• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana Gas to complete acquisition of Ghana Cylinder Manufacturing Company by end of first quarter 2024

2 years ago
in Business, Energy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
349
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana Gas to complete acquisition of Ghana Cylinder Manufacturing Company by end of first quarter 2024

Ghana Gas Company is poised to finalize its acquisition of Ghana Cylinder Manufacturing Company Limited by the end of the first of 2024.

The move, authorized by President Akufo-Addo in April 2023, follows years of reported losses, including a significant GH¢4 million deficit in 2021 by the Ghana Cylinder Manufacturing Company.

A comprehensive assessment by the Auditor-General underscores the precarious financial position of Ghana Cylinder Manufacturing Company, highlighting its inability to fulfill immediate financial obligations.

Ms. Genevieve Sackey, Managing Director of Ghana Cylinder Manufacturing Company Limited, revealed the imminent acquisition during a Public Accounts Committee (PAC) session held in Accra on Tuesday.

“We are in the process of an acquisition. Currently, we are in the final stages, with the document awaiting review by the Ministry of Finance before being forwarded to the cabinet. We anticipate that by the end of the first quarter, the acquisition will be completed by Ghana Gas,” she affirmed.

This strategic move signifies a pivotal step in Ghana’s industrial landscape, with implications for both entities and the broader economy. As the acquisition progresses through regulatory channels, stakeholders await further developments, underscoring the evolving dynamics within Ghana’s corporate sector and the government’s proactive measures to address financial challenges in key industries.

RelatedPosts

Ghana’s Banks not Lending Enough to Sectors That Matter Most

Luxury Tourism is a Risky Strategy for African Economies, New Study Says

IMF Isn’t Doing Enough to Support Africa; Billions Could Be Made Available Through Special Drawing Rights

 

Tags: Ghana Cylinder Manufacturing CompanyGhana GasGhana Gas to complete acquisition of Ghana Cylinder Manufacturing Company by end of first quarter 2024
No Result
View All Result

Highlights

FirstBank Ghana Commits GHS 200,000 to Community Projects Under 2025 CR&S Week

African Development Bank President Ould Tah Tackles Financial Reform in Push for Development

OSP Invites DVLA CEO Over Alleged GHS 4m Bribery Attempt Linked to Digital Vehicle Plate Rollout

Standard Chartered Zambia Signs Agreement to Sell Wealth & Retail Banking Business to First National Bank Zambia

Vinicius Jr. Apologizes for Clásico Outburst, Leaves Out Coach Alonso

Rabat Set to Host African World Cup Playoffs Next Month

Trending

Business

Ghana’s Banks not Lending Enough to Sectors That Matter Most

October 29, 2025

Ghana’s Banks not Lending Enough to Sectors That Matter Most Bank lending is a major source of...

Luxury Tourism is a Risky Strategy for African Economies, New Study Says

October 29, 2025

IMF Isn’t Doing Enough to Support Africa; Billions Could Be Made Available Through Special Drawing Rights

October 29, 2025

FirstBank Ghana Commits GHS 200,000 to Community Projects Under 2025 CR&S Week

October 29, 2025

African Development Bank President Ould Tah Tackles Financial Reform in Push for Development

October 29, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.