THE PRAX GROUP ANNOUNCES SUCCESSFUL CLOSING OF A US$300 MILLION PRIVATE CREDIT FACILITY

London, Sept. 12, 2023 (GLOBE NEWSWIRE) — The Prax Group (“Prax”) – a British multinational, independent global energy conglomerate dealing in crude oil, petroleum products and biofuels, with a complete integration across the oil value chain, from upstream to midstream and downstream – has announced the successful closing of a new privately placed c.US$300 million (equivalent) Term Loan Facility (the “Facility”).  The Facility achieved a substantial oversubscription and was upsized from an original US$250 million, with four institutions participating in the transaction, including three new lenders.

The Private Credit team at HSBC Bank plc (“HSBC”) acted as Sole Mandated Lead Arranger of the transaction. Funds managed by institutional investors including Chimera Abu Dhabi (“Chimera”) and Orchard Global Asset Management (“Orchard Global”) acted as lenders alongside HSBC.

Ben Lahnstein, Group Chief Financial Officer, Prax, said: “The success of the transaction highlights the confidence our lending groups have in Prax and the depth of our banking and investor relationships. This latest funding has diversified our funding sources and strengthened our balance sheet.  It provides us with a solid financial platform from which to execute future M&A activities, and deliver sustainable, profitable growth.”

The new Facility will be used to refinance the maturing five-year term loan tranche from 2018, as well as for strategic acquisitions.

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Notes to Editors

About The Prax Group: Headquartered in the UK, the Prax Group is a British multinational, independent exploration and production, refining, storage, distribution and sales conglomerate dealing in petroleum products and bio-fuels. The Prax Group has a complete integration across the whole oil value chain, from upstream to midstream and downstream, with offices in London, Houston and Singapore. The Group strives to limit its carbon footprint and to embrace the advent of transitional fuels.

www.prax.com

Corporate Headquarters:
Prax Group
York House
45 Seymour Street
London W1H 7JT
United Kingdom
Email: press@prax.com

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GFA mourns with family of Legon Cuties Goalkeeper Sylvester Sackey

The Ghana Football Association (GFA) has sent heartfelt condolences to the family of Legon Cities shot-stopper, Sylvester Sackey who passed away on September 12, 2023. A statement signed by Mr. Kurt Okraku, President of the football body said the demise of the footballer has caused a big vacuum in the hearts of the football fraternity. ‘We, at the Ghana Football Association extend our heartfelt condolences to our affiliated member, Legon Cities Football Club and to the family of our late talented footballer. We stand with Legon Cities FC and the family in this time of deep loss and grief and pray that you will be comforted by the almighty,’ He said. The player has been with Legon Cities for the past four seasons, serving as a first choice goalkeeper in the club.

Source: Ghana News Agency

‘There is peace and unity in camp’ – Black Bombers coach debunks boycott rumours

Ofori Asare, Head Coach of Ghana’s amateur team, the Black Bombers, has debunked rumours of a boycott by boxers representing Ghana at the ongoing African Olympic Boxing Qualifiers in Dakar. There are reports circulating in the sports media suggesting that the Black Bombers want to boycott the Olympic Qualifiers until they receive their per diems. But according to Coach Asare, such rumours could affect the performance of the boxers, but they remained fully focused on Olympic qualification. ‘You see, such rumours can affect the boxers performance, but I will psyche them for the battles ahead. I already said we can qualify one or two boxers and look at the other world qualifiers in Italy and Thailand,’ he expressed. Wahid Omar, the Black Bombers captain, reiterated that they were focused on achieving their dreams of Olympic Games qualification in Dakar and not the money to be paid by the government. He said they have already been assured by the Minister of Youth and Sports, Mr. Mustapha Ussif, to go to Dakar and come for their per diems and allowances. Omar added that the tournament had been very tough and that he was disappointed in not being able to qualify but was hopeful that other colleagues could grab some qualification spots.

Source: Ghana News Agency

‘Help NDC by getting your names into the voter register’ – Dorcas Korklu Afotey

A staunch member of the opposition National Democratic Congress in the Krowor Constituency, Dorcas Naa Korklu Afotey has called on all eligible Ghanaians to register in the limited voter registration exercise by the Electoral Commission (EC).

In a statement released on Tuesday, September 12, 2023, the former parliamentary candidate aspirant of the Krowor constituency, Dorcas Naa Korklu Afotey has emphasized the importance of participating in the electoral process, stating that “every eligible citizen must have a say in who governs the country.”

“As concerned citizens of Ghana, it is our duty and responsibility to take part in the political process and ensure that our voices are heard”

“One way to do this is by rescuing the suffering Ghanaians by registering to vote in the upcoming 2024 general elections for the National Democratic Congress”.

“By registering to vote, we can elect leaders who have the best interest of Ghanaians at heart and who can work towards alleviating the suffering of our fellow citizens”, part of her statement stated.

The outspoken member of the NDC has also warned the EC to ensure that the registration exercise is conducted transparently and fairly and that adequate measures are put in place to guarantee the credibility of the electoral process.

Her call comes as the EC prepares to undertake a limited voter registration exercise from September 12 to October 2, 2023, to enable eligible Ghanaians who were unable to register in previous exercises to do so for the upcoming District-level Elections.

“This call comes as a means to encourage Ghanaians especially my Krowor residents to exercise their democratic right to vote and to ensure that their voices are heard in the upcoming elections”.

“I urge you all to take advantage of the limited registrations being carried out by the Electoral Commission (EC) to get your names into the voter register. As citizens, it is our duty and right to ensure that we participate in the electoral process and make our voices heard”, she stated.

Source: Ghana Web

‘He was the light until the very end’ – Mohbad’s family confirms passing in emotional statement

The family of the late Nigerian artiste Ilerioluwa Oladimeji Aloba who is also known as MohBad has released a statement announcing his death.

The former Marlian record signee died on Tuesday, September 12 at the age of 27.

The news of his demise was shared on his X page #Ovieo on Tuesday evening.

“Confirmed. MohBad is dead. Sad, sad day,” he tweeted.

The family in a statement said, “Mohbad was light until the very end”.

Also, Nigerian rapper, Olamide Adedeji, popularly known as Olamide shared a cryptic message on his X handle.

“Damn! Mohbad (sic)” he stated. In another tweet, Olamide posted, “This life (sic)”.

An old video of Bella Shmurda saying Mohbad was battling mental health issues recently resurfaced online minutes after the reported death of the singer.

Some of the popular songs of the singer include KPK, Peace, Komajesun, Pariwo, and many more.

Information on the cause of his death and where he died as of the time of filling this report was sketchy.

Source: Ghana Web

#TrendingGH: Public impressed with Dampare’s demeanour at committee hearing

The Inspector General of the Ghana Police Service, Dr George Akuffo Dampare on September 12, 2023, appeared before the 7-member committee probing the leaked take to oust him from office.

Appearing before the committee, the IGP dispelled the claims and allegations peddled against him by these police officers.

For his opening remarks alone, the IGP spent about 20 minutes uninterrupted explaining, providing clarifications, debunking, redirecting and straining of facts of the allegations made about his person and the police service under his leadership.

GhanaWeb went around to gather views from the public on the performance of Inspector General of Police, Dr. George Akuffo Dampare, when he appeared before the committee.

The majority who spoke with GhanaWeb said they were impressed with Dampare’s demeanour at committee hearing. They believe that the plot against the Inspector General was a planned plot.

They say that the officers indicted in the tape only want to serve their personal interests and undermine the good works of the IGP in the police service and to the public.

“The whole thing seems like a coup d’état. If a big man in the police force tries to undermine the effort of the IGP who the biggest policeman in Ghana is, amounts straight to a coup d’état. If I were the IGP, I would be worried. But I am happy that when he came to address issues, he wasn’t vindictive. He didn’t hate anyone. He was generous.

“I don’t know what he is thinking but at least according to what he said, he was nice to every one of them. But the police officers should be taken care of. Politicians should stop using policemen and soldiers to get to power because in the end, it is a democracy, and it is based on votes and not guns,” one of the individuals who spoke with GhanaWeb said.

Another individual who also shared a similar opinion said that the IGP is innocent of all the allegations levelled against him.

“In my opinion, I think he is innocent although I don’t have any evidence to that but the way he spoke at the parliamentary hearing and the way his people conspired against him, I don’t think it is the right way. They should have done better.

“He is doing his work and I think it is the nature of many of us Ghanaians. People can easily conspire against you or go behind you to hate what he is doing. All this is because as we all know, he is strict, he is a man of his word,” she noted.

Also, one person likened the plot and the hearing to a football match.

He said “It’s just like a football match, the referee has his favourite in the game he is refereeing. In reference to the police and the accusation, it is all about politics. In all, it is unfair. But maybe the IGP is doing something, and the other officers have seen that was why they did what they did. But I think it is unfair to the IGP,” he added.

The committee met with the IGP, COP Alex Mensah, Supt Asare, Supt Gyebi with Burgi Naabu in an in-camera meeting today, September 13, 2023.

After the hearing, the chairman of the committee, Samuel Atta Akyea, announced that the next public hearing would be on October 2, 2023.

Source: Ghana Web

#Sayitloud: Tetteh Quarshie Art market traders reflect on life 2 years after their livelihoods were demolished

On June 28, 2021, the cumulative lives that traders at the Tetteh Quarshie Art and Craft Market in Accra had made for decades were brought to an abrupt, rude end when a demolition exercise robbed them of their investments.

With what they say was little to no notice given them on the exercise that pulled down all their shops and the contents therein, the traders were left with no other option than to pick up their lives again.

This was not an easy thing to do, as some of them told GhanaWeb’s Etsey Atisu, host of #Sayitloud on GhanaWeb TV, but they got a little lucky when a sizeable space of land was designated to them not too far from their former ‘home.’

But this was after the traders were forced to stay at home without a livelihood for about a year.

Two years after this demoralizing event, GhanaWeb returned to the new market to interact with them.

Frank Todah, Chairman of the Tetteh Quarshie Art and Craft Market, shared the sentiments of most of his people, plus all the plans they now have in securing their futures.

Source: Ghana Web

We must consider decentralising our education system – Okudzeto Ablakwa

Mr Samuel Okudzeto Ablakwa, a Member of Parliament for North Tongu and a former Deputy Education Minister, is advocating an effective decentralisation of Ghana’s education system to produce good outcomes. ‘As a nation, we must start investigating education decentralisation…If our Local Government Ministry and Ministry of Education effectively decentralise, empower our teachers, and provide resources at the district level, we can have good outcomes,’ he said. Mr Ablakwa made the suggestion at the second graduation and Speech and Prize-giving Day of the Somanya Methodist Junior High School at Yilo Krobo in the Eastern Region. It was on the theme: ‘Preparing for Changing Work Environments, Leaving no Learner Behind.’ Decentralisation would enable the districts to have a platform to discuss their plans and budgets and provide them with the opportunity to showcase their achievements, he said. Mr Albert Nyarkotey, the Yilo Krobo Member of Parliament, said education was the foundation of the future and everyone must be given that opportunity to go to school. He urged the pupils to go the extra mile and maintain strong ethics and values to accomplish their goals. Ms Believe Ama Amoah, the Somanya Methodist JHS Headmistress, said the school had experienced notable successes during her leadership, including an improvement in the results of the Basic Education Certificate Examination. The school placed second in a plastic waste management initiative out of 50 junior high schools in the country and the first runner-up in a quiz contest at the circuit and regional levels, she said. Despite these successes, Ms Amoah said the school faced several challenges including absence of a fence wall, absenteeism, truancy and failure of some parents to provide the basic needs of their children. She appealed to the Government to provide teaching and learning materials, such as textbooks, for effective teaching and learning and urged parents to monitor their children and ensure they studied at home. ‘Our school has been encroached upon by nearby residents, and we will need support from philanthropists and other non-governmental organisations to wall the premises,’ she appealed.

Source: Ghana News Agency