Employment and Training of Ghanaians, and Succession of Expatriates by Ghanaians in the Petroleum Industry

This newsletter considers the guidelines published by the Petroleum Commission for the implementation of the upstream Local Content Regulations on employment and training of Ghanaians and the succession of Ghanaians to roles occupied by expatriates. Read more here.

SELECTION OF LOCAL PARTNERS FOR THE 5% EQUITY PARTICIPATION IN A PETROLEUM AGREEMENT:
A PREROGATIVE OF THE INTERNATIONAL OIL COMPANY OR THE MINISTER?

In this newsletter we review regulation 4(2) and 4(4) of the Petroleum (Local Content and Local Participation) Regulations, 2013 (LI 2204) (“LI 2204”) to determine whether it gives the Minister of Energy a mandate to select the Indigenous Ghanaian Company (“IGC”) that obtains the 5% local equity participation in a petroleum agreement. Read more here.

TAKE-OR-PAY PROVISIONS IN POWER PURCHASE AGREEMENTS:
THE GOVERNMENT’S POSITION

In the mid-year fiscal policy review of, and supplementary estimates to, the 2019 budget statement, the Minister of Finance stated the Government’s intention to convert take-or-pay obligations in power purchase agreements (PPAs) into ‘take and pay’ obligations. We outline below some thoughts on the implementation of this Government policy. Read more here.

 

Local Content and Participation in the Electricity Supply Industry

This newsletter highlights some of the local content requirements introduced by the Energy Commission (Local Content and Local Participation) (Electricity Supply Industry) Regulations, 2017 (L.I. 2354) which, in line with the national push for a more structured approach to increasing local content and participation, came into force on 22 December 2017. Read more here.

What You Need to Know About Condominiums

Condominiums or condo is a term used in the United States and most provinces in Canada. Condos are more complicated than buying and living in a single family home. You  must understand what it is you are purchasing and whether the lifestyle will suit you and your family. Read more here

How to Lower Tax Liability Arising from Property Sale

Property owners are always concerned about thier potential tax liability arising form the sale of a residential or commercial property and how they can lower their liability or avoid paying tax altogether. This paper will explain with practical illustrations, how an owner of land can sell property and pay little or no tax. Read more here

Regulatory Overview of Equity Capital Markets in Ghana

This is an overview of the Capital Equity Markets in Ghana. Kindly read more here

Public Private Partnership Bill in Ghana

The Public Private Partnership Bill 2016 was laid before Ghana's parliament in 2016 and had reached the consideration stage when the elections were held, but will now have to pass through the legislative process again. The new government has, however, signalled its commitment to pass the Bill quickly, and any amendments are likely to be minor as the Bill is in line with international best practice, and with other PPP legislation in Africa. A procurement process is currently underway for consultancy services for preparing the regulations under the Act, with work expected to begin in October. Read more here

Investing in Ghana

Ghana is often considered a gateway for trade and investment in West Africa. While agriculture still provides employment for more than half of Ghanaians and accounts for almost one-quarter of GDP, Ghana’s industrial base is relatively advanced compared to other African countries and its most important service sectors include trade, transport and storage, and real estate. Read more on Investing in Ghana here.

 

ENERGY AND INFRASTRUCTURE
Classification of New Mine Support Services

Mineral right holders are required to procure certain services from companies registered for that purpose with the Minerals Commission. The Minerals Commission is the regulatory authority responsible for the regulation and management of the use of the mineral resources of Ghana and the co-ordination ofthe policies related thereto. Companies registered with the Minerals Commission to provide mine support services are known as “mine support service providers”. To read more on this article, please click here

JoomSpirit