BoG defends financing of gov’t expenditurefor last year

Engen, Vivo Energy merge their Africa businesses

The combined group will have over 3,900 service stations and more than two billion litres of storage capacity across 27 African countries.

Engen is the clear market leader in South Africa with about 1,300 service stations across seven African countries while Vivo Energy on the other hand is a major pan-African retailer and distributor of fuels and lubricants to retail and commercial customers, with over 2,600 service stations across 23 African countries using the Engen and Shell brands. further noted that “PETRONAS will sell its 74 per cent shareholding in Engen to Vivo Energy at completion.

The Phembani Group, PETRONAS’ long-standing partner in Africa and Engen’s B-BBEE shareholder, is continuing its strong association with Engen and will remain invested as a 21 per cent shareholder in the South African business.”

The transaction is expected to further benefit employees of Engen through a newly implemented five per cent employee share ownership programme, resulting in Engen South Africa being 26 per cent owned by pre- ported the bank’s financing of the government in 2022 as a crisis management tool to help keep government machinery running and the economy together.

BoG said while the IMF and the central bank saw the lending to be “suboptimal,” “it was agreed that this temporary arrangement was needed.” financing of the government in 2022 that it was inaccurate that the IMF came and uncovered the extent of the deficit financing.

The central bank has come under pressure in recent times over its decision to support the government’s budget in 2022, with some describing the decision as reckless.

On a net basis, the BoG last year

Burkina Shippers Council opens

in Ghana to boost transit trade

The Burkina Faso Shippers Council has opened an ultramodern office complex at the Tema Port enclave to facilitate transit trade between Ghana and Burkina Faso.

Al Hassane Sienou, the Board Chairman, Burkina Shippers

Council, said the office was built as part of a vast infrastructural programme embarked on by the governing body of the Council through its strategic development plan.

Mr Roland Somda, the Minister of Transport, Burkina Faso, said the