Bussiness
Fuel price hikes, weak cedi put airline industry under strain
Players in the Aviation industry say they are hard hit by the high cost of fuel praying for urgent relief from government to cushion them.
From the beginning of the year to now, there has been an increase of 112 percent in aviation fuel, Corporate Affairs Manager of Passion Air, Samuel Takyi, told B&FT.
“With the aviation fuel, for example in May we purchased fuel to the tune of US$350,000 for our operations. In June it shot up to US$750,000,” he bemoaned.
The problem, according to him, is exacerbated by the Cedi slide, as 98 percent of their transactions are quoted in foreign exchange, but tickets are sold in cedis.
“So, once you covert the cedi to dollars you take a hit right there,” he added.
The Institute of Energy Security is predicting an insignificant drop in fuel prices on the Ghanaian market despite the drop in global fuel prices.
IES said this will be so if the cedi remains weak against major trading currencies.
Crude Oil price has dropped by 4% in recent weeks however, the cedi continues to struggle on the forex market as it closed trading close to 10 cedis per dollar.
Source: starrfm.com.gh
Ghanaian dancehall artiste Charles Nii Armah Mensah, known as Shatta Wale, has won two awards at the 43rd International Reggae and World Music Awards (IRAWMA) held in Florida over the weekend.
He picked up the Best African Dancehall Entertainer award as well as Concert of the Year for ShattaFest.
In a statement, Shatta Wale’s management expressed appreciation to the organisers and supporters of the awards.
“Management would like to sincerely appreciate the organisers of the IRAWMA awards for the recognition and continuous support for African music on the global stage.
“We also extend our deepest gratitude to fans across the world, especially the Shatta Movement fraternity, for their unwavering support, votes, and dedication throughout the years,” the statement said.
The statement added that the latest wins reaffirm the artiste’s position as one of Africa’s leading musical exports and a prominent figure in global dancehall culture.
The awards bring Shatta Wale’s total haul at the IRAWMA to 11, highlighting his continued presence on the international reggae and dancehall scene.
At last year’s edition, he won three awards: Best African Dancehall Entertainer, Best Music Video for “Killa Ji Mi”, and Best Crossover Song for “Commando” featuring Bounty Killer. -GNA
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
