business news

Anthropic files for US stock market listing with valuation of more than $1.5tn
business

Anthropic files for US stock market listing with valuation of more than $1.5tn

Market debut of AI company behind Claude chatbot will be one of largest in US history, a test of its financial viability Anthropic has publicly filed for a stock market listing, one of the largest debuts in history. The company’s float on the US market is likely to be a high-water mark in the multitrillion-dollar AI boom and a test of its financial viability.

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‘You need people, not money’ – Expert urges young people to explore agribusiness
business

‘You need people, not money’ – Expert urges young people to explore agribusiness

Executive Director of the Centre for Climate Change & Food Security (CCCFS) and Director of WAJESHA, Engr Mahmud Mohammed-Nurudeen, says he has trained, advised and guided nearly 300 people in 2026 alone to consider opportunities in the agricultural sector. “Sometimes, you don’t need money at the first point; you need people,” he told participants at an Agribusiness Incubation Workshop organised by residents of Jacob Jonas Nortey Hall at Valley View University’s Oyibi campus on Friday, 23 October 2026.

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GPHA celebrates industry excellence at 40th Anniversary Awards Night
business

GPHA celebrates industry excellence at 40th Anniversary Awards Night

The Ghana Ports and Harbours Authority (GPHA) has honoured outstanding customers, stakeholders and individuals for their contributions to the growth of Ghana’s maritime industry at a special Industry Awards Dinner held on Friday 23rd October, 2026 as part of activities marking the Authority’s 40th Anniversary celebration. The Chairman of the GPHA Board of Directors of GPHA, Johnson Asiedu Nketiah in his remarks, said the awards ceremony provided an opportunity to celebrate the individuals and institutions whose commitment, professionalism and partnership have contributed significantly to the…

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EchoHouse founders Beryl and Bright Agyekum-Ayaaba graduate as joint valedictorians
business

EchoHouse founders Beryl and Bright Agyekum-Ayaaba graduate as joint valedictorians

Nearly two decades after turning a university magazine into EchoHouse, a marketing agency operating in eight countries, married founders Beryl Agyekum-Ayaaba and Bright Mamud-Ayaaba have reached another milestone in their journey together, graduating as joint valedictorians from a Master of Business Creation programme. Beryl serves as Founder and Chief Executive Officer of Echo House Ghana Limited.

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TOR revival boosts Burkina Faso fuel supply through Ghana to 40% – Kombat
business

TOR revival boosts Burkina Faso fuel supply through Ghana to 40% – Kombat

The share of Burkina Faso’s petroleum product movements through Ghana has increased from 15 per cent in 2024 to 40 per cent, as the Tema Oil Refinery (TOR) and other petroleum sector institutions strengthen Ghana’s role as a regional fuel supply hub. “TOR’s close working relationship with NPA, BOST and other Petroleum Service providers has ensured Burkina Faso’s National Oil Company has increased its petroleum products movement through Ghana from 15% in 2024 to 40% as at today,” he said.

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business

Aggregate spending on infrastructure across Ghana, 3 others to increase to $96bn in 2050 – PwC Global Infrastructure Outlook

Africa will experience the fastest annual growth in infrastructure spending of any region over the 25-year forecast period, according to PwC Global Infrastructure Outlook 2026. Aggregate annual spending across Ghana, Kenya, Nigeria, and South Africa is projected to increase from $54 billion in 2024 to $96 billion in 2050, a 77% increase.

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TOR clears six-year audit backlog, submits seven financial reports to SIGA
business

TOR clears six-year audit backlog, submits seven financial reports to SIGA

The Tema Oil Refinery (TOR) has cleared its backlog of audited financial statements covering 2019 to 2024, bringing an end to six consecutive years without completed audited accounts, Managing Director Edmond Kombat has announced. Speaking at the Government Accountability Series at Jubilee House on Monday, October 26, 2026, he said the company had submitted seven audited financial reports to the State Interests and Governance Authority (SIGA), restoring its financial reporting obligations to date.

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TOR recovery creates 1,657 permanent and temporary jobs, and over 6,500 indirect jobs – Kombat
business

TOR recovery creates 1,657 permanent and temporary jobs, and over 6,500 indirect jobs – Kombat

The recovery of the Tema Oil Refinery (TOR) has created 1,657 permanent and temporary jobs, with more than 6,500 indirect and temporary workers also engaged during turnaround maintenance, Managing Director Edmond Kombat has disclosed. Mr Kombat said the planned expansion of TOR would support additional economic opportunities as Ghana sought to increase domestic refining capacity.

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TOR records 216% increase in product storage volumes between 2024 and 2026
business

TOR records 216% increase in product storage volumes between 2024 and 2026

The Tema Oil Refinery (TOR) has recorded a 216.19 per cent increase in product storage volumes between 2024 and 2026, as management intensifies efforts to restore the refinery’s commercial operations and strengthen its role in Ghana’s petroleum supply chain. He said the refinery’s recovery had been supported by collaboration with institutions including the National Petroleum Authority, the Ghana National Petroleum Corporation, GOIL and the Bulk Oil Storage and Transportation Company.

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TOR says GH¢10bn accumulated losses, US$517m debt confronted under new management
business

TOR says GH¢10bn accumulated losses, US$517m debt confronted under new management

The Tema Oil Refinery (TOR) had accumulated losses of approximately GH¢10 billion and debt of about US$517 million when the current management assumed office in May 2025, Managing Director Edmond Kombat has disclosed. Mr Kombat said TOR owed approximately GH¢200 million to the Ghana Revenue Authority and GH¢20 million to SSNIT, alongside outstanding amounts due to the Electricity Company of Ghana, Ghana Water Company and other creditors.

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TOR targets 55,000 barrels per stream day as F-61 crude heater work continues
business

TOR targets 55,000 barrels per stream day as F-61 crude heater work continues

The Tema Oil Refinery (TOR) is working to increase its crude-processing rate from approximately 28,000 barrels per stream day to between 45,000 and 55,000 barrels per stream day, Managing Director Edmond Kombat has announced. Speaking at the Government Accountability Series at Jubilee House on Monday, October 26, 2026, Mr Kombat said the work was expected to improve the performance of the Crude Distillation Unit (CDU) and move the plant towards its nameplate capacity.

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TOR receives over 5 million barrels of crude after zero receipts in 2024
business

TOR receives over 5 million barrels of crude after zero receipts in 2024

The Tema Oil Refinery (TOR) has received more than five million barrels of crude oil following a period in which it recorded no crude receipts in 2024, Managing Director Edmond Kombat has disclosed. Speaking at the Government Accountability Series at Jubilee House on Monday, October 26, 2026, Mr Kombat said TOR had received several crude cargoes since the recovery programme began, including shipments of Ghanaian indigenous crude.

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TenTrade in Lagos: A conversation about education and the future of trading.
business

TenTrade in Lagos: A conversation about education and the future of trading.

Ahead of TenTrade’s “One Community, One Future” seminar on November 7th, we spoke with Andreas Andreou, Partner & Chief Revenue Officer; Obasi Wilfred, Regional Director, Africa; and Ademola Adeagbo, Head of Education, Africa. Andreas Andreou: If we want a lasting presence in Africa, we need to invest time in meeting people and understanding their expectations.

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From vision to abandonment: Nigeria’s unfinished development, By Dipo Baruwa
business

From vision to abandonment: Nigeria’s unfinished development, By Dipo Baruwa

From vision to abandonment: Nigeria’s unfinished development, By Dipo Baruwa. …addressing Nigeria’s challenge of abandoned projects demands more than increased funding or renewed political rhetoric. By embedding these principles into the country’s development framework, Nigeria stands a better chance of breaking the cycle of unfinished ambitions, both physical and programmatic,

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European gas prices soar to four-year high over winter supply fears
business

European gas prices soar to four-year high over winter supply fears

Jump fuelled by fears of further Middle East supply disruptions amid reports of US-Israeli plans to strike Iran European gas prices have jumped to levels not seen since 2022 as fears continue to grow around the continent’s supply this winter and ongoing conflict in the Middle East. Wholesale gas prices hit €97 (£81) per megawatt-hour on Monday, as temperatures across Europe fell and traders priced in stronger demand for heating.

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MTN Ghana rewards over 30,000 customers as nine others win Toyota Land Cruiser Prados
business

MTN Ghana rewards over 30,000 customers as nine others win Toyota Land Cruiser Prados

MTN Ghana has rewarded more than 30,000 customers with cash prizes, while nine subscribers have won brand-new Toyota Land Cruiser Prados as part of activities marking the company’s 30th anniversary. At a presentation ceremony in Accra, Senior Manager for Consumer Marketing at MTN Ghana, Sandra Adu Antwi, said the promotion was designed to give back to customers as part of the company’s anniversary celebrations.

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Ruto Announces Sh70bn Cement Factory in Kitui, Says Project Will Create 4,000 Jobs
business

Ruto Announces Sh70bn Cement Factory in Kitui, Says Project Will Create 4,000 Jobs

KITUI, Kenya, Oct 26, 2026 — President William Ruto has announced plans to launch a Sh70 billion cement and clinker factory in Ngaaie, Mwingi North Constituency, Kitui County, on Tuesday, in a project expected to create 4,000 jobs and boost economic activity in the region. The President also launched construction of the 55-kilometre Twimiwa-Tseikuru-Usweni road in Mwingi North Constituency.

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Customs urges importers, exporters to minimise documentation errors to enhance efficiency
business

Customs urges importers, exporters to minimise documentation errors to enhance efficiency

The Customs Division of the Ghana Revenue Authority (GRA) has urged importers, exporters and other actors in Ghana’s international trade ecosystem to minimise documentation errors, cautioning that inaccurate or incomplete declarations contribute significantly to delays in Customs processing and ultimately increase the cost of doing business. Rubben Kwaku Satu, Esq., Supervisor at the Customs Technical Services Bureau (CTSB) and officer in charge of Strategy, Planning, Monitoring and Evaluation, identified the lack of supporting documentation for declarations and appeals; data-entry errors…

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