Category: Top Stories
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Reject govt’s proposed alternative offer – Organised Labour to Pension Fund Trustees
Organised Labour has urged the Board of Trustees of Pension Funds to reject any attempt to rope in pension funds of their clients onto government’s new Proposed Alternative Offer as part of the debt exchange programme. According to Organised Labour, after scrutinising a letter dated April 7th, 2023, inviting the Board of Trustees of Pension…
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Ghana’s oil production drops by 6% but revenue hits record high in 2022
Ghana’s petroleum industry generated a record revenue of US$1.43 billion in 2022, the highest since the inception of oil production in the country. This was despite a dip in the number of oil barrels drilled in Ghana’s three oil fields –Jubilee, Tweneboa, Enyera, and Ntomme (TEN) and Sankofa, Gye and Nyame (SGN). This was contained…
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Contaminated fuel saga: Provide details of retail outlet – NPA to Fameye
Music artiste Peter Bozah, better known by his stage name Fameye, has reportedly received a compensation amount of GH¢25,000 from an undisclosed Oil Marketing Company (OMC) over allegations of selling him fuel contaminated with water. This news has come as a surprise to the National Petroleum Authority (NPA), which stated that state institutions, such as…
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ECG to undertake planned maintenance works in Accra on April 21
The Electricity Company of Ghana (ECG) has served notice of planned maintenance works in the Greater Accra Region. The exercise is scheduled for Friday, April 21, 2023, from 9 am to 5 pm. A statement from the company said the repair works are aimed at improving service delivery Areas to be affected are Tesano, Abeka,…
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Ghana’s economic woes not solely due to Covid-19, Russian/Ukraine war – Fitch Solutions
The idea that Ghana’s economic troubles are primarily a result of the Covid-19 pandemic and the Russian/Ukraine conflict has been dismissed by Fitch Solutions. The research and market information company argues that Ghana’s debt had already reached concerning levels prior to these external shocks. During a recent Sub Saharan Africa Macroeconomic Update, Senior Country Risk…
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Public Utilities Workers’ Union, GWCL staff protest over Deputy MD’s appointment
The Public Utilities Workers’ Union of the Trades Union Congress and some staff of the Ghana Water Company Limited (GWCL) are protesting the nomination of a Deputy Managing Director, Finance and Administration, Collins Nuntwiri to the company. Clad in red, the union and the staff bemoan that Mr. Nuntwiri does not have the required qualification…
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Securing IMF bailout won’t fix economy – Harry Yamson
Even if Ghana secures its 18th extended loan facility from the International Monetary Fund (IMF), Michael Harry Yamson, Managing Partner at Ishmael Yamson and Associates, fears the country’s economic woes will further worsen. He believes the government has not demonstrated enough fiscal and political discipline in order to improve macroeconomic stability. Mr. Yamson told Bernard…
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ECG MD apologises to customers for inefficiencies
The Managing Director of the Electricity of Ghana (ECG), Samuel Dubik Mahama, has rendered an unqualified apology to customers of the power company for the inefficiencies in the system. He admitted that his outfit has on some few occasions not delivered efficiently to the satisfaction of their customers. The ECG boss partly attributed the issue…
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ECG revenue mobilisation not IMF driven – Dubik Mahama
The Managing Director of the Electricity Company of Ghana, Samuel Dubik Mahama has refuted suggestions that the revenue mobilisation exercise is one of several conditionalities from the International Monetary Fund (IMF). The ECG has embarked on a one-month-long revenue mobilisation exercise to recover some GH¢5.7 billion from individuals and firms who have failed to pay…
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ECG negotiates with GRA to offset ¢600m tax obligation
The Electricity Company of Ghana (ECG) is negotiating with the Ghana Revenue Authority (GRA) to offset about GH₵600 million of its tax obligations to the state. The company intends to write off the debt of some “sensitive” public sector institutions that have accumulated over the years Mr. Samuel Dubik Mahama, the Managing Director, ECG, who…