The government is seeking to be part of oil exploration and exploitation in Ghana to mitigate skyrocketing fuel prices in the country. President Cyril Ramaphosa made the statement during a media briefing at the Union Buildings after he met his Ghanaian counterpart, Nana Akufo-Addo. The West African leader and his cabinet are in SA on a one-day official state visit. Ramaphosa said Akufo-Addo had informed him of a new oil exploration block that Ghana was starting‚ saying SA would take advantage of the invitation. SA is experiencing unprecedented fuel price increases‚ blamed on rand-dollar exchange rates and the oil prices. Ramaphosa said the government had little power to halt the ever-increasing fuel costs. "SA‚ unfortunately‚ imports oil. As such‚ in the end‚ we are subject to price fluctuations of dollar exchange rates and oil prices because we are price-takers and therefore vulnerable in that regard‚" Ramaphosa said. He also pleaded with retailers and food producers who were consi...
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