Business

The Pensioner Bondholders Forum has expressed disappointment over government’s failure to pay out matured coupons to investors who did not tender their bonds under the Domestic Debt Exchange Programme. This is the second time the government has failed to pay coupons that matured between February 6 and 20. In an interview with Citi News, Dr. Adu Anane Antwi, Convenor of Pensioner ...

The African Center for Energy Policy (ACEP) says Aker’s AGM decision to relinquish 80% interest in the South Deepwater Tano (SDWT) project shows how Ghanaian Civil Society Organisations (CSOs) fought to protect the country’s interest in the oil industry. AGM Petroleum announced that it has relinquished work on the project after what it described as careful consideration of all options. ...

Finance Minister, Ken Ofori-Atta, has hinted that a planned high-level government delegation to China has been postponed to late March 2023. This is owing to the upcoming National People’s Congress of China meeting scheduled for early March. However, the Finance Minister said bilateral talks will continue ahead of this important mission. The government is seeking under the G20 Common Framework ...

Ghana has taken delivery of the second consignment of fuel under the gold-for-oil policy. The 40,000 metric tonnes of oil arrived at the Tema port on Sunday, February 19, 2023. This brings the total fuel received under the policy to 80,000 tonnes. The Managing Director of Bulk Oil Storage and Transportation Limited (BOST), Edwin Provencal last week revealed that Ghana ...

Finance Minister Ken Ofori-Atta has promised to meet with President Akufo-Addo to deliberate on the exemption demand of members of the Pensioner Bondholders Forum. The decision was arrived at in a crunch meeting between the Minister and the group on day 8 of their protest for exemption. According to the convener of the forum, Dr Adu Anane Antwi, the Finance ...

Ghana’s inflation has dropped marginally for the first time in 19 months. Figures released by the Ghana Statistical Service revealed that for the month of January 2023, inflation dropped to 53.6% from the 54.1% recorded in December 2022. Inflation has been on an upward trajectory since May 2021. This means that in the month of January 2023, the general price ...

The government is said to have achieved more than the 80% target needed for the Domestic Debt Exchange Programme (DDEP). The programme is part of the requirements before Ghana can secure an economic bailout of about $3 billion from the International Monetary Fund (IMF). Some persons close to the team who worked on the programme told Joy Business the target ...

Individual Pension Bondholders are picketing at the Ministry of Finance Monday morning, demanding that they should be exempted totally from the ongoing Domestic Debt Exchange Programme.  About 50 of the bondholders wearing red armbands have thronged the Ministry’s premises with placards to register their displeasure over their expected inclusion in the programme. According to convener of the group, Dr Adu ...

The deputy Energy Minister, Andrew Egyapa Mercer, has confirmed that the initial consignment of 40,000 tons of oil brought into the country under the Gold-for-oil policy was purchased with cash and not gold as widely claimed by the Vice President, Dr Mahamudu Bawumia. His disclosure comes after several calls by Industry experts such as the Institute of Energy Securities and ...

Prices of fuel at the various pumps is expected to inch higher in the first pricing window of February, says the Institute for Energy Security (IES). Per projections made by the IES, prices of diesel, petrol, and LPG will go up by some 7% to 13%. According to the IES, the anticipated price increase follows a market rise in the ...