BUSINESS

The Tema Oil Refinery (TOR) has signed an agreement that will see it refine 11 million barrels of crude. The agreement – a tolling crude oil processing agreement between Tema Oil Refinery and Woodfields Energy Resources Limited, a wholly Ghanaian-owned oil trading company, is backed by the world’s largest oil and gas trader. Woodfields Energy’s long history with the Refinery ...

Deputy Minister for Agriculture Kennedy Osei Nyarko says it is not the responsibility of government to promote local rice. According to him, that responsibility lies in the hands of the local processing companies. He also charged processing companies to endeavour to make their brands visible on the market as well as promote the health benefits of locally processed rice as ...

The Bank of Ghana (BoG) says it intends to gradually replace its lower banknotes denominations with coins to reduce its cost of printing. “BoG will also embark on a vigorous campaign among road transport workers, market operators, small businesses, supermarkets, vendors and others to create avenues for the usage of the coins including develop infrastructures for coin usage,” the Central ...

The Peasant Farmers Association of Ghana (PFAG), has recommended a complete ban on the importation of rice into the country to secure the local rice industry. According them there was enough local capacity to meet the rice demand of the country and asked all government institutions to patronise local rice. While praising the government for the move to secure the ...

Newmont Goldcorp’s Ahafo Mine has been named Ghana’s Corporate Social Responsibility Organisation for the year 2018 by the Ghana Investment Promotions Center (GIPC). The company was awarded at this year’s Ghana Club 100 awards held in Accra recently under the distinguished patronage of the President, Nana Addo Danquah Akuffo-Addo. The Ahafo mine received the award for demonstrating exceptional leadership in community ...

A festival of fun and blistering hot discounts, bargains and deals await shoppers and customers of Achimota Retail Centre (ARC), as stores continue to mark down prices to clear their stocks on Black Friday, management has announced. A special edition of the Centre’s popular sidewalk sales which opened on Monday to usher in tomorrow’s shoppers’ carnival has now hit top ...

A member of the Finance Committee in Parliament, Isaac Adongo is questioning the capacity of the Consolidated Bank Ghana (CBG) to serve as receiver for banks whose licenses were revoked by the Central Bank in August 2018. He alleges that the establishment of CBG is what has deepened the woes of the financial sector because of what he feels are ...

The 2020 budget of the government which was presented to Parliament by the Finance Minister, Hon. Ken Ofori Atta was themed “Consolidating the gains for growth, jobs and prosperity for all.” GDP growth stood at 5.7 per cent at the end of Quarter 2 of 2019 relative to 5.4 per cent in the same period of 2018. Non-oil GDP for ...

Ghanaians who are eager to experience the 5G technology will have to wait a while longer because it requires too much investment, the chamber of telecommunications has said. 5G is the fifth generation of cellular network technology. 5G can support up to a million devices per square kilometer, while 4G supports only up to 100,000 devices per square kilometer. The ...

Finance Minister Ken Ofori-Atta is calling for more financing to achieve the Sustainable Development Goals (SDGs). “I encourage both local and foreign businesses and financial institutions to support the financing of the SDGs by directly partnering government and also by injecting funds into private sector projects in businesses that have the potential to bring shared values. “And by leading in ...