BUSINESS

Former President John Mahama has asked Vice President Mahamudu Bawumia “why the exchange rate is GHS17 to the dollar?” This is just one of a series of questions that the flagbearer of the main opposition National Democratic Congress posed to his main rival in the 7 December 2024 presidential contest while campaigning in the Northern Region. In Mr Mahama’s view, ...

Ghana may soon source petroleum products from Nigeria’s Dangote Oil Refinery, a move expected to reduce reliance on pricier imports from Europe. Dr. Mustapha Abdul-Hamid, Chief Executive Officer of Ghana’s National Petroleum Authority (NPA), highlighted this potential shift during the OTL Africa Downstream Oil Conference in Lagos on Monday. With Ghana currently spending around $400 million monthly on fuel imports ...

Ghana’s power supply is anticipated to stabilise following a recently renegotiated agreement between the government and Independent Power Producer, Sunon Asogli. The new deal, announced by Finance Minister Dr. Mohammed Amin Adam, seeks to resolve power disruptions that arose from a financial impasse between Sunon Asogli and the Electricity Company of Ghana (ECG). Sunon Asogli’s 560-megawatt power plant had been ...

The Absa Group said it continues to strengthen its commitment to digital innovation and community upliftment through strategic initiatives that deliver tangible, long-term impact. A key component of this commitment, Absa noted, is its ongoing collaboration with Women in Tech South Africa, through which it proudly sponsors the Philippi Village Learning Centre, empowering women and youth with cutting-edge digital skills. ...

The Regional Executives of the Concerned Drivers Association of Ghana (C-DAG) have made an urgent appeal to their National Executives and the Ghana Private Road Transport Union (GPRTU), calling for an immediate 20% increase in transport fares. The plea comes as drivers face mounting financial pressures due to the sharp rise in the cost of spare parts and fuel. In ...

The Africa Centre for Energy Policy (ACEP) has expressed concerns about the ongoing accumulation of substantial debt within Ghana’s energy sector, highlighting that the country is accumulating approximately $67 million each month in unpaid obligations. This rising debt, according to ACEP, is largely a result of the low revenue recovery rate of the Electricity Company of Ghana (ECG), which it ...

The Minister of Communications and Digitalisation Ursula Owusu-Ekuful has announced that all is set for the 5G service to be rolled out from November 1, 2024. The Minister disclosed this during an interview on Peace FM’s Kokrokoo Show with Kwami Sefa Kayi on Wednesday October 2, 2024. Mrs. Owusu-Ekuful noted that the necessary structures have been put in place for ...

Policy Lead for Petroleum and Conventional Energy at the Africa Centre for Energy Policy (ACEP), Kodzo Yaotse, has warned of the growing financial burden posed by Ghana’s legacy debt to Independent Power Producers (IPPs), which threatens the stability of the country’s power sector. Speaking at a media capacity-building workshop in Kumasi, Yaotse detailed how accumulated debts, poor revenue collection, and ...

The Importers and Exporters Association of Ghana has raised alarm over the potential threat posed by illegal mining activities to the country’s agricultural exports. The association warns that if the issue of illegal mining, commonly referred to as galamsey is not urgently addressed, Ghana may face significant challenges in selling its exported food products on the international market, particularly in ...

Ghana’s Minerals Commission has awarded Atlantic Lithium a mine operating permit for its flagship Ewoyaa Lithium Project in Ghana’s Central Region. This permit represents the final regulatory approval needed before the company can begin construction of the project, which includes both the Ewoyaa lithium and the processing plant. Mr Neil Herbert, executive chairman of Atlantic Lithium, described the permit’s issuance ...