Last updateTue, 12 Dec 2017 12pm


Ghana to lose US$40b of oil revenue over bad contracts – Expert

A Scotland-trained Ghanaian oil and gas management expert Frank Toledzi has said Ghana needs to go for the production sharing agreement (PSA) rather than the hybrid modern concession one as far as contracts signed with international firms in the oil and gas industry are concerned, if the country wants to get the best out of its oil.

In his estimation, the country could earn US$40 billion more than the US$20 billion projected by the International Monetary Fund and the World Bank, to be earned by the West African country from its oil fields within 20 years.


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2000 workers now bound to lose their jobs by June

The challenging business environment continues to result in more job losses in the industrial sector as the number of affected workers has now quadrupled from the initial five hundred and fifty (550).

Latest information from the Industrial and Commercial workers Union (ICU) indicate that about two thousand (2000) workers are now likely to lose their jobs by June unless the business environment improves.   This is based on the official communication the union has received from about 60 major companies (including both local and multinationals).


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IMF loan, reforms won’t take Ghana anywhere

Dr. Onsy Kwame Nkrumah, a Pan Africanist, has said “the IMF loan and reforms will not take Ghana anywhere”.

He has therefore advised the leadership of the country to quickly organise itself to repay the IMF loan as soon as possible to regain the country’s freedom and restore her sovereignty.

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Govt adjusts 2015 budget for economic prudence

…despite debilitating of international crude oil prices

The Ministry of Finance has intensified measures to realign the 2015 budget following the sharp decline in crude oil prices on the international market.

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Chaos in Parliament as Minority MPs chase Terkper out

There was disorder in Ghana’s Parliament on Thursday as Finance Minister Seth Terkper went to the House to present a reviewed 2015 budget statement.

The Minority lawmakers heckled the Finance Minister and his deputies as Terkper was being ushered in to present the budget.

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