The Institute for Energy Security (IES) has projected a significant increase in the cost of petroleum products, estimating that petrol, diesel, and Liquefied Petroleum Gas (LPG) prices will rise by 7% to 13% starting February 1, 2023. Under this forecast, consumers should expect petrol to sell for approximately ¢15 per litre, while diesel is expected to exceed ¢17 per litre. …

The Ghanaian government has formally authorized the entry of pork and several other meat products from the United States into the local market. This development follows an official agreement between Ghana’s Ministry of Food and Agriculture and the U.S. Department of Agriculture (USDA), specifically accepting export certificates that cover poultry, beef, lamb, and goat in addition to pork. While the …

A Nigerian national has been apprehended by the Customs Division of the Ghana Revenue Authority at the Aflao border for attempting to smuggle a large sum of counterfeit currency into the country. The suspect, 57-year-old Aremu Timothy Adegboyega, was intercepted along an unapproved route known as “Beat Zero” while traveling as a passenger on a motorcycle. Upon searching his backpack, …

In a significant shift for the Ghanaian telecommunications landscape, the National Communications Authority (NCA) granted conditional approval in January 2023 for the transfer of Vodafone’s 70% majority stake in Ghana Telecommunications Company Limited to the Telecel Group. This decision followed an earlier rejection of Telecel’s bid. The NCA initially cited a failure to meet regulatory thresholds but reversed its stance …

Takeoff, a member of the rap group Migos, has tragically passed away at the age of 28. The rapper, born Kirshnik Khari Ball, was fatally shot at a bowling alley in Houston early on November 1, while he and Quavo were playing dice. Takeoff was pronounced dead at the scene, while two others were injured and taken to the hospital. …

Cocoa farmers in Gyampokrom, located in the Sehwi Juaboso District of the Western North Region, have threatened to smuggle their harvests into Ivory Coast as a response to intensifying economic challenges. The farmers, who operate near the border, warned that they are prepared to take this drastic action if the government does not significantly increase the producer price of cocoa …

Richard Ohene Kumah, a veteran kente weaver and CEO of Ohene Kumah Enterprise, has warned that Ghana’s iconic kente industry faces a potential collapse if the government does not intervene to address critical challenges. Speaking from his base at the National Museum of Ghana, Mr. Kumah explained that the industry is being undermined by a lack of institutional support and …

Leading cement manufacturers in Ghana, including the industry giant GHACEM, have implemented price hikes for 50kg bags effective August 30, 2022. This adjustment reflects the growing economic pressure on producers who are struggling to maintain operations amidst a volatile macroeconomic environment. GHACEM New Price List (Distributors) The updated wholesale prices for GHACEM’s various product lines are as follows: Product GradeNew …

In a significant move to stabilize the local currency, a joint task force comprising the Bank of Ghana and the Ghana Police Service apprehended over 76 illegal foreign exchange dealers during a targeted raid in Accra. The operation focused on notorious “black market” hubs within the Central Business District, including Tudu, Makola, and Rawlings Park. These unauthorized dealers are accused …

Leading Oil Marketing Company, GOIL, has issued a formal statement categorically denying allegations of cheating customers and has reassured the public of its commitment to providing value for money. This response follows media reports suggesting that its Ridge Service Station in Sunyani, Bono Region, had been closed by the National Petroleum Authority (NPA) for fuel volume discrepancies. GOIL clarified that …

In a coordinated enforcement operation, the National Petroleum Authority (NPA), working alongside the Ghana National Fire Service and the Ghana Police Service, dismantled an unauthorized cylinder refurbishing plant in Makola, Accra. The raid, which took place on Friday, September 16, 2022, led to the arrest of seven suspects who were caught restoring damaged LPG cylinders and reselling them to the …

Global oil prices have retreated below the $90 threshold as intensified fears of a worldwide recession weigh heavily on market sentiment. On the morning of September 19, 2022, Brent crude traded at $89.17 per barrel, while West Texas Intermediate (WTI) fell to $84.20. This downward trend marks a significant shift, as the commodity dropped below $90 in early September for …

The National Petroleum Authority (NPA) has taken decisive action in the Bono Region by locking several pumps at three prominent filling stations in Sunyani. During a surprise inspection, officials discovered that Frimps Oil (Penkwase), Goil (near Eusbett Hotel), and Engen were dispensing fuel in quantities lower than what consumers were paying for. The most severe case was at Frimps Oil, …

The National Petroleum Authority (NPA) has initiated a rigorous enforcement action against the directors and shareholders of 45 Oil Marketing Companies (OMCs) to recover outstanding debts exceeding ¢400 million. These funds consist of statutory margins and levies, including ¢68 million from the Primary Distribution Margin Fund, which were collected from consumers at fuel pumps but never remitted to the regulator. …

Popular Ghanaian media personality Berlinda Addardey, widely known as Berla Mundi, has officially signed a 15-month brand ambassadorial agreement with the rapidly expanding furniture firm Doğtaş Exclusive. The partnership links the award-winning presenter with the Turkish furniture giant, which is renowned for its diverse catalog ranging from medical-grade mattresses to international-standard living and office sets. Berla Mundi expressed great excitement …