News
Ghana wins $393m Tullow Tax Arbitration
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Ghana has won an international tax arbitration case against Tullow Ghana Limited over the taxation of business interruption insurance proceeds.
The Ministry of Finance said an arbitral tribunal constituted under the Rules of Arbitration of the International Chamber of Commerce delivered its award on Tuesday, September 29, 2026, ruling in favour of the Republic.
According to the Ministry, the tribunal dismissed all claims brought by Tullow and upheld in full the Ghana Revenue Authority’s tax assessment of US$393,091,993.70.
It said the tribunal also found that the tax assessment did not breach Ghana’s Petroleum Agreements, the penalty imposed was properly applied, and the assessment was not time-barred.
The tribunal further ruled that the enforcement action taken by the Ghana Revenue Authority was lawful, the Ministry said.
Finance Minister Dr Cassiel Ato Forson acknowledged the work of the Attorney-General’s Office, the Ghana Revenue Authority and Ghana’s external legal counsel, Foley Hoag LLP, in defending Ghana’s position.
He said the outcome supports the government’s position that all companies operating in Ghana, regardless of their size, are subject to the country’s laws.
The Ministry, however, said the government had been in discussions with Tullow before the tribunal’s decision to find an amicable solution to outstanding tax matters between the two parties.
It said those discussions would continue to cover both the matter decided by the tribunal and a separate case involving the disallowance of loan interest.
The government described Tullow as a vital partner and Ghana’s largest petroleum producer, noting that its operations in the Jubilee and TEN fields contribute to the country’s energy security, domestic gas supply and thousands of jobs.
The Ministry said the government would work closely with Tullow to implement the tribunal’s decision in accordance with Ghanaian law.
It added that the government would consider the need to maintain operations in the Jubilee and TEN fields while ensuring that Tullow can continue making the investments needed to operate in Ghana.
Dr Forson said the government’s approach would be to secure the revenues due to the Ghanaian people while preserving Tullow’s ability to continue operating and investing in the country as a going concern.
By: Jacob Aggrey
President John Dramani Mahama will be joining African heads of state, business leaders, investors and innovators shaping Africa’s next chapter, at the inaugural Alamein Africa Forum scheduled to take place from 2nd to 4th October 2026 in the historic city of Alamein on Egypt’s Mediterranean coast.
The three-day Alamein Africa Forum is established as a permanent African Business Forum to convene biennially in Egypt.
It is to become the continent’s premier gathering where political power meets entrepreneurial prowess, bridging the established engines of African growth with the new sectors defining its future.
Co-organised by the Government of Egypt, African Export – Import Bank (Afreximbank), the African Union and AUDA-NEPAD, it is expected to bring together more than twenty (20) heads of state and government representatives alongside business leaders, bankers and development institutions.
Ghana’s President, who on 23rd September 2026 declared Ghana is open for business in New York after ringing the ceremonial closing bell at the Nasdaq Stock Market will be leading the Ghanaian delegation, to include the Minister for Trade, Agribusiness, and Industry, Elizabeth Ofosu – Adjare, to the forum.
Other members of the Ghanaian delegation are the Head and Presidential Advisor for Ghana’s 24-Hour Economy and Accelerated Export Development Programme, Hon. Augustus Goosie Tanoh, Ghana’s Special Envoy to the Alliance of Sahel States, Colonel Larry Gbevlo – Lartey alongside key Ghanaian private sector players.
Bringing together leaders in politics, business and policy from across the continent, the Alamein Africa Forum will provide a unique opportunity to shape Africa’s growth agenda by aligning policy and investment priorities, mobilising partnerships for implementation and strengthening financing and investment pathways.
The private sector must become an integral part of Agenda 2063, the African Union’s strategic fifty-year masterplan to transform the continent. The private sector is the core economic engine required to turn the African 2063 from an aspirational government roadmap into realized infrastructure, jobs, and value-added trade.
By Chris KONEY
News
Contractors move to site to begin construction of 120-Bed Trauma Hospital at Bole – Felix Kwakye Ofosu
Minister for Government Communications, Felix Kwakye Ofosu, has revealed that contractors have moved to site to begin construction of a 120-bed Specialised Trauma and Emergency Hospital at Bole in the Savannah Region.
According to the Minister, the 16,000 square metre facility will be equipped with modern medical infrastructure to provide emergency and trauma care.
The hospital will have a 24-hour Accident and Emergency Unit, trauma resuscitation bays, emergency operating theatres, an Intensive Care Unit (ICU) and a High Dependency Unit (HDU).
It will also include specialised trauma wards, a burns treatment unit, orthopaedic and surgical units, as well as imaging and diagnostic facilities, among others.
By Edem Mensah-Tsotorme
