Category: Business
-
Bayport to raise GH¢300m from stock market
Savings and Loans Company, Bayport, has told Citi Business News it will be raising 300 million cedis from the Ghana Stock Exchange, through the issue of corporate notes. According to the company, the move is in fulfillment with plans to expand its initial 200 million cedis note programme. The Managing Director of Bayport, Nii Amankra…
-
#CitiBizFestival: GhIPCON Day 1 in pictures
The Ghana International Petroleum Conference (GhIPCON) started yesterday at the Kempinski Gold Coast Hotel in Accra. The three day event has assembled experts in the oil and gas industry, to discuss pertinent issues in the sector. Some of the topics that were discussed include; “Realizing the vision of a Petroleum Hub”, “Finding the optimal balance…
-
Ghana Gas struggling due to VRA’s inability to pay debt
Failure of the Volta River Authority(VRA) to pay some $500 million it owes the Ghana Gas Company is said to be having a toll on the production of gas in the country. The debt which has been lingering on for some years now, accumulated as a result of the supply of lean gas for power…
-
#CitiBizFestival: Oil and Gas experts to meet at GhIPCON 2018
The next outdoor event on the Citi Business Festival, the Ghana International Petroleum Conference (GhIPCON) will come off this morning at the Kempinski Gold Coast Hotel Accra. The conference will assembly experts and stakeholders in the petroleum downstream sector to discuss challenges and bring out solutions for the industry. The topics to be discussed include;…
-
LPG consumption in 3 regions of the north still low—NPA
A report by the National Petroleum Authority (NPA) has revealed that all the three regions in the north consume only 4% of the total LPG produced in the country. Out of the 650 LPG retail outlets in the country, only 30 are situated in the Northern region, Upper East region and the Upper West region.…
-
Prosecute officials involved in Newmont Ahafo mine accident
The Ghana Mine Workers Union has stated that it would have preferred prosecution of persons involved in the Newmont Ahafo mines accident that claimed six lives and injured four people, in addition to the fines imposed on the companies. Even though the union described the fines imposed on the companies as encouraging, it however argued…
-
Publish all exemptions under ESLA – Senyo Hosi to ESLA Plc
The Chamber of Bulk Oil Distributors (CBOD) is demanding that the government makes public, all exemptions granted under the ESLA receipts for 2016 and 2017. The Chamber argues that the extent of such exemptions may serve as an avenue for tax evasion hence Ghanaians must be given the fine details of the transactions. The request…
-
Newmont to comply with Ahafo mine accident findings
Newmont Ghana Limited says it will address all findings outlined in the investigative committee’s report on its Ahafo mine expansion project. According to the company’s Regional Senior Vice President for Newmont Africa, Alwyn Pretorius, the firm will work to prevent the incident from happening again. “We are all devastated by the loss of six colleagues…
-
Foodstuff prices go up by 7% in May – Esoko
Prices of foodstuff have gone up by at least seven percent between April and May 2018. Statistics released by Esoko Ghana shows that prices went up as much as 7 cedis for some foodstuff on the market. A variety of factors have been attributed to the rise in the prices of food items. These include…
-
Newmont, others fined $ 2.7m over Ahafo mines accident
A committee set up by the Ministry of Lands and Natural Resources to investigate the Ahafo Mines accident which left six people dead and four others injured has directed that Newmont Ghana Gold Limited be fined US$500,000 for negligence. The company will also been fined US$10,000 for failing to ensure that DRA Company Limited, the…