NPA to introduce credit ratings to curb business risks in petroleum sector

The National Petroleum Authority (NPA) is partnering with the Bank of Ghana and credit bureaus to introduce a credit rating system aimed at enhancing financial transparency in Ghana's petroleum sector.

This initiative will enable Bulk Distribution Companies (BDCs) and Oil Marketing Companies (OMCs) to evaluate each other's financial stability before engaging in transactions.

Initially voluntary, the system is expected to gain traction as businesses recognize its benefits in mitigating credit risks.

The full rollout is anticipated by early next year, with significant progress already made in discussions with BDCs.