Category: Government
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24 million dollars revenue loss at TOR false—Management
The Tema Oil Refinery (TOR) has described as ‘false’ a publication by the Institute of Energy Security(IES) that the refinery is incurring losses to the tune 24 million dollars. Management of TOR in a press statement issued on December 3rd, 2018 said the projections by IES which concluded that the refinery was making losses due…
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$24m revenue loss hangs over TOR’s neck – IES
The Tema Oil Refinery (TOR) is to lose about 24 million dollars in revenue due to drop in global prices of refined products. This is the assertion of the Institute of Energy Security (IES). The energy think tank attributes the development to an ineffective business model despite producing refined products. The imminent loss follows the…
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ECOWAS to introduce new certification mark for export products
Traders seeking to export products from Ghana to other states within the ECOWAS region, will from March 2019 need a certification mark from ECOWAS for their products to be recognized as authentic and of good quality. The certification mark which is called the ECOMARK would be provided to all 15 ECOWAS countries for it to…
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Retain part of your earnings in Ghana—BoG to mining companies
The Bank of Ghana (BoG) has reiterated calls for mining companies to abide by the retention agreement to help retain some foreign currencies in the country. The agreement is aimed at preventing mining companies from keeping all their earnings outside the country after selling their products. Speaking at the 4th Ghana Mining Industry Awards, Governor…
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Ghana needs more investment in petroleum upstream sector—Tsatsu Tsikata
A former Chief Executive Officer of the Ghana National Petroleum Company (GNPC) Tsatsu Tsikata has called for more investment into Ghana’s upstream sector. According to him, the sector holds the potential to significantly reduce the country’s unemployment level. Since the promulgation of the Local Content and Participation Regulation LI 2204, about 12,000 Ghanaians have been…
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BoG sets new rules on related-party lending by banks
The Bank of Ghana has disclosed the full implementation of the directive on financial holding companies, next year [2019]. The Governor of the central bank, Dr. Ernest Addison maintains that it will solidify the regulator’s efforts to sustain the gains so far made in the financial sector. Addressing the Annual Dinner of the Chartered Institute of…
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Passion Air starts Accra-Takoradi flights
Patrons of domestic flights from Accra to Takoradi and vice versa, now have an alternative service. It follows the commencement of flights by Passion Air. The route has until now been served by only Africa World Airlines. The coming on-board of Passion Air forms part of the airline’s plan to meet the needs of as…
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Asanko Gold adjudged Mining Company of the Year 2017
Mining company, Asanko Gold Ghana Ltd has been adjudged Mining Company of the Year for at the 4th Ghana Mining Industry Awards. The company was named as the winner due to its fiscal performance, Corporate Social Investment, technological innovation, local content, environmental management and health and safety records in 2017. Asanko Gold also won the…
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First Lady calls for support for women entrepreneurs with disability
The First Lady Rebecca Akufo-Addo has urged businesses to support physically challenged women entrepreneurs in the country to better enhance their capabilities. According to the First Lady, most women with disabilities are exposed to discrimination and violations of their basic human rights as they are mostly denied employment opportunities, worsening their conditions. Speaking at a…
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Namibia Wildlife Resorts courts Ghanaians
Namibia Wildlife Resorts (NWR) is on a charm offensive in Ghana. Last Friday November 30 2018 at the Cleaver House in Accra it hosted a networking and showcasing event for Ghanaian stakeholders drawn from travel and tour operators, the media and other interested parties. The two-person team from NWR, Miss Esther Ndilula, Corporate Tourism and Tour…