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Total signs Senegal agreements

French major Total has signed two agreements with Senegal, allowing the firm to explore in Senegal’s deep and ultra-deep offshore. “These agreements are part of the company's strategy to carry out exploration activities in new deepwater basins in Africa and leverage our world renowned expertise,” said Patrick Pouyanné, chairman and CEO, Total. The first agreement involves an exploration and production shari ...

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GCB votes GH¢1b for 1D-1F projects

GCB Bank Limited has allocated GH¢1.0 billion in support of the government’s “One District, One Factory” policy. The Bank will also offer an array of price concessions for businesses that will operate under the policy initiative. The Managing Director of the Bank, Mr Anselm Ray Sowah, who announced the package explained that “with 161 branches across the country and with presence in every region and most di ...

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ECG concession: First bidders’ conference held in Accra

The first Bidders’ Conference on the concession for the Private Sector Participation (PSP) in the electricity distribution business of the Electricity Company of Ghana (ECG) has been held at the Alisa Hotel in Accra. The ECG PSP transaction is one of five activities under the ECG Financial and Operational Turnaround Project funded through the Ghana Power Compact. The event, organized by the Millennium Devel ...

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Agric ‘cool’: Mahama to Africa’s youth

Former President John Mahama has encouraged young people in Africa to take up agriculture because the occupation can be “cool” and, with support from governments, profitable. Using his life experience as an example, Mr Mahama told an audience in India on Monday, 22 May that “using the PF model, we hold up successful farmers to their peers and it encouraged them to follow”. “When we worked on my dad’s farm, ...

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Policy rate drops to 22.5%

The Monetary Policy Committee of the Bank of Ghana (BoG) has reduced the policy rate from 23.5 per cent to 22.5 per cent. According to the BoG, during the period under review, there was growth in economic activities in the country due to a booming private sector. The central bank said on Monday, 22 May that: “The Committee noted that the pace of economic activity has picked up, driven mainly by growth in pr ...

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Gold Fields takes 10% in Australian JV partner

Gold Fields has taken a 10% shareholding in ASX-listed joint venture (JV) partner Gold Road Resources. Gold Road on Friday announced that Gold Fields had acquired some 74.8-million shares in the company, at 86c each, representing a premium of 27% to Gold Road’s closing price on May 18. The two companies in November last year struck a A$350-million deal to jointly develop the Gruyere gold project, in Western ...

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Skill Link has destroyed local contractors’ chance – Dapaah

Skill Link Limited, the company undertaking the Wa Airport project, has reduced confidence in local contractors vying for government contracts, Cecilia Dapaah, Minister of Aviation, has said. According to her, the company shoddily carried out a contract the previous government awarded to it to refurbish the Wa Airport. Mrs Dapaah has, therefore, ordered the suspension of payments to the company until the de ...

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Tema: Robbers shoot and rob businessman

A Tema-based Burkinabe business man was shot in broad day light after which robbers snatched an amount in excess of GHS1.8m from him. The incident is reported to have occurred on Saturday, May 20 at Tema Community 4 Republic Road around 7:30pm. The victim was accosted by some assailants on motorbike who shot him in the right thigh before bolting with the money which was sales from his business. Kwame Ampons ...

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Akufo-Addo to grace 42nd MTN-SWAG Awards

President Nana Addo Dankwah Akufo-Addo will be the Special Guest of Honour at the 42nd Sports Writers Association of Ghana (SWAG) Awards Night to be held in Accra. The MTN-SWAG Awards, scheduled for Saturday May 27, 2017 at the Banquet Hall of the State House, would attract the crème de la crème of Ghana sports and corporate heavyweights. It will be used to honour and celebrate distinguished sportsmen and s ...

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Dangote, Adenuga richer than Trump

Africa’s richest man Aliko Dangote and Mike Adenuga, both Nigerians, are individually richer than American president and businessman Donald Trump. According to the 2017 Forbes rich list, Mr Dangote is worth $12.2billion and is the 105th richest person on earth. Mr Dangote is famous in the cement business and also owns businesses in rice and sugar production, among others. Mr Dangote’s compatriot, Mr Adenuga ...

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