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    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    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

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    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

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

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South Africa:Brown suspends pay hikes for Eskom execs

bycitibusinessnews
July 4, 2016
in Africa, Southern Africa
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Public Enterprises Minister Lynne Brown is holding off remuneration increases for Eskom’s executives, but she approved a 4.6% increase for non-executives.

“Public Enterprises Minister Lynne Brown … approved a below inflation increase of 4.6% in non-executive remunerations for the company, and has decided to defer the decision regarding remuneration increases for Eskom’s executives,” the power utility said in statement.

Brown commended the Eskom board and executive management team for stabilising the country’s national power grid.

She noted that the power system has remained stable due to the rigorous maintenance programme that Eskom has put in place, resulting in no load shedding being implemented for over 10 months.

Eskom is expected to announce its financial results for the year ended 31 March 2016 on Tuesday.

“Our approach to remuneration and benefits is designed to attract and retain skilled, high-performing executives and employees,” said Eskom chairperson Baldwin Ngubane.

“We aim to remain competitive to attract and retain key skills, by providing market-related remuneration structures, benefits and conditions of service.”

He added that international and local benchmarks are considered in determining executive remuneration, to ensure that executive packages are aligned to those offered by companies of similar stature.

No futher details were provided about the decision to defer pay hikes for Eskom’s executives.

Eskom spokesperson Khulu Phasiwe was not available for comment.

–

Credit: Fin24

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