Continued from Part 2
Why is it problematic for Koa to pay cocoa farmers through mobile money?
Mobile money as a financial system was introduced to support the non-banked population, mostly in rural African agrarian communities, to perform financial transactions efficiently. The basis was that the financial institutions found it...
The managing director of the Bulk Oil Storage and Transportation Company Limited (BOST), Edwin Provencal, has said the company is ready to take advantage of the African Continental Free Trade Area (AfCFTA), after revamping its revenue generating infrastructure.
Provencal made this disclosure when he took his turn on the #PatrioticSpaces...
The current management of the Bulk Oil Storage and Transportation Company Limited (BOST) has serviced the entire debt of the company, ushering a new lease of life to the once struggling state-owned enterprise.
The managing director of BOST Edwin Provencal said the company’s current management has cleared all the monies...
The Ghana Cocoa Board (COCOBOD) has called for scrapping the 35 percent tax on small and medium-scale cocoa processing companies.
The cocoa sector regulator maintained that the tax, known as import duty, is a disincentive to cocoa processing startups and small and medium-scale enterprises (SMEs); and as such, could erode gains in...
Tullow plans to invest US$300million into Ghana in 2023 - out of the group investment of US$400million, primarily in the Jubilee Field.
Investment in Ghana is expected to support production and free cash flow generation for the company, which will further reduce net debt and strengthen Tullow’s balance sheet. Over...
Q: It’s a new year and what should Ghanaians expect from the oil and gas industry with regards to revenue to government, exploration and production?
A: Government will continue receiving royalty, taxes and oil liftings as per the provisions of the Petroleum Agreements it has signed with the different companies...
Regulator surprised by retail investor participation
recent auction undersubscribed by 90%
The Bank of Ghana (BoG) has directed that retail investors who do not want to participate in the rollover of 182-day cocoa bills be paid their maturities which were due on Thursday, January 19, 2023.
This decision, which will...
Asante Gold Corporation, a Canadian-based gold mining company, is forecasting a combined production of approximately 400,000 ounces of gold for 2023 from its Bibiani and Chirano mines.
This should result in some US$771.6million - pegged at US$1,929.02 per ounce as of January 19, 2023 world market prices. Asante's recent increase...
unilaterally rolls over GH¢940m worth of bills
Ghana Cocoa Board (COCOBOD) has defaulted on payments of its matured 182-day bill for the first time, rolling over outstanding securities of GH¢940.4million, albeit without investors consent.
The development led to confusion and concern for investors expecting payments to be made on these...
Cocoa prices are anticipated to move downward in major markets across the globe, as merchants and producers increased net selling positions over the Q1 of 2022/2023 crop season, data from the International Cocoa Organisation (ICCO) have shown.
The global cocoa market attained a value of nearly US$14.5billion in 2022. The...