Although crude production in 2019 went up 15 percent from 62,135,435.07 barrels in 2018 to 71,439,585 barrels, revenue accrued to the Petroleum Holding Fund (PHF) however dropped by some 5 percent within the same period.
The revenue went down to US$925million in 2019 from US$977million in 2018 from Royalties, Carried...
In a ceremony that complied with COVID-19 official meeting and social distancing guidelines, COCOBOD, Japan International Cooperation Agency, JICA, and other Development Finance Institutions have announced a US$600million credit facility for COCOBOD’s Productivity Enhancement Programmes (PEPs).
In November 2019, Development Finance Institutions (DFIs) including the African Development Bank (AfDB), Japan...
Price fluctuations in global crude and refined product prices are taking a heavy toll on Ghana’s downstream markets, resulting in Bulk Oil Distributors losing millions of dollars and throwing many indigenous Oil Marketing Companies out of business.
Out of the 130 oil marketing companies operating in the country, 50 -...
Ghanaian cocoa farmer cooperative, Kuapa Kooko, has lost 80 percent of its majority shares in British chocolate brand, Divine Chocolate, to a strategic investor. Kuapa Kooko Cooperative, which hitherto owned 45% majority shares in the company, would now hold only 20% ownership as Divine Chocolate Limited is sold to a...
The pioneering initiative to train the next generation of cocoa farmers, is expected to bring a significant contribution to the country’s cocoa production, as a total of over 12,000 youth have been trained to venture into cocoa farming and its related businesses, by the MASO programme, being undertaken by...
Ghana supplies 70% of all cocoa beans imported into Japan and cocoa is seen as one of the nation’s most essential import commodities
Ghana Cocoa Board (COCOBOD) and lenders have welcomed the first disbursement of US$200million from a syndicated loan facility to boost cocoa productivity in the world’s second-largest producer.
The...
The Ghana Cocoa Board (Cocobod) said on Tuesday that its annual pre-export financing will be raised as usual through a syndicated loan, denying a report its usual lenders had declined to underwrite the risk.
Loan Pricing Corporation, a unit of financial data firm Refinitiv, reported last week that financing for...
The Association of Oil Marketing Companies (OMCs) has said it will not allow any body other than the industry’s regulators to have oversight of their operations, saying such a move may cause damage to their machines.
This comes on the back of an announcement by the Executive Director of the...
The Chief Executive Officer (CEO) of Ghana Cocoa Board(Cocobod), Mr. Joseph Boahene Aidoo, has hinted at conclusive discussions with President Nana Akufo-Addo to increase the price of cocoa in the coming months this year.
Currently, government buys one bag of cocoa beans from farmers at GH¢515.
The CEO said since the...
Demands accountability on unutilised ABFA
The management of petroleum revenues remains flawed with numerous challenges, ranging from lack of transparency in utilisation of funds and a deviation in the core mandate of the Ghana National Petroleum Corporation's (GNPC), among others, 10 years on from the commercial production of oil...