TUESDAY 17 January 2023 Issue No. 3
A NEW THINKING
Debt Exchange Programme deadline extended to Jan 31 Pg
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AfCFTA agreement should be hitting the ground running in these times FBN Bank CEO By Eugene Davis Pg
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Gold for Oil policy to reduce pressure on forex markets, Dr Addison says and payments for half year and annual year for June 2020 and By Eugene Davis the final report, December 2020, Governor Addison was also asked a public interest Central bank governor Dr. Ernest question on the gold for oil proAddison has backed the barter of gramme. gold for oil policy and believes it would help lessen private sector He told members of the commitpressure on the foreign exchange tee that “The idea behind it is market. that if we are able to have this Government last year announced a new policy to buy oil products with gold rather than US dollar reserves. The move, officials say is meant to tackle dwindling foreign currency reserves coupled with demand for dollars by oil importers, which is weakening the local cedi and increasing living costs. Appearing before the Public Accounts Committee of Parliament on Monday to answer questions on the foreign exchange receipts
government-to-government arrangement for crude oil we probably might get it at a cheaper price than what the private sector can do and also because the central bank had already started gold purchasing to boost our reserves, we already have an arrangement where we getting gold for reserves. The idea is to use that part of it to support the oil operation and if this government-to-government arrangement works well, the idea is that the private
NCA approves sale of Vodafone Ghana to Telecel
The National Communications Authority (NCA) has granted a conditional approval for the transfer of the 70 per cent majority shares in Vodafone Ghana to Telecel Group. This is subject to concessions made by Vodafone and representations made by Telecel to the NCA. It is still pursuant to the evaluation of the revised proposal from the Telecel Group. A notice posted on the regulator’s website today ( January 16), said “it would be recalled that in January 2022, the NCA received an applica-
tion from Vodafone Ghana for the transfer of 70 per cent of its majority shares held by the Seller to the Buyer. It said in accordance with due process, the NCA evaluated the application on various criteria and engaged both Vodafone Ghana and Telecel. “The NCA concluded that the request did not meet the regulatory threshold for approval to be granted. “Following the NCA’s decision, the Buyer resubmitted a re-
Africa's energy future targets European investments
vised financial and technical proposal in December 2022 which demonstrated the needed capital investment to extend the deployment of 4G and launch innovative Fintech solutions,” the notice said. It said the NCA found that the revised proposal provided more clarity and certainty in terms of the funding required for the acquisition and the commitments from both the Seller 2
5 banks to go bust if Exchange Programme goes ahead -Ato Forson predicts By Eugene Davis
By Kestér Kenn Klomegâh
By Kestér Kenn Klomegâh The African Energy Chamber (AEC), after holding a successful conference in South Africa, now moving to the United Kingdom. With its target to achieve all-round sustainableinvestment in the energy sector and support for the continent's socioeconomic development and drive economic growth, the African Energy Chamber plans the next business gathering for potential European investment oppor3
tunities across Africa. On January 26, the Waldorf Hilton luxury hotel in London will hold a strategic platform bringing together government officials, ministers, energy experts, actors and stakeholders in the energy sector specifically from Africa and Europe to exchange ideas, share experiences and expertise that would culminate into comprehensive energy sector policies and strategies for developing exportable energy resources 3