Business

Nigeria, Africa’s top oil producer, is experiencing an acute shortage of fuel, which is causing huge disruption across the country. People are waiting at petrol stations for several hours, some into the night trying to get fuel. The longest queues have been in cities like the capital, Abuja, and the commercial hub of Lagos, at those petrol stations that actually ...

“It is, thus, of the utmost necessity that countries like Guyana and Ghana find ways of bringing their substantial hydrocarbon resources to production, and quickly too. We must add value to these resources, and not export them in their raw form if we are to transition to the status of developed countries. The effective management of these resources will determine ...

President Akufo-Addo says Ghana is still struggling to get more local companies to participate in the oil and gas industry years after laws allowing local content were enacted. The President, who was speaking at this year’s International Energy Conference and Expo in Guayana, said the government is doing all it can to get more locals to participate in the sector. ...

Pressure group, OccupyGhana has outlined three conditions that government should strictly adhere to should it successfully introduce the Electronic Transaction Levy (E-levy). According to the Group, the government must be transparent in its disbursement of the country’s funds. OccupyGhana also demanded that an “accountability regime that requires government, at least, to publish the revenue from the E-Levy and details of ...

The International Monetary Fund (IMF), says it is ready to support Ghana in any way deemed useful by the country’s leaders amidst its economic challenges. It says Ghanaian authorities have not contacted it for any form of assistance yet. In a statement published on Twitter by IMF’s Ghana country representative, Dr. Touna Mama, the IMF said Ghana’s current economic woes ...

An oil production vessel exploded off the coast of Nigeria early on Wednesday with 10 crew members on board. in a statement on Thursday Nigeria’s Shebah Exploration & Production Company Ltd (SEPCOL) said that flames had engulfed the Trinity Spirit floating production, storage, and offloading (FPSO) vessel following the blast a day earlier. ” But we can confirm that there ...

Mobile money Association of Ghana has petitioned the Minority Caucus in Parliament to ensure the new Electronic Transaction Levy (E-Levy) is rejected when it is put before the house. According to the group, the analysis they did on the E-levy following its introduction in the 2022 budget shows its implementation will pose a challenge not only to Ghanaians and agents ...

The Ghana Statistical Service (GSS) has revealed in the COVID-19 Households and Jobs Tracker Wave 3,  that borrowing became more frequent coping strategy in Ghana last year. Approximately eighty-seven percent, 86.7%, of households used some sort of coping strategy to deal with the negative effects of COVID-19 since March 2020, the tracker said. “The most common coping strategies included relying on savings ...

Newmont Ghana has said it is supporting the relief efforts for the victims of the tragic explosion that occurred at Appiatse on Thursday, 20th January 2022 with construction materials and consumables. The donated items including roofing sheets, iron rods, cement, and other consumables were donated in response to the government’s call to support the rebuilding of the Appiatse community. “We ...

The central bank has directed all financial institutions to only accept Ghana Cards for all transactions. The Bank of Ghana (BoG) explained that this order takes effect from July 1, 2022. This is pursuant to Regulation 7 of the National Identity Register, 2012 (L.I. 2111). “…with effect from July 1, 2022, the Ghana Card shall be the only identification card ...