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We are not engaged in a dubious deal – TOR management
The management of the Tema Oil Refinery (TOR) has debunked claims of engaging in a murky proposed partnership agreement with the Tema Energy and Processing Limited.
This comes after a directive by the Office of the Special Prosecutor to the management to suspend its proposed partnership agreement.
The OSP, in a letter dated November 21, 2023, and addressed to the Managing Director of TOR, Daniel Osei Appiah, said “It has commenced an analysis of the risk of corruption in respect of the proposed partnership”.
The Office thus directed TOR to furnish all the necessary documentation regarding the proposed agreement on or before the close of Tuesday, December 5, 2023.
Board Chairman of TOR, David Adomako, said the proposal had been reviewed by key stakeholders within the sector.
According to him, the deal has also been subjected to competitive tender.
Speaking at a media engagement, he said the aim of the board is to revive the state-owned company.
“We’ve subjected this deal to competitive tender and evaluated by the TOR board comprised of reputable and highly experienced individual. The proposal was reviewed by the MoE [Ministry of Energy], MoF [Ministry of Finance], SIGA [State Interest and Governance Authority], Attorney General, BOST and the NPA [National Petroleum Authority]”.
“Substance of the proposal has remained constant but changes to the legal identity of the lesser was necessitated by prevailing circumstances and with the knowledge of stakeholders”, he said.
Mr. Adomako also said the deal is aimed at restoring the company to profitable and sustainable refining activity.
He added the deal is to ensure the rehabilitation and improvement of TOR infrastructure.
“The board is just poised to revive the company. We want to restore the morale of the staff and improve on the working conditions and benefits. We are just committed to supporting the company”, he added.
It is unclear what has necessitated this decision by the OSP, but in recent times, the staff of TOR have been up in arms against five of their colleagues and two board members for allegedly registering an entity by the name ‘TOR Workers’ Charity Fund’ to confidentially take up shares in the TOR-Torentco deal without the concerns of the over 500 workers.
Source: Myjoyonline.com
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
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Prophet Courage Heavens set to launch ‘Predestination’ book on March 23
Prophet Courage A. Heavens is set to launch the much-awaited book titled ‘Predestination’ on Sunday, March 23, 2025 at 5:00PM.
The launch, which is expected to impact lives, will take place at Crossgates Ministries, Flattop, off N1 Highway, opposite Angel Hauz.
The book is aimed at addressing the way people struggle to understand how free will and destiny align.
It is also aimed at providing clarity on God’s sovereignty and one’s place in His divine plan.
The various chapters of the book address various issues through scriptures and personal stories.
Committed to impacting society, part of the proceeds from the book will go into Courage Heavens Education Legacy (CHEL), an educational foundation transforming lives.
CHEL is dedicated to providing financial support and mentorship to brilliant but needy students, ensuring they have access to quality education and opportunities for a better future.
Prophet Courage Heavens is a prolific writer and previously authored Eli Eli Lama Sabachthani, a powerful book that encourages unwavering faith in times of trials.
In addition, he has written seven more prophetic and life-changing books that are yet to be published.
He is dedicated to raising the next generation for impactful ministry. As the leader of Crossgates Ministries, he nurtures believers in faith and purpose.
