Saturday’s fire
SIC, the insurers of the GCB Bank Liberty House Branch at Katamanto in Accra have commenced processes to assess damage and pay claims as may be necessary to the company following a fire outbreak at the facility on Saturday. Speaking to Citi Business News, Head of Corporate and Special Risk at SIC, Emmauel Simpiney-Mensah said…
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Hospitality business recording steady growth – Ghana Hotels Association
Business is gradually picking up with the many hotels across the country. This is according to the Ghana Hotels Association. The association attributes this development to the easing of some COVID-19 restrictions in the country. President of the Association, Dr. Edward Ackah-Nyamike, said the political season also may have contributed to this improvement in business.…
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Ghana cannot be energy sufficient without a working refinery – Energy consultant
Energy Consultant, Dr Yussif Sulemana, says in order for Ghana have energy security it must begin processing its own crude oil. Speaking to Citi Business News, on the sidelines of a workshop organized the Chamber of Petroleum Consumers (COPEC) on the country’s energy sector, Dr Sulemana said the country cannot have secured and reliable energy without…
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AGI calls for establishment of Industrial Bank
The Association of Ghana Industries is calling on government to speed up processes for the establishment of an industrial bank. According to the AGI this would help address the challenges of access to funding its members face. Speaking to Citi Business News, Director of Business Development Services, Johnson Opoku-Boateng, said government ought to come through…