Mr. Kofi Armah Buah, the Minister of Energy and Petroleum has announced that the Petroleum Commission has developed medium-term strategies to ensure smooth implementation of the local content Law. This, he said, includes the development of guidelines, templates as well as a monitoring and evaluation system, and that currently there are about 152 Ghanaian companies out of the 232 companies registered with the Petroleum Commission providing direct and indirect services to the upstream industry. ‘‘Services
Sunon Asogli is looking to tap into South Africa’s large coal deposits to fire its proposed coal power plant in Ghana. Officials of the company visited South Africa earlier this month to explore the possibility of importing coal, Said William Yan, Director of Commerce and Procurement. South Africa is said to produce in excess of 255 million tonnes of coal; around 77% of South Africa's energy needs are directly derived from coal, and 92% of coal consumed on the African continent is produced
Following government’s directive to ban all state institutions from purchasing and using imported furniture, there have been varied concerns as to whether local furniture manufacturers have the capacity to produce to meet the demand void that would be created as a result. After the Local Government and Rural Development Minister, Julius Debrah, announced that the ban was part of government’s efforts to stabilize the depreciating cedi by promoting patronage of local furniture products as well
Ghana’s fastest growing regional carrier, Africa World Airlines (AWA), is set to launch an on-board survey as part of efforts aimed at soliciting data on levels of satisfaction from customers in order to improve upon the overall end-to-end passenger experience. The airline’s Chief Operating Officer, Apiigy Afenu, at a press soiree on the occasion of AWA’s 2nd Anniversary reiterated the airline’s commitment to ensuring that each passenger’s comfort is given utmost priority. “To this end,
The largest power producer in the country, the Volta River Authority (VRA), is to partner one of the renowned power production companies in Europe, the Électricité de France -- otherwise known as EDF, to carry out the second phase of the Kpone Thermal Power Plant Project. EDF is a French electric utility company largely owned by the French government. Kirk Koffi, Chief Executive Officer of the VRA, told the B&FT that his outfit is in serious negotiations with the EDC for execution of the KTPP
Kwaku Sakyi-Addo Chief Executive Officer of the Chamber of Telecommunications --advocate for the telecommunications industry -- has reiterated the call for scrapping the 20 percent import tax on mobile devices in order to stem smuggling of the devices into the country. “Currently people are smuggling handsets in suitcases and bags into the country in order to avoid taxes. Because they are not paying taxes, the revenue assumptions made by the tax authorities are being compromised and taxes on mobile
Fidelity Bank Ghana Limited and ProCredit Ghana, as part of their resolve to ensure a smooth integration, have acquired the services of Danny A. Davis -- an international expert on mergers and acquisitions -- to provide strategic guidance toward a successful merger. The move is in anticipation of final approval from the Bank of Ghana and shareholders for both companies to merge. During the two-day workshop, Danny Davis -- one of the most respected integration specialists in the UK and the founder
President John Mahama on Monday held discussions with the Chief Executive of the Millennium Challenge Corporation (MCC), Dana Hyde, in New York. The meeting, which was also attended by the Minister for Foreign Affairs, Hanna S. Tetteh, is a follow-up to signing the new Ghana Compact in August. The MCC is investing US$498.2million to transform Ghana's power sector and also stimulate private investment. At the end of the five-year Ghana Power Compact, Ghana is expected to have a financially
The Forestry Commission, through the National REDD Secretariat, will undertake its first National Road Show aimed at galvanising public support for actions and measures targetted at addressing the drivers of deforestation and forest degradation in the country. The Road Show which is under the theme "Reducing Forest Loss and Climate Change Impacts through REDD ; Our Collective Responsibility", will begin in late September and end in early November this year. Four strategic locations, namely
Wholly-owned Ghanaian company TC’s Energy has signed a power purchase agreement with the Electricity Company of Ghana (ECG) to produce 1,000 megawatts of power from tidal waves by 2017. The Executive Chairman of TC’s Energy, Anthony Opoku, has disclosed that the company’s Swedish counterpart, Seabased Wave Energy, has already held talks with key project stakeholders including the Ghana Grid Company Limited (GRIDCo), the PSC Tema Shipyard, Sea Truck Group (STG) and the Ministry of Energy to
Government and its stakeholders are being urged to ensure that all employees are paid electronically. This is contained in the Strategic Payments Roadmap for Ghana report. The Report prepared by Standard Chartered Bank for the Bank of Ghana and launched this year, spells out steps the country needs to undertake to have an effective electronic payments system and move to a cash-lite society. One of the key recommendations of the Report is payment of employees by electronic means instead of the traditional
Dr. Joseph France, Head, Policy and Regulation Office, Banking Supervision Department at the Bank of Ghana, has urged banks to periodically organise workshops for their customers to explain the processes involved in complex transactions and trade finance. Speaking at the opening of the 5th Ghana International Bank (GHIB) four-day international trade finance training programme in Accra, Mr. France said through these training workshops, banks will be able to obtain the necessary feedback to enable
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