Accra, July 12, GNA - The move towards a cashless economy has impacted the way we do business in Ghana presently, says Mr Gbenga Odeyemi, the Managing Director of FBNBank Ghana.
Accra, July 12, GNA- Participants at the Sudan-Ghana Business, Culture and Education Expo have expressed optimism about future trade prospects between Sudan and Ghana based on relations established during the Expo.
Accra, July 12, GNA - Accra, July 12, GNA - Africa lacks the leadership that can help build a strong public sector, which will stimulate the private sector for the continent's socio-economic development, former President John Agyekum Kufuor has stated.
Essikado (W/R), July 12, GNA – Aveng Infraset of South Africa is to establish a factory in Sekondi to produce slippers and other services for the railway industry.
Accra, July 12, GNA - The Ghana Community Network Services Limited (GCNet) has assured its stakeholders of continued commitment to providing quality and innovative e-solutions towards promoting trade facilitation, business development, revenue mobilization and Ghanaian business competitiveness.
Accra, July 06, GNA- President Nana Addo Dankwa Akufo-Addo, on Thursday, pledged his government’s commitment to the exploration and discovery of oil in commercial quantities onshore, specifically in the Voltaian Basin.
In that direction, he commended the bold step taken by the Ghana National Petroleum Corporation (GNPC) to find oil and gas in the Voltaian Basin, saying that Government would lend all the support needed to make the endeavour a success.
President Akufo-Addo gave that assurance in Takoradi at a durbar of stakeholders in the Petroleum industry, government officials and traditional authorities in the Western Region, after turning on the valves on the Floating Production Storage and Offloading Vessel (FPSO) John Agyekum Kufuor to signal the formal production of oil in commercial quantities from the Sankofa oil and gas fields in the Cape Three Points.
The symbolic ceremony was done offshore by the President turning the production valve of the FPSO and opening a Subsea Well Choke.
The President stated that the efficient management of petroleum resources and its associated revenues was a national priority, as the oil industry had become an important contributor to the country’s economy,
He said the Government would, therefore, ensure the judicious management of nation’s oil resources in order to better the welfare of the Ghanaians, promote employment, improve the environment, and strengthen trade and industrial development in the country.
President Akufo-Addo recalled the pledge made by former President John Kufuor then a presidential candidate, to concentrate attention to discovering oil in commercial quantities.
“I believe God will be on our side once again under another NPP administration to strike more oil and gas; President J A Kufuor made it happen off shore, the focus now is also to explore opportunities on shore,” he stated.
“That is why my Government is committed to intensifying efforts towards the discovery of oil and gas on shore in the Voltaian Basin,” he said.
“My government is totally committed to giving Dr K. K. Sarpong and his team all the support they need to make this happen. I have been briefed that all the necessary preparatory work has been done to commence initial seismic survey. “Approval for the award of the contract for the seismic survey will be given soon.”
President Akufo-Addo gave the assurance that the Government would ensure that the petroleum sector remained a significant contributor to financing nationwide industrial development, and thus generate resources that could be used for rapid national development.
He said his Government was laying the basis for continued development of the petroleum sector by ensuring that the oil industry remained an attractive area for investment.
It would also enhance transparency and accountability in the management of the petroleum resources, adding that it was developing the Western Region into an oil services hub and it was aggressively investing in education and skills enhancement of Ghanaians to manage the sector through the “Accelerated Oil & Gas Capacity Development Programme.”
“The accomplishment of these policy objectives will help us fulfill our vision for the energy sector to become a modern, diversified, efficient, and financially sustainable ‘Energy Economy’ that will ensure that all Ghanaian homes and industries have access to adequate, reliable, affordable and environmentally-sustainable supply of energy, to meet their needs and to support the accelerated growth and development we all desire for the country,” he said.
The OCTP integrated oil and gas development is made up of the Sankofa Main, Sankofa East and Gye-Nyame fields, which are located about 60 kilometers off Ghana’s Western Region coast.
The fields has cumulatively, recoverable reserves of about 1.07 TCF of gas, 173 million barrels of oil and about 30 million barrels of condensate.
The Sankofa fields would produce altogether 45,000 BOPD of oil and 170MMSCFD through 18 wells, using the FPSO John Agyekum Kufuor.
A 63-kilometer submarine pipeline would transport gas to Sanzule's Onshore Receiving Facilities (ORF), where it would be received and transmitted for power generation.
The OCTP Project has achieved significant local content development and participation with the fabrication of module stools, risers, jumpers, among others, in Ghana.
Accra, July 06, GNA- President Nana Addo Dankwa Akufo-Addo, on Thursday, stated that his Government would strive to ensure that Ghana becomes the petroleum hub in the Sub-region.
Accra, July 6, GNA – The Institute of Chartered Shipbrokers (ICS) has complained about the high demurrage charges imposed on containers, saying it is a burden for the industry.
Accra, May 22, GNA - The World Bank has signed a 5.5 million-dollar grant agreement with Solidaridad West Africa for natural resources management in 53 selected local communities of the Brong-Ahafo and Western regions of Ghana.
Accra, May 22, GNA – The GCB Bank has announced a partnership deal with government to inject one billion Ghana Cedis into the “One-District, One-Factory” project.
Accra, May 22, GNA - The Monetary Policy Committee has reduced the policy rate by 100 basis points to 22.5 per cent, citing lower risk to inflation and growth.
Accra, May 22, GNA – The Ministry of Trade and Industry, has received more than 150 proposals covering varied economic interests from various parts of the country on the ‘One District, One Factory” policy, as of Friday, May 19.
Accra, May 22, GNA - Mr Kofi Afresah Nuhu, an Industrial Expert at In Investment Service Limited, Monday, recommended that the implementation of the Government’s policy of ‘One District, One Factory’ should be inclusive and sustainable.