New FX rule eases pressure on banks and importers
Banks and importers have started reaping the benefits of the Bank of Ghana’s (BoG’s) new rule on foreign exchange surrender, as the Ghana Association of Bankers (GAB) and the bulk oil distributors (BDCs) report that access to foreign exchange (FX) and its availability in the country have improved tremendously than before. While the banks report […]
Ghana’s 2016 first quarter GDP grows at 4.9%
The first quarter provisional figures released by the Ghana Statistical Service (GSS) reveal that Ghana’s economy grew by 4.9 per cent. This is a few points up from the figure recorded during the same period in 2015. During the first quarter of 2015, the economy grew by 4.5%. The figures indicate that the Service sector […]
Spending oil money on Black Stars unwise – Edward Mahama
Flagbearer of the People’s National Convention (PNC), Dr. Edward Mahama, has described the use of Ghana’s oil revenue by the Ghana National Petroleum Corporation (GNPC) on the senior national team, the Black Stars as unwise, saying he will use Ghana’s oil revenue more judiciously should he be elected President. Responding to a question on the […]
Building FPSO in Ghana not possible – MODEC
Ghana’s hope of building a Floating Production Storage and Offloading (FPSO) vessel in the country may be far from possible, Vice President of Atlantic FPSO Project Development of MODEC International Inc, Puneet Sharma has said. According to him, it will not be economically prudent for Ghana to make a 600 million dollars investment to build […]
Government to issue 5 year cedi treasury bond on Thursday
Government has announced that it will issue a five year cedi denominated treasury bond on Thursday, to help government to restructure its debt and maturity settlement. The bond, according to the government is in accordance with its securities for June 2016. The instrument is to be issued at par, bearing a coupon rate equal to […]
Ghana gains despite sharp drop in crude oil prices-NRGI
The Natural Resource Governance Institute (NRGI) has stated that Ghana gained from the drop in oil prices on the world market despite a significant decrease in revenue accrued from export of the commodity. In 2015, government reviewed its projected oil revenue from 4.2 billion dollars to 1.5 billion dollars, indicating a 64 percent decrease after […]
$1bn needed to fuel thermal power plants
More than US$1.18 billion is needed this year to buy fuel required to fire thermal power plants in order for the country to meet its electricity demands, Ghana’s energy outlook report has said. The report authored by the chief energy policy adviser to government, the Energy Commission, says the amount required will expended on natural […]
IES projects up to 2% fuel price to drop
The Institute for Energy Security (IES) has projected a fall in prices of petroleum products from June 16 onwards between 1.7% and 2%. “The petroleum department of the Institute has considered the global trading trends of petroleum price since the last window and can project fuel price to drop on the Ghanaian market in the […]
Why businesses must support knowledge creation and intellectual capital in the policy space
SYPALA LECTURE BY SENYO HOSI TOPIC: WHY Businesses must support knowledge creation and intellectual capital in the policy spaace The story is told of the stomach which was indifferent about what the mouth took in. The liver, kidney, intestines and all the other key organs cared less as well. For them all they had to […]
Fuel imports drop to $1.9 billion
A $1.1 billion drop in the petroleum products import bill in 2015 is a clear manifestation that the high prices Ghanaians are paying for petroleum products is not justified. Ghana imported over 3.7 million (3,708,904.815) metric tonnes of petroleum products at a cost of over $1.9 billion in 2014, compared to 3,678,049.650 metric tonnes at […]
