Category: Government
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Revamp TOR to ensure investor confidence for petroleum hub – COPEC to Government
The Chamber of Petroleum Consumers (COPEC) says government must get the Tema Oil Refinery up and running if it hopes to attract funding for its planned petroleum hub. Executive Secretary of COPEC, Duncan Amoah, says the current state of TOR will not boost investor confidence to raise funds for the petroleum hub. He stated that,…
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Parliament passes Bui Power Authority (Amendment), Bill 2020
Ghana is expected to make some progress in green energy as Parliament has passed into law the Bui Power Authority (Amendment), Bill 2020. The Bill is expected to empower the Bui Power Authority to develop renewable energy and other clean energy alternatives in the country. The Bill was laid in the House on Friday, 30th…
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Parliament approves financing agreement for establishment of National Development Bank
Parliament has approved the financing agreement between the Government of Ghana and the International Development Association (IDA) of the World Bank for an amount of $250 million for the establishment of a National Development Bank. The World Bank Board of Executive Directors had earlier on October 29, 2020, approved the US$250 million facility to support…
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Government defends terminating, re-awarding Accra Intelligent Traffic Management contract
Government has defended its decision to change the contractor for the implementation of the Accra Intelligent Traffic Management Project. Speaking to Citi Business News, Chairman of the Defense and Interior Committee of Parliament, Seth Acheampong, indicated that government did not agree with the conditionality in the previous contract hence the decision to terminate it. He…
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IMF’s 2020 growth rate projection for Ghana lower than BoG’s expectation
The International Monetary Fund’s (IMF) latest projection for economic growth in Ghana for 2020, is lower that the growth rate expected by the Bank of Ghana. The 0.9 percent growth rate projection by the Bretton Woods Institution in its latest World Economic Outlook report released this month for Ghana in 2020, is in line with…
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We’re ready to receive GNPC Gas and save Gov’t money – Cenpower
The Board Chairman of Cenpower Generation Company Limited, operators of the Kpone Independent Power Plant, has assured of his outfit’s readiness to receive and use gas from the Ghana National Petroleum Corporation (GNPC) as part of a new agreement with government, which is expected to lead to savings of about $ 3 billion dollars over…
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COVID-19: 78% of communities did not benefit from government’s free water – GSS
It has emerged that as much as 78 percent of communities in Ghana sampled did not benefit from the government’s free water initiative. According to the COVID-19 Local Economies Tracker by the Ghana Statistical Service and the United Nations Development Program (UNDP), these localities relied on alternative sources of water and were not served by…
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IES demands more commitment from political parties on renewable energy
The Institute for Energy Security is demanding a lot more commitment from the governing New Patriotic Party and the National Democratic Congress in the renewal energy sector. Both parties had made provision for renewable energy in their respective manifestos but the energy think tank believes such promises are not enough. Speaking to Citi Business News,…
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Blackshield customers threaten demo ahead of payment of funds of 20 FMCs
Customers of Gold Coast Fund Management Company Limited, now Blackshield Capital Management Limited have warned of embarking on an industrial action if the Registrar General fails to release a payment plan for its members as it prepares to begin payment for some customers of other companies whose funds were locked in some of the defunct…
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Basing Agyapa Royalties in tax haven disappointing – Terkper
Former Minister of Finance, Seth Terkper says the Finance Ministry’s defence for incorporating Agyapa Royalties Limited in Jersey of the Channel Islands as a means to avoid paying extra taxes on mining royalties is disappointing. Jersey is a known tax haven and a destination for incorporating companies that want to be listed on the London…