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Cancelling AMERI deal could cause judgement debt – Mutawakilu

The Minority Spokesperson on Mines and Energy, Adam Mutawakilu has warned that Ghana risks facing a significant judgement debt if the controversial AMERI power deal is cancelled. His comment comes in the wake of calls for the special committee, set up six months ago to investigate the deal, to present its report to Parliament. Mr. Mutawakilu, claimed that the  Committee ...

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AquaVenture Holdings acquires Teshie desalination plant

American water services company, AquaVenture Holdings, has acquired a majority stake in the Teshie Desalination Plant. Abengoa, operators of the plant signed an agreement with AquaVenture Holdings to transfer 56 percent of its shares in the plant, worth about 26 million dollars. The Teshie Desalination Plant was shut down in 2017 for a renegotiation of the contract with government, which is believed ...

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Report on AMERI deal not ready – C’ttee Chairman

The Committee tasked to investigate the controversial AMERI power deal is yet to present its report to Parliament, six months after it was set up. In August 2017, the Member of Parliament for Adansi Asokwa, K.T Hammond, filed a motion asking Parliament to rescind the earlier ratification of the deal with was signed by the Mahama administration. Prior to the ...

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Gov’t orders suspension of CTN at the ports

Government has ordered the suspension of the Cargo Tracking Note (CTN) at the ports. The directive, follows a meeting held on February 14, 2018, with the Association of Ghana Industries (AGI), and the Ghana Revenue Authority (GRA), chaired by the Vice President, Dr. Mahamudu Bawumia. The CTN was introduced by government to track all imports to Ghana to reduce revenue ...

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Fuel prices drop marginally at the pumps

Checks by Citi Business News at some major Oil Marketing Companies(OMC) show that petroleum prices have dropped by less than one cedi at the pumps. A visit to major oil marketing companies such as Total, Shell and Goil showed that a litre of petrol at each of the stations is now selling at 4 cedis 51 pesewas. This represents a 3.5 percent ...

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IES slams ‘insignificant’ 2% Special Petroleum Tax reduction

A senior Analyst at the Institute of Energy Security [IES], Richard Rockson, is dissatisfied with the marginal reduction in the Special Petroleum Tax from 15 percent to 13 percent. Like some observers, Mr. Rockson insists that the Special Petroleum Tax should be scrapped completely. “When you look through the price build up, it is one of the easiest you can take ...

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COCOBOD condemns takeover of cocoa lands by rubber plantation

The Ghana COCOBOD has condemned the recent and continuous destruction of cocoa plantations by illegal mining companies. The cocoa regulator has also bemoaned the sale of cocoa farm lands to rubber plantation investors by land owners. Some cocoa farmers in the Eastern Region have threatened to embark on a demonstration to register their displeasure over the destruction of about two ...

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Special Petroleum Tax reduced by 2%

Parliament has passed the Special Petroleum Tax Amendment Bill to reduce the tax from 15 percent to 13 percent. The amendment comes after recent protests against the rising cost of fuel, as well as calls from the minority for the Special Petroleum Tax to be scrapped. Speaking to Citi Business News, a Deputy Finance Minister, Kweku Kwarteng, stated that making ...

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Tullow Ghana appoints Kweku Awotwi as Managing Director

Tullow Ghana has appointed Kweku Awotwi as the Managing Director of the company. A statement from the company copied to Citi Business News said Mr. Awotwi will take over from Charles Darku who will be retiring from the company in April after serving for five years. Charles Darku joined Tullow Ghana Limited in 2013, as the first Ghanaian to lead ...

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Steel companies threaten shutdown over high electricity tariff

Steel manufacturing companies in the Tema Industrial Enclave have appealed to government to reduce electricity tariffs before they are forced to close down due to high cost of production. According to the companies, the cost of electricity has almost doubled from 21 pesewas per kilowatt to 42 pesewas per kilowatt in just a year. Speaking to journalists during a tour ...

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