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Oil Exploration: Tullow Fails To Make It To Next Round Of Competitive Bidding



Tullow Oil failed to make it to the next stage in the maiden licensing round for oil blocks in Ghana.

The oil company was not shortlisted as part of companies whose bid qualified for the next process in the bidding rounds.

The development comes on the back of a statement issued by the Ministry of Energy on Tuesday [July 2, 2019] announcing the successful bids received for two oil blocks on offer.

The Ministry of Energy has awarded First Exploration and Petroleum Development Company Limited in partnership with Elandel Energy Ghana Limited block 3, while Eni Ghana Exploration and Production Limited in partnership with Vitol Upstream Tano Limited block 2 for exploration.

The decisions were arrived at after evaluating the bids from Tullow Oil, ENI and E and P that were received on 21st May, 2019.

According to the Ministry of Energy, the four companies that have been shortlisted, have been invited over for negotiation on the detailed terms of the Petroleum Agreement pursuant to provisions of the General Petroleum Regulations.

By the latest move, Tullow failed to proceed to the next stage of the licensing round.

Ghana starts competitive bidding for oil blocks

The government, through the Energy Ministry, earmarked six oil blocks for exploration and production.

Three of the blocks; 2, 3 and 4 were to go through a competitive bidding process while two blocks-5 and 6-were supposed to be for direct negotiations.

One of the blocks was however reserved for Ghana National Petroleum Corporation (GNPC).

The bid process, which was ushered in by President Nana Akufo-Addo on October 15, 2018, begun with sixteen (16) companies putting in Sixty (60) applications for the different oil blocks put up by the government.

Blocks 2, 3 and 4 are up for competitive bidding, while Blocks 5 and 6 will be awarded by government after Direct Negotiation with some select oil companies.

by Anita Kissi-Mireku (citibusinessnews)

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West Beats Jay-Z & More On Forbes’ Highest-Paid Hip-Hop Acts Of 2019.



Back in 2007, Kanye West released a song called “Big Brother”—an ode to Jay-Z. Indeed, catching on with the mogul’s Roc-A-Fella Records two decades ago was West’s first big break. Jay-Z even had a hand in coining West’s nickname, Yeezy, which now graces his eponymous shoe line with Adidas.

“There was a beam of light on the idea of me making athletic footwear,” West explainedin an interview for the August cover of Forbes. “A paradigm shift. Like the Yeezy is desired as much as a Jordan.”

The Highest-Paid Hip-Hop Acts 2019

Yeezy is expected to top $1.5 billion in sales this year—or about half of what Nike’s Air Jordan pulls in—boosting West’s pretax income to $150 million over the past year and making him hip-hop’s cash king for the first time ever. Another career first: West out-earned Jay-Z, who ranks second on this year’s list with $81 million, buoyed by the tail end of his On The Run II tour with wife Beyoncé. Drake, the most-streamed artist of any genre, rounds out the top three with $75 million.Today In: Business

#3: Drake, $75 million

All in all, the top 20 acts in hip-hop banked a combined $860 million, up 33% from $648 million last year. The bar for entry is $18 million, the highest it’s ever been. Our numbers represent pretax income from June 2018 to June 2019 before deducting fees for agents, managers and lawyers; figures are based on data from Nielsen Music, Pollstar, Bandsintown and interviews with experts, handlers and some of the stars themselves.

West isn’t the only familiar name to have a career year, even in his own family. Travis Scott, seemingly set to become an uncle to West’s children, rode his Astroworld – Wish You Were Here Tour to a $58 million payday and the No. 5 spot on the list. That’s two places ahead of DJ Khaled, who notched a personal best $40 million annual haul after overcoming his fear of flying in the wake of his son’s birth—and expanded his touring business while adding partnerships with Air Jordan and Luc Belaire.

“Khaled is the guy you want on your team,” says the DJ and third-person enthusiast. “Khaled is a guy that is going to hit that home run ‘cause his work ethic is incredible. His heart is in the right place. His mindset is focused. He's ahead of his time.”

Live music, however, isn’t the only path to profit. Diddy (No. 4, $70 million) raked in the bulk of his bucks from his lucrative deal with Diageo’s Ciroc vodka; Birdman (No. 16, $20 million) owes his payday to his appropriately-titled label Cash Money Records; and Nas (No. 18, $19 million) returns to the list for the second-straight year thanks largely to multimillion-dollar exits in startup investments like PillPack and Lyft.

#13: Cardi B, $28 million

There are two newcomers on this year’s list. The highest-paid among them is Donald Glover (No. 10, $35 million), who padded his coffers with his work on Atlanta and his This Is America Tour (as Childish Gambino). Cardi B (No. 13, $28 million) follows close behind—at age 26, she’s the youngest artist in this year’s rankings—and joins Nicki Minaj (No. 12, $29 million) as one of only two women on the list, the latest example of a pay gap that has long plagued hip-hop.

Though Minaj recently announced plans to retire, there are plenty of young female emcees who should soon be pushing for spots on the list. Among those to keep an eye on: Meghan Thee Stallion, Tierra Whack and Rico Nasty, all of whom are in the midst of building lasting fan bases. Or, as the latter put it to Forbes earlier this year: “This is my opportunity to make these people lifelong friends.”

#1: Kanye West, $150 million

Scroll down for the full list below.

The World's 20 Top-Earning Hip-Hop Stars 2019

20. Pitbull ($18 million)

19. Wiz Khalifa ($18.5 million)

18. Nas ($19 million)

17. Future ($19.5 million)

16. Birdman ($20 million)

15. Meek Mill ($21 million)

14. Swizz Beatz ($23 million)

13. Cardi B ($28 million)

12. Nicki Minaj ($29 million)

11. J. Cole ($31 million)

10. Childish Gambino ($35 million)

9. Migos ($36 million)

8. Kendrick Lamar ($38.5 million)

7. DJ Khaled ($40 million)

6. Eminem ($50 million)

5. Travis Scott ($58 million)

4. Diddy ($70 million)

3. Drake ($75 million)

2. Jay-Z ($81 million)

1. Kanye West ($150 million)

(Source: )

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Ghanaian Costumier, Kulaperry Introduces His Own Currency.



Entrepreneurs come into the business scene every day, and many of them have ideas which are beautifully crafted and which have a face value probability of being market-breakers. However, many of these business ideas may take a very long time to bear any fruits, and many of these entrepreneurs end up giving up prematurely, or making the wrong decisions.

The Chief Executive Officer (CEO) of Kulaperry Outlook Ghana, and a designer of haute couture or Costumier, Prince Boamah Kuleape professionally known as Kulaperry has introduced his own currency ahead of 2020 release of “Fear No Man Collection”.

Named Fear No Man (FNM), the currency will only to be used in the purchasing of Fear No Man collections and attending exclusive events, and per our technical know-how, the currency is believed to provide seamless and effortless online payments  - with maximum speed and limitless scale.

This anouncement was made on the official Facebook handle of Official KulaperryoutlookGh. Fear No Man currency is also expected to enables the customer to add value to their product, as it is believed that, creativity leads to capital, credit, surplus, and even crowdfunding.

See below the various denominations of the currency below;

Kulaperry started the “Kulaperry Outlook” brand because he was sad and worried that the African continent didn’t really have any popular clothing brand available for its people. He says, “It always hurts seeing my people wear second hand clothes”. He says that prior to him starting this brand many wrote him off since clothing brands in Ghana in the past usually came up with a few T-Shirts, which lasts a few months and vanish into the thin air. Kulaperry boldly says, “Fear No Man is here to stay”, he continues, “Fear No Man is for me, you and the whole of Ghana and Africa. Fear No Man is bigger than Kulaperry”. The confidence alone of this young entrepreneur is one to admire.

The Kulaperry Brand has already made itself a brand name to reckon with in the Urban African fashion industry. Despite being a young company, with about five years under its belt, the milestones, which the brand has achieved, can only be envied. The company’s apparel includes T-Shirts, Shirts, Caps and Jackets amongst others. The brands presence in 29 different countries is unprecedented, and this is testament to the hard work that has gone into planning, setting up and marketing this amazing brand.

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Stonebwoy Appointed As Brand Ambassador For Voltic.



Black Entertainment Tv (BET) Awards "Best African International Act", Livingstone Etse Satekla, who performs as Stonebwoy has been announced as the brand ambassador for producers of world leading mineral water, Voltic Ghana.

Voltic made a formal public statement on the unveiling ceremony held at the premises of the company in Accra, Ghana about the fact, occurrence, or intention of employing the Stonebwoy who has excellent communication, networking skills, and a strong presence on social media to be the face of the fast selling mineral water company.

The “Ololo” hitmaker is to complete a variety of tasks ranging from proselytizing; supporting or actively encouraging the progress of the products or services in-store to implementing marketing campaigns, as he is widely also known as the influencer of corporate entity.

Details of the contract are scanty. However, we gather the ambassadorial deal is for two years during which the Grammy award nominee would use his influence to  promote new products from the company and embark on sensitization campaigns on the need for recycling.

Stonebwoy who is hired as an enthusiastic brand ambassador of the firm will also be involved in increasing brand awareness and sales by promoting the products through various media channels. He will work closely with the sales and marketing division to achieve its marketing goals and objectives, such as communicating the value of our products to customers, tracking customer feedback, and representing the brand at launches and events.

The Africa Dancehall King will is also be expected to educate customers, retailers, and distributors about their products. Creating website and social media content in order to drive brand awareness and attract new customers. Building rapport with customers and vendors.

Stonebwoy is currently promoting his latest single "Ololo" which features Nigerian and BET awards nominee, Teni.

As a unique brand that has remained the market leader for twenty-one years and still counting, Voltic has become a generic name for mineral and bottled water in Ghana through the provision of world-class products known for good quality and natural freshness.

Recently becoming a subsidiary of Coca-Cola Beverages Africa (CCBA), Voltic is committed to refreshing Africa everyday and making the continent a better place for all.

Sustainability is integral to Voltic’s operations, driving constant investment in the company’s people, the community and the environment. Over the years, Voltic has contributed to the improvement of livelihoods of thousands of people through employment, sponsorship and corporate social investments.

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Concerned Customers Of Gold Coast Fund Call For Investigations.



A group of Concerned Customers of the Gold Coast Fund Management (GCFM) have appealed to government to constitute an independent body to investigate the officials of the GCFM for not paying their monies to them.

They also called for the investigation of the officials of the Securities and Exchange Commission (SEC) for not communicating to customers and the public about their actions being taken against GCFM to safeguard
their investment.

At a news conference addressed by Madam Faustina Otoo in Accra they said since September 2018, the GCFM led by the then Chief Executive Officer, Papa Kwesi Nduom, made a number of unfulfilled promises to
the customers.

“Firstly, the GCFM officials indicated to start payment to their customers by March 2019 and to date not a single customer has received a pesewa. Secondly, they indicated to develop a payment plan concerning each customer’s investment; to date, no such a plan has been developed and communicated to their customers.

“Thirdly, we often read from the media about Papa Kwesi Nduom giving assurances and promises on payments being made by GCFM to their customers. We want to state emphatically and place on record that no such payments have been made to their customers,” Madam Otoo said.

She said: “Those pronouncements from Papa Kwesi Nduom were meant to divert attention from their gigantic failure to fulfil their part of contract with their customers.”

Madam Otoo said the SEC was too silent on issues surrounding the GCFM and until now, it had not issued a road map to resolve the matter as a regulator.

“Our members have individually petitioned the SEC on various infractions committed by GCFM, and the SEC’s responses have always been that, they will investigate the matter and get back to the petitioner. That ends everything! Nothing comes from SEC again,” she said.

Madam Otoo said it was surprising that while the Bank of Ghana boldly accepted responsibilities and took the bull by the horn by implementing drastic measures to sanitise the banking sector, the same could not be said about the SEC.

“The Bank of Ghana has already appointed receivers who are mandated to pay customers’ lock-up funds with the various defunct banks. What is SEC doing?”

She said Ghanaians were encouraged to inculcate savings and investment culture, while people were taught to plan towards their pension and therefore it was upon these advice that “our members acted and judiciously lodged various sums of money with a regulated institution trusting the government would come to our aid in the event of eventualities.”

“Pensioners and retrenched workers including; former workers of AngloGold Ashanti have various sums of money with the GCFM. What lesson is it to the general public and posterity if the government fails to take
necessary action to safeguard our investment with GCFM?”

Source: GNA | Ghana

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