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Tag Archives: BDCs

Banks, BDCs to shave off GH¢800m from GH¢1.6bn debt

Mr-Senyo-Hosi

It appears the woes of commercial banks regarding their exposure to Non Performing Loans (NPLs) may not be ending anytime soon with the latest development from the Bulk Oil Distributors regarding their indebtedness to some banks. Information available to Citi Business News indicates that banks that are owed by the Bulk Oil Distributors (BDCs) are to lose at least 800 ...

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Banks demand payment plan for BDC debts

philip owiredu 620x330

Banks that are exposed to the Bulk Oil Distribution Companies (BDCs’) debts want government to draw out a plan to facilitate payments from the Energy Sector Levies Act [ESLA]. They argue that the plan will facilitate payments and help them make the necessary provisions accordingly. Explaining the impact of the absence of a detailed plan on the repayment scheme for ...

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NPP gov’t must continue legacy debt payments – HFC MD

HFC Bank CEO, Robert Le Hunte

The Managing Director of HFC bank, Robert Le Hunte is optimistic the incoming Nana Akufo-Addo government will continue with the plans laid down by the Ministry of Finance in paying the legacy debt. According to him, the change in government should not in any way alter the process already agreed on to pay the affected banks. “I think that’s part ...

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BDCs chamber calls for calm over debt payment uncertainty

Mr-Senyo-Hosi

The Chief Executive Officer of the Chamber for Bulk Oil Distribution Companies Senyo Horsi has rejected revelations that government may not abide by the agreed payment plan to clear debts owed banks by Bulk Oil Distribution Companies. Government is currently indebted to about 17 Bulk Distribution Companies in excess of 500 million dollars. In government’s bid to clear debts owed ...

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