Government commissioned Brompton Portfolio Limited’s paper products factory on Tuesday 7th May, 2019 at the Nsawam Medium Security Prisons in the Nsawam Adoagyir Municipality. The Factory manufactures toilet rolls, tissues, paper towels and packaging products. The company has acquired modern machinery and equipment with the capacity to produce over 160,000 packs of tissue papers and […]
Category: Business
1D1F: Chinese firms to inject $400m -57 1D1F businesses already in operation – Trade Minister
Minister of Trade and Industry, Alan Kyerematen has disclosed the pledge by some Chinese financial institutions to make a $400 million financial support available towards the implementation of the Ghana government’s flagship ‘One District, One Factory’ (1D1F) programme. The Chinese institutions, he mentioned, are to lend the $400 million to the local banks for onward […]
Ghana gets over 55% fiscal take in AGM/Aker deal
The Petroleum Agreement ratified by Parliament for the South Deepwater Tano (SDWT) block gives a fiscal take to Ghana, which is substantially above the international deepwater average of approximately 55%. A statement issued by AGM Petroleum Ghana Limited (AGM) said Ghana would be the main beneficiary of the profits from any oil produced in the […]
Circulation of upgraded 10, 20 and 50 cedi notes by BoG begins today
The Bank of Ghana (BoG) will today begin the circulation of its enhanced GHc10, GHc20 and GHc50 notes. According to the Bank of Ghana, both the old and the new notes will be used concurrently until the old ones are phased out. New features on the new notes include a gold stripe, a watermark, a […]
AGM set to begin oil exploration in Ghana following ratification of SDWT agreement
AGM Petroleum Ghana Limited is set to begin the exploration of oil in Ghana following the ratification by Parliament of the South Deepwater Tano (SDWT) agreement. A statement issued by the company a while ago read in part that ‘’The Petroleum Agreement ratified by Parliament on 3 May 2019, gives a fiscal take to Ghana, […]
IMANI beats retreat: retracts ‘injurious statements’ against K.K. Sarpong and Fueltrade
Policy think tank, IMANI Africa, has apologised “unreservedly” to the Chief Executive Officer of the Ghana National Petroleum Corporation (GNPC), Dr K. K. Sarpong, and Fueltrade Limited, a mid and upstream petroleum company, for “injurious statements” made against them on April 25, this year. In a three-paragraph press statement titled ‘Retraction and Apology to Dr […]
AGM/AKER energy deal ratified-Paid interest reduced, free interest increased
Parliament has approved the amended deal with AGM Petroleum for oil exploration in the Deep South West Tano oil block. The critical decision to accept the recommendations of Parliament’s Mines and Energy Committee was made through voice vote supervised by the Speaker, Prof Aaron Mike Oquaye, amidst opposition from the National Democratic Congress (NDC) minority. […]
Quad Energy leads consortium as AGM’s local partner in Ghana
An indigenous Ghanaian company incorporated in April 2019, Quad Energy will lead a consortium partnering AGM as local partner in its oil and gas exploration and production activities offshore Ghana. The consortium owns five per cent in the deal. Mr David Adomakoh, a 100% shareholder of Quad Energy, announced this in a statement issued yesterday. […]
QUAD energy to partner AGM Petroleum in its offshore operations in Ghana
Indigenous Ghanaian company QUAD Energy will partner AGM Petroleum in its oil and Gas exploration and production activities in Ghana. A statement issued by QUAD Energy and signed its Director, David Adomakoh and in the possession of BestNewsGH.com said the company was incorporated in April 2019 and has the relevant and requisite expertise and experience […]
PIAC angry with Finance Ministry over inclusion of GH¢440m oil revenue in 2019 budget
The Public Interest Accountability Committee (PIAC) has faulted the Finance Ministry for including some unspent GH¢440 million from 2017 in this year’s budget expenditure. PIAC has described as misleading a claim by the Ministry that the GH¢ 440 million unspent oil revenue in 2017 is part of its GH¢ 1.5 billion budgetary expenditure for this year. In […]
E-procurement will ensure transparency and efficiency in procurement process-Bawumia
The Vice President, Dr. Mahamudu Bawumia has assured that the recently launched e-procurement system will allow for efficiency and transparency in the procurement process. Dr. Bawumia who launched the Ghana Electronic Procurement System (GHANEPS) on April 30 2019 said ‘’ The eProcurement system is designed to address corruption in procurement procedures by minimising human face-to-face […]
Cedi depreciation: GUTA urges BoG to clamp down on black market operators
The Ghana Union of Traders Association (GUTA) says they have never thrown their support behind the activities of black market operators in the country as being peddled in some sections of the media. They argue that they have been at the forefront of advocating for the Bank of Ghana to clamp down on the activities […]