Category: Business
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Pecan Energies approves Plan of Development for Deepwater Tano/Cape Three Points block offshore
On behalf of its partners, Pecan Energies, the operator of the Deepwater Tano/Cape Three Points (DWT/CTP) block offshore Ghana, has announced the successful approval of the Plan of Development (PoD) for the DWT/CTP contract area by Ghanaian authorities. “We are thrilled to receive the approval of the PoD for the DWT/CTP block by the Minister…
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Price of diesel and LPG to drop marginally; petrol to remain unchanged – IES
The price of diesel and Liquefied Petroleum Gas (LPG) is expected to fall marginally in the first pricing window of July. This is according to a recent analysis by the Institute for Energy Security (IES). The projection by the Institute for Energy Security, notes that the reduction can be attributed to the 2.6% fall in…
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IBES committee inaugurated to proffer innovative policies for national development
The National Steering Committee of the Integrated Business Establishment Survey (IBES) has been encouraged to ensure that its 2023 report gives innovative backing to businesses across the country. This, according to the Ministry of Finance, will help shape relevant policies to stimulate the profiling of the country’s Gross Domestic Product (GDP) and other critical economic…
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IPPs suspend planned shutdown after engagements with ECG
The Chamber of Independent Power Producers Ghana (IPPs) has suspended its planned shutdown of plants powering the national grid despite debts owed by government. This follows what the Chamber describes as fruitful engagements with the Electricity of Ghana (ECG). To this end, the IPPs have agreed to keep operating their power plants after July 1,…
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KY Amoako advocates constitutional changes to bolster economic growth
The African Centre for Economic Transformation (ACET) has identified changes in the constitution as one of the pivotal ways of driving transformation in the face of Ghana’s current economic quagmire. The Centre makes the point that although the constitution shas aided some economic growth, the present situation requires amendments for the tough times ahead stressing…
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Govt poised to help private sector grow – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has reiterated his government’s resolve to do everything it can to grow the country’s private sector, which will contribute to the growth of the economy. He said this because the country’s current economic challenges require investment from the private sector. Speaking at a meeting with the Group Board Chair of…
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Petroleum tanker drivers resume work after suspension of strike
Business operations have resumed at various petrol and gas depots along the Volta Aluminum Company (VALCO) Kpong road in Tema. A tour at different loading terminals including Tema Oil Refinery, Fuel Trade and Chase was busy with the tanker drivers queueing to fill their tanks. The operations come after government through the Ministry of Roads…
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Mahama begs IPPs to reconsider shutdown over $1.73 billion debt
Mahama begs IPPs to reconsider shutdown over $1.73 billion debt Former President John Dramani Mahama has urged the Independent Power Producers (IPPs) to reconsider their decision to shut down their plants on July 1 due to the government’s outstanding debt of $1.73 billion. In a Facebook post on June 30, the former President emphasized that…
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GCB Bank unveils comprehensive turnaround plan to revitalize operations after DDEP blow
At the annual general meeting of the Ghana Commercial Bank (GCB), Managing Director Kofi Adomakoh addressed the bank’s financial performance in 2022 and outlined the challenges faced by the bank and the overall operating environment. The bank’s financial performance in 2022 reflected the impact of several factors, including the Domestic Debt Exchange Programme (DDEP) initiated…
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Government commends APPEB Cylinder Manufacturing Company for making strides in the industry
The Ministry of Trade and Industry has reiterated government’s support for private initiatives under the 1D1F to spur the growth of indigenous manufacturing companies. According to the Deputy Minister of Trade and Industry, Michael Okyere Baafi, the efforts of the private sector under the initiative has yielded significant results with respect to complementing government’s efforts…