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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

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    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

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    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Old Mutual celebrates 177th anniversary globally, 10 years in Ghana

    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Value of MoMo transactions decrease by 3% between March and April 2022

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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Kenya:Rotich eases Kibaki, Moi pension pain for taxpayers by Sh22m

bycitibusinessnews
July 7, 2016
in East Africa
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Former presidents Mwai Kibaki and Daniel arap Moi will earn less pension in the current financial year after the Treasury reduced the annual allocation to them by Sh22 million, reversing last year’s increment that was seen as burdensome to the taxpayers.

The retired presidents have been allocated Sh42 million for pension this year down from Sh64 million in the just ended financial year, according to estimates in the supplementary budget.

Retirement benefits of former presidents have come under sharp criticism, especially in the past couple of years when allocations increased by large margins even as the government insisted it had put in place austerity measures to deal with a bourgeoning wage bill.

The Treasury did not respond to our queries on what informed the cutback.

If awarded equally the smaller package assures each retired president of a monthly payout of Sh1.75 million — an amount that is higher than President Uhuru Kenyatta’s official salary of Sh1.5 million.

The High Court last year stopped the government from paying allowances worth millions of shillings to the two retired presidents after finding that they were an unnecessary burden to the taxpayers.

The Attorney-General has since appealed the decision, allowing the two continue to enjoy the high packages.

Sections of the law that the court nullified entitled Mr Kibaki and his predecessor, Mr Moi, to a Sh379,500 house allowance per month, a fuel allowance (Sh247,500), entertainment perks (Sh247,500) and utilities (Sh379,500).

Mr Kibaki signed the perks into law two weeks before his retirement, effectively awarding himself millions of shillings on his way out.

The taxpayers picked up a Sh150 million bill in the last financial year alone to keep the two former presidents comfortable in retirement.

The law also entitles the duo to two personal assistants, four secretaries, four messengers, four drivers and bodyguards.

Taxpayers also cater for workers in Mr Kibaki’s Nairobi office that was bought at Sh250 million three years ago and Mr Moi’s office at Kabarnet Gardens off the city’s Ngong Road.

Parliament passed the generous package as an incentive for politicians to leave office voluntarily in the knowledge that their comfort was assured.

–

Business Daily

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