BUSINESS

President Nana Addo Dankwa Akufo-Addo has officially appointed Herbert Krapa as the substantive Energy Minister of Ghana. This appointment was announced in a press statement from the Jubilee House on Wednesday, November 20, and signed by the Director of Communications, Eugene Arhin. Herbert Krapa had previously been appointed as the Minister of State at the Energy Ministry earlier this year, ...

President Nana Addo Dankwa Akufo-Addo will be commissioning The Bank Square, Headquarters of Bank of Ghana today Wednesday November 20. In the 1990s, the Bank of Ghana began the search for adequate and secured land for a new Head Office, given that the Central Business District had caught up with the existing Head Office and the need to expand to ...

President Nana Addo Dankwa Akufo-Addo, has said that the commissioning of the $1.2 billion Bridge Power Plant in Tema on November 19, 2024 marked a significant milestone in Ghana’s energy journey. It signalled a new era of resilience, sustainability, and progress, paving the way for a future where energy shortages are a thing of the past. The 515-megawatt combined-cycle power ...

The Cedi has gained marginally against the major trading currencies especially the Dollar, per the Bank of Ghana (BoG) rate as of Monday, November 18. Per the rate from the central bank on Monday, the Cedi is buying at 15.9670 to a Dollar and selling at 15.9830. Pound buys at 20. 1631 Cedis and sells at 20.1849 Cedis. The Euro ...

The Ghana Investment Promotion Centre (GIPC) has told global investors to choose Ghana as their investment destination due to the potential in the West African country. The centre indicated that Ghana enjoys political stability, a feat that provides fertile ground for businesses to thrive. Similarly, it said, the country has abundant natural resources, a prime geographic location, and business-friendly policies. ...

The Chamber of Petroleum Consumers (COPEC) has projected a slight reduction in fuel prices as the second pricing window of November begins on Saturday, November 16. According to COPEC, the retail price of petrol is expected to decrease by 5.06%, dropping from the current average pump price of GHȼ14.30 per litre to a range of GHȼ12.90 to GHȼ14.26 per litre. ...

Forty Oil Marketing Companies (OMCs) owning tankers have terminated their relationship with the Tanker Owners Union, citing concerns over lack of accountability and transparency in the union’s leadership. They are also concerned about unresolved issues affecting OMCs’ interests after several attempts and calls for union reform and better governance had failed. The move to sever ties with the union could ...

Former Chair of the Energy Committee of Parliament, Samuel Atta Akyea clashed with the National Democratic Congress (NDC) Edward Bawa over the governing New Patriotic Party (NPP) plan to introduce 2,000 megawatts of solar power into Ghana’s energy mix. According to the NPP Manifesto, this is one of the surest ways to cut Ghana’s dependency on hydro and thermal energy ...

Ghana’s ambitious Petroleum Hub Project, an initiative of President Nana Addo Dankwa Akufo-Addo, continues to take significant steps toward transforming the nation’s petroleum downstream sector into a modern, diversified, and financially sustainable “energy economy.” The Petroleum Hub is expected to ensure that all homes and industries in Ghana have access to reliable, affordable, and environmentally sustainable energy supply while creating ...

The Vice President and Flagbearer of the NPP, Dr Mahamudu Bawumia, has reiterated his commitment to creating a friendly economic environment for businesses and the private sector to thrive and drive the transformation of the economy under his Presidency. At a special dinner last night, which brought together CEOs of companies and other key players of the private sector, to ...