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Ghana among worst performing African countries in 2015- Groupe Nduom

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Groupe Nduom Research (GN Research) analysis on various economies during the 2015 fiscal year is concerned about Ghana’s economic performance during the year. This research report was written taken into consideration that the 2015 fiscal year has been challenging for most developing countries including Ghana. Low commodity prices on the world market coupled with anticipation of a possible increase in ...

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June 3 flood: NIC orders Enterprise insurance to pay Alliance Motors customers

EI

The National Insurance Commission (NIC) has directed Enterprise Insurance to pay up car owners whose cars were destroyed at Alliance Motors Ghana limited during the June floods. Alliance Motors Ghana Ltd, dealers in Jaguar and Land Rover vehicles had refused to compensate clients who were affected by the floods and claimed the company’s insurance policy with Enterprise Insurance, does not ...

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NPRA injects cash into private pension funds

npra

The National Pensions Regulatory Authority (NPRA) has transferred a total of GHS 193,116,008.95 to Licensed Trustees administering mandatory 2nd Tier Occupational Pension Schemes. The amount represents total funds transferred to Trustees in 2015. The Authority commenced the transfers in November this year after applicants (Licensed Trustees) had successfully gone through validation of data and due diligence on compliance processes put ...

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ECG to meet stakeholders over electricity supply schedule during yuletide

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The Electricity Company of Ghana (ECG) has told Citi Business News it is yet to decide on a schedule for the festive season following recent developments within the power sector. There have been growing concerns over the availability of power during the yuletide. Although the power barge is said to have commenced power generation, the Ghana Gas Company is facing ...

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Budget overrun looms following utility prices increase – PEF

Nana Osei Bonsu - CEO, PEF

The Private Enterprise Federation (PEF) has hinted of a possible budget overrun next year due to increased demands from labour following increased utility tariffs. Prices of electricity and water have been increased by 59.2 and 67.2 percent respectively. Arguments in favour of the increase include the dollar exchange, generation mix, consumer and producer’s interest. Organized labour has strongly opposed the ...

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Adverts on re-branded buses could earn Ghana Ghc500,000 monthly

Mahama Bus

An Accra-based Advertiser, Casey Amese, has told Citi News that the state could have generated Ghc500,000 monthly if it had allowed the 116 Metro Mass Transit Buses to be re-branded with commercial advertisement. Mr. Amese also revealed that per the realistic industry charges for the quality of work that was done on the buses, the re-branding should have cost GHc928,000 instead of the ...

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Prices of foodstuff continue to decline days to Xmas

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Prices of some foodstuff continue to drop as the yuletide approaches. At the end of the third week in December, Tomato recorded the highest drop in price by 12 percent, to close the week at 8cedis 90 pesewas per ‘medium size tomato tin”. This was followed by Soyabean and Yam which dropped by 6 percent each to close the week ...

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New Public Management Law to jail ‘crooked’ public service officials

Finance Minister, Mr. Seth Terkper

The proposed public financial management bill will ensure that heads of public institutions, who fail to comply with measures aimed at eliminating ghost names from the public sector payroll, are jailed. This is the caution coming from the finance Ministry. The bill, currently at the draft stage, will allow all legislations on public financial management to be structured into one ...

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Don’t drag Finance ministry into AMERI deal fray

Seth Tekper, Finance Minister

The Ministry of Finance says it cannot be blamed for the alleged wrongful payments in the controversial AMERI power plant deal. According to its Chief Director, approval of payment for the contract, followed prior approval by cabinet and parliament respectively. The power ministry has come under intense pressure for its alleged role in the signing of the 510 million dollar ...

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Govt extends investor search for Northern Star Tomato company

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Government has extended its search for an investor for the Northern Star Tomato company. The new date for the search avenue to close, will now be 28th January, 2016. Government which fully owns the company has asserted its intention to sell 70 percent of the company as part of moves to revamp its operations. Minister of Trade and Industry, Dr. ...

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Citi Business News