B&FT – Oil and gas training equipment remain in stores …World Bank report.

Oil and Gas equipment procured for the training of artisans for the upstream and downstream sectors of the industry, in line with government’s local content drive, is still sitting in the warehouses of three training institutions.

The equipment, procured under a World Bank US$57 million Ghana Oil and Gas Capacity Building Programme, is meant to strengthen local technical capacity in Ghana’s emerging oil and gas sector.

However, the equipment have remained locked up.  The World Bank, in its report titled, Status of implementation of World Bank Supported Projects in Ghana published in the B&FT on Tuesday noted that: Component B1 (Vocational Education continues to experience implementation challenges because of delays in installing equipment already procured and delivered to the three vocational training institutions.

Cedi reverses dollar rout

…gains 1 percent in historic run

The local currency has maintained its superb run against the US dollar since the second week of March, eroding all the losses it incurred since the start of the year and even rising by one percent.

As at March 9, the cedi was trading at GH₵4.6 to the dollar, representing an 8.6 percent year to date depreciation.

But following a GH₵1 billion three year bond sale to only domestic investors at a yield of 21.5 percent on March 10, there has been no turning back for the local currency.

The cedi has persistently risen against the dollar and on Wednesday reached on historic point where it overturned all its losses, making the GH₵4.16 exchange rate the lowest since December 23, last year, when it traded at GH₵3.15.

 

Revive Tema Shipyard- Maritime expert

The vice president of the Maritime Professionals, Club (MPC), Ing, Teddy Mensah, has urged government to revive the Tema Shipyard the vessel repair and maintenance facility at the Tema Harbour enclave in order to harness the abundant opportunities in marine transport.

Today, we are struggling to make sense of our economic balance sheet while several institutions in the maritime sector, which could be effectively harnessed to contribute to the economic growth of this country, remain dormant or defunct, he said at the maiden Ghana Maritime and Shipping Awards in Accra.



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