The safekeeping and custodian advantage
A NEW THINKING
WEDNEDAY 29 March 2023 Issue No. 32
of Ghana indicate that Ghana’s public debt stock still remains constant at GH¢575.7 billion at the end of November 2022. By this, Ghana’s total public debt stock increased from about GH¢467.4 billion in September 2022 to about GHC575.7 billion in November 2022. According to the latest Bank of Ghana’s Summary of Macroeconomic and Financial Data for the period
Ghana’s public debt stock still at GH¢575.7bn 2
of about GH¢575 billion still puts Ghana’s debt to Gross Domestic Product (GDP) ratio at 93.5% as of November 2022. Per the data, the country’s domestic debt, still stands at GH¢194.7 billion at the end of December 2022, representing 31.6% of GDP. This is compared to GH¢195.7 billion recorded in September 2022, and ¢193.1 billion in November 2022. Already, government has taken steps to restructure its domestic debt through the Domestic debt exchange program which closed on Friday 10th February 2023 with over 80% participation of eligible bonds. The external component of Ghana’s
Tullow leadership team Economic crisis: US to seek Paris Club’s tour Orsam Fabrication support for Ghana Yard and Skandi Africa The National Private Electricity Vendors Association has passionately appealed to the Electricity Company of Ghana to reconsider the new minimum quota level of ¢20000. This follows an increase in the minimum quota purchase per meter tive March 1, 2023. A letter signed by the Managing Director of the ECG, Samuel Dubik Mahama, pointed out that this is to ! reduce the volume of daily transactions and also to quicken the processing of quota purchased by individual vendors. But the National Private Electricity Vendors Association in a statement said vendors who have now cause inconvenience to ECG customers within their localities because they will then have to travel to other areas to purchase credits for their meters.
“With due respect, may we request you to consider not to increase the minimum quota level to the ¢20,000. We fervently appeal that you maintain the current quota purchase of ¢5000 per meter , since the change will have tremendous impact on vendors as well as customers within the communication countrywide”. Also, it said with even the current minimum level some vendors & have dropped from operating from their locality simply beto raise enough capital for their operations, pay for shops rent, utilities and cashiers they have employed. “Some vendors are also operating more than one meter system because of their locations either on boundary with other meters installation or ECG Districts boarders”, it mentioned. “Again not all vendors will have
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Kasapreko, Group Chairman receive Presidential Honour at 2023 National Honours and Awards 2
Members of the Tullow Ghana (TGL) leadership team, led by Managing Director Wissam Al-Monthiry, have undertaken a day-long working tour of the Orsam Fabrication Yard and subsea installation vessel Skandi Africa, in Takoradi. The visit provided an opportunity for TGL leaders to inspect complex subsea infrastructure currently under fabrication, as well as ongoing preparations for
installation by Skandi Africa. These installations form part of execution works for the Jubilee ment project, and the visit preceded commencement of installation activities. In its full year results issued on 8th March, 2023, Tullow exthe execution of the JSE project, which is on track for the second
half of 2023. The expectation is that this added infrastructure will bring undeveloped reserves online and production to more than 100,000 barrels of oil per day (100 kbopd) before the end of the year. Commenting on the visit, Wissam Al-Monthiry, said the visit to both sites was not only invigorating, but insightful as well.
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