Indigenous bank, Fidelity Bank, is funding the installation of two gas-based thermal plants of the Volta River Authority (VRA) for power generation at a cost of US$100million, VRA’s Chief Executive Officer, Kirk Koffi, has said. The project, known as the Kpone Thermal Power Project (KTPP) sited at Kpone in the Tema Metropolis, will generate 220megawatts of thermal power to augment what is currently being generated. Kirk Koffi said the thermal plants, which were procured by government in 2008,
The Managing Director of Energy Bank, Samuel Ayininuola, has noted that reviewing the Bank of Ghana’s directive on foreign exchange transactions in the country has helped to boost confidence in the banking system, leading to increase in forex inflows and the recent decline in bank rates. Mr. Ayininuola told the B&FT on the sidelines of the bank’s customer forum in Tema that the directive’s reversal is timely and smart as confidence in the banking system was waning, a situation that made
“Seventy percent of business ventures will fail in the first five years!†says Kenneth Thompson, CEO of Dalex Financial Services Limited. Speaking at the recent Servled Friday gathering on the subject matter “Financing your business with other people's money -- friends, family and foolsâ€Â, he said for many this is largely due to the complexity of finding funds to start or expand a business. Servled Friday is a free event held every Friday that brings an accomplished entrepreneur or business
The usual congestion and unending queues at the arrival and immigration halls of the Kotoka International Airport (KIA) is to be reduced significantly by the end of November 2015 due to the ongoing expansion and rehabilitation project at the nation’s premier airport. Charles Kwame Asare, Managing Director of Ghana Airports Company Limited (GACL) gave this assurance during a visit by the Minister of Transport Dzifa Aku Ativor to the site to monitor and inspect the project. Following the influx
Government has secured $108 million loan from the International Fund for Agricultural Development and the African Development Bank to implement the third phase of the Rural Development Programme (REP). Deputy Minister of Trade and Industry Kweku Rickett Hagan said government will be providing an additional $64 million to complement the loan through counterpart funding. He was speaking at the opening session of a three-day workshop on the implementation of the third phase of the REP for Municipal
Licensed Cocoa Buying Companies (LBCs) have been asked to avoid unhealthy competition and bad business practices likely to compromise the quality of Ghana’s beans. The Chief Executive of Ghana Cocoa Board (COCOBOD), Dr. Stephen Opuni, said the LBCs should operate strictly within the rules governing the internal cocoa trade, promote good agronomic practices and to handle the grading and delivery of stocks with efficiency. He said the expectation is that they would continue to stick to due diligence
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