Category: Local Economy

in Local Economy, Top Stories

Minister of State for Finance, Dr. Mohammed Amin Adam has reaffirmed government’s commitment to securing the necessary liquidity to meet forthcoming obligations within the ambit of the Domestic Debt Exchange Programme (DDEP). This comes on the heels of the successful settlement of the inaugural coupon payment due under the DDEP, amounting to a significant GH¢2,369,667,190.18,…

We can’t keep our power plants on if payments are not consistent – IPPs

Aug 24, 2023

—

by

in Featured, Local Economy, Oil And Gas, Top Stories

The Chief Executive Officer (CEO) of the Independent Power Producers (IPPs), Elikplim Kwabla Apetorgbor has indicated that the IPPs will only take on the threat of shutting down their plants only if promises made to them by the government are not fulfilled. “It is not about the threat to shut down, it is about our…

Economy has turned no corner – Kwabena Duffuor

Aug 23, 2023

—

by

Former Finance Minister Kwabena Duffuor has dismissed claims by the current Finance Minister, Ken Ofori-Atta, that Ghana’s economy has turned the corner. Ofori-Atta made the claim during his presentation of the Mid-Year Budget Review in Parliament on July 31. He said that government plans and programmes had started yielding positive results and that the economy…

Transport operators threaten to increase fares by 20%

Aug 23, 2023

—

by

in Business, Featured, Local Economy, Top Stories

The Coalition of Transport Union and Association is threatening to increase transport fares by 20 percent if government fails to scrap off some taxes from the petroleum price build-up. The association says government must abolish the sanitation and pollution levy, and energy sector levy to ease the unnecessary pressure on drivers and other consumers. Speaking…

ECG settles June, July payments to IPPs

Aug 23, 2023

—

by

Nii Larte Lartey

in Featured, Local Economy, Oil And Gas, Top Stories

Citi Business News has gathered that the Electricity Company of Ghana (ECG) has settled debts to all Independent Power Producers (IPPs) for the months of June and July after earlier concerns expressed by the power generation companies. Sources close to Citi Business News confirm that all the IPPs have received a second payment for current…

Deadline for dollar-denominated bonds, pension funds DDEP administratively extended to Aug. 25

—

by

That government has announced an “administrative extension” of the alternative offer of the domestic dollar bonds and pension funds to August 25, 2023. The alternative offers had earlier closed on August 4, 2023, despite indications by the Ministry of Finance that participation reached approximately 91%. However, in a statement issued today, Tuesday, August 21, 2023,…

Phase two of Tamale Airport project inaugurated

—

by

Vice President Dr. Mahamudu Bawumia inaugurated the Phase Two expansion of Tamale International Airport on Tuesday. Tamale International Airport is the third-busiest airport in Ghana, after Kotoka International Airport and Kumasi Airport. It serves as a vital transportation hub, connecting both domestic and international destinations to Tamale. The airport was originally established during World War…

Electricity tariff goes up by 4.22%

—

by

in Business, Featured, Local Economy, Top Stories

The Public Utilities Regulatory Commission (PURC) has implemented a 4.22 percent increase in electricity tariffs for all non-lifeline residential customers, affecting the average end-user. This decision comes after a review carried out for the third quarter of 2023 by the PURC. According to the PURC, the primary objective behind the tariff adjustment is to ensure…

Govt settles first coupon for bonds affected by DDEP

—

by

Nii Larte Lartey