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Ghana awaits maritime dispute ruling with ‘fingers crossed’

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President Akufo Addo says his government will not make any pronouncements on the yet to be delivered judgment on the maritime border dispute between Ghana and Ivory Coast. Nana Addo maintains that a lot of work is ongoing on how best to handle the outcome of the three year dispute. …

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Ghana aims to attract investors at ITU Telecom World Conference

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The Communications Ministry is leading a selected delegation of local ICT players to this year’s ITU Telecom World Conference to showcase the country’s strides in the sector and to attract potential investors. A brief on Ghana’s participation in the forthcoming global ICT Olympics indicates that the focus is to increase Ghana’s …

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COCOBOD secures $1.3bn for 2017/18 cocoa season

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The Ghana COCOBOD has signed an agreement with a number of banks to raise 1.3 billion dollars at an interest rate of 0.65% plus libor rate for the 2017/2018 purchase of cocoa beans. The syndicated loan which was signed in France today [20/09/2017] had 25 banks participating in the transaction. …

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OMCs adjust fuel prices at pumps by ‘stunning’ 8%

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Some Oil Marketing Companies (OMCs) have begun reviewing prices of their petroleum products following recent hikes in crude oil prices on the international market, Joy Business has learnt. The marginal depreciation of the country’s currency has also affected oil prices. JoyBusiness checks have revealed companies such as Shell and Total …

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Selling thermal plants won’t solve VRA’s problems – Staff

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Employees of the Volta River Authority (VRA), say the proposed sale of its thermal plants by government defies modern business logic and can’t address the problems of the power producer. Addressing the media today [Tuesday], Chairman of the Senior Staff of VRA, Cephas Duse said the current challenges faced by the …

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Over 100 students benefit from Karpowership bursary scheme

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Karpowership Ghana Company Limited, for the second consecutive year, has offered a scholarship to 102 brilliant but needy students in the Tema Manhean Community. The beneficiaries were selected across five different schools: Manhean Presbyterian Primary A and B schools, Manhean TMA JHS 1 and 2 schools, and the Manhean Community …

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COCOBOD loan to attract more local banks

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More local banks are expected to take part in the syndicated loan for cocoa beans purchases for the 2017/18 crop season. This is the indication from the Ghana COCOBOD. The official signing ceremony for the loan agreement is scheduled for Wednesday, September 20, 2017. This will lead to the release …

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Cedi depreciation, US floods increase petroleum prices

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Consumers should brace themselves to pay more for fuel for the second pricing window in September 2017. It follows an anticipated 7 percent rise in the prices of petroleum products. According to the Institute of Energy Security (IES), this is highly due to the effect and great impact Hurricane Harvey …

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New BOST Board mandated to stabilize fuel prices

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The Minister of Energy, Boakye Agyarko, has tasked the new Board of the Bulk Oil Storage and Transportation Company (BOST) to intensify efforts to increase the strategic reserves of petroleum products in the country. He maintains that failure to increase the stock of petroleum products in due time, could trigger …

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GRIDCo to lead low power costs drive

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Perhaps a key mandate of the new board of the Ghana Grid Company Limited (GRIDCo) will be to quicken the move to reduce the cost of electricity in Ghana. This will help meet the government’s objective of making Ghana very competitive within the sub-region with regards to pricing of electricity …

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