BUSINESS

Tullow is expected to drill and complete seven new wells across the TEN and Jubilee fields this year. This would allow gross oil production from Ghana to rise to approximately 180,000 bopd in line with the year’s production forecast. Gross production from Jubilee in 2018 averaged 78,000 bopd (net: 27,700 bopd) slightly below the Group’s November forecast. That was due ...

Blow Chem Industries, manufacturers of Bel-Aqua Mineral Water has dismissed the viral video on social suggesting their product is unhealthy. The company It wants the public to disregard such claims, stating that its products are certified by the Foods and Drugs Authority. In a statement signed by its Head of communication Emmanuel Quist, Blow Chem said: “Management of Bel-Aqua Mineral ...

Many more expositions of investments gone bad have surfaced as Adom 106.3 FM’s morning show has provided the platform for Ghanaians to narrate their stories. Prominent among the narrations was that of a Chartered Account, Kwadwo Ayerh, who alleged that attempts to recoup over 8 million Ghana Cedis investments made by him and some 40 others with Man Capital Partners ...

The Ghana Union of Traders Association (GUTA) is pushing government to review the country’s import duty. According to the association, the woes of local businesses has increased due to the high cost of import duty. GUTA warns that cost of goods on the market will increase further if nothing is done about the situation. The concern follows comment from President ...

Dubai-based Horizon Royal Diamonds DMCC, has denied having any connection with embattled Ghanaian gold dealership firm, Menzgold Company Limited and its CEO Nana Appiah Mensah. In a statement, Royal Diamonds DMCC, said: “Menzgold Ghana Company Limited with its Chief Executive Officer, Nana Appiah Mensah is not in any way connected to Horizon Royal Diamond’s business dealings with Just Gold Company ...

The Minority in parliament has said it is amazed by the government’s attempt to “deceive” Ghanaians into believing that there is a new discovery of 550 million barrels of oil by Aker Energy. According to a statement signed by Mr Adam Mutawakilu, the ranking member of the Mines and Energy Committee of Parliament, the government’s actions and inactions have rather ...

The president of Groupe Nduom, Dr Papa Kwesi Nduom, has denied having any investment in beleaguered gold dealership outfit Menzgold. Menzgold has been at loggerheads with its customers who are demanding payment of their principal investments after the gold dealership company was instructed by the Securities and Exchange Commission to halt their gold trading operations. Reacting to reports that its ...

The Chief Executive Officer of troubled gold firm Menzgold, Nana Appiah Mensah has reportedly breached his bail conditions and absconded, Gabby Otchere Darko has claimed. The disclosure by the President’s cousin comes after a threat by aggrieved customers of the Menzgold that they will vote against the ruling party if the President continues to sit aloof as their investment with ...

The Finance Minister Ken Ofori-Atta is charting a path that is dangerous for the financial sector in the country following the takeover of some indigenous banks by the Bank of Ghana (BoG), Isaac Adongo, Bolgatanga Central MP, has said. According to him, Mr Ofori-Atta is using the BoG to collapse banks owned by sympathisers of the main opposition party, the ...

Some customers of Menzgold Ghana Limited have vowed to stage another demonstration in Kumasi, the Ashanti regional capital of Ghana. The customers are protesting due to their inability to access their locked up funds at the gold dealership firm. The protestors have blocked roads at Amakom and other parts of Kumasi burning tyres to express their anger. They are also ...