Author: Lawrence Segbefia
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Minority demands full disclosure of judgment debt beneficiaries
The Minority in parliament is demanding full disclosure of companies and individuals that benefited from about 300 million judgment debt announced by the Finance Minister, Ken Ofori-Atta. Mr. Ofori-Atta last week told parliament government has paid about 300 million cedis as judgment debt most of which were inherited by the Nana Addo government. But speaking…
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PDS must improve revenue collections to be efficient–IES
The Institute of Energy Security (IES) has charged the Power Distribution Service (PDS) to improve the collection of bills to ensure prompt payment to power producers. The admonition follows threats by Independent Power Producers to cut power if some monies owed them are not paid. The Chamber of Independent Power Distributors and Bulk Consumers (CIPDIB)…
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Most rural banks are well capitalized—ARB Apex Bank MD
The Managing Director of the ARB Apex Bank, Kojo Mattah has maintained that most of the rural and community banks operating in the country are well capitalized and serving their clients, contrary to reports that majority of them are struggling. He stated that the services rendered by rural banks are critical to the economic stability…
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Article: What next for government as dumsor clock ticks?
In 1984, Ghana was confronted with its first electricity crisis as a result of a severe drought of the lake, very much attributable to climate between 1982 and 1984. It was reported that the total inflow into the dam between 1982 and 1984 was less than 15% of the expected total, and that triggered power…
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Ghana-China to construct a $100 million chocolate factory in Sefwi-Wiawso
Government has announced a joint partnership deal with the Chinese to construct a 100 million dollar chocolate factory at Sefwi-Wiaso in the Western North region. The facility is expected to process about 50,000 tonnes of cocoa beans into chocolate in a year. This is expected to help the country add value to its cocoa beans…
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Managing Director of Ghana Stock Exchange, Kofi Yamoah retires in October
The Managing Director of the Ghana Stock Exchange, Mr. Kofi Yamoah is set to retire from his position later this year [October 2019]. Mr. Yamoah has worked at the Ghana Stock Exchange for about 29 years and was appointed Managing Director of the bourse in 2003. He is a Chartered Accountant and an Investment Banker…
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Collapsed 347 microfinance companies: Receiver to come out with validated names soon
The Head of the Other Financial Institutions Supervision Department at the Bank of Ghana Mr. Joseph Amoah-Awuah has stated that the receiver of the defunct 347 microfinance companies and the 39 money lending companies is validating claims of customers of the companies. This follows calls from some customers who complained of not hearing from the…
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Article: Bedrock Insurance– Changing the narrative of claims payment
The insurance industry in Ghana has faced many challenges even though its prospects for economy development is enormous. One major challenge in the industry is the low penetration in the financial sector. Insurance generally allows people and companies to transfer risks for a premium. Insurance is an important financial tool that can help channel funds…
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Managers of Ghana Stock Exchange introduce new initiatives to improve 2019 performance
Investors on the Ghana Stock Exchange(GSE) should expect a marginal increase on returns for 2019 after the local bourse recorded a negative performance in the preceding year. According to managers of the GSE, far reaching initiatives are being taken to improve the performance, relative to 2018. “The initiatives include: preparation and adoption of new strategic…
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Article: Maintaining safe and reliable energy infrastructure– a national security concern
In March 2019, and at the height of one of the most recent power outages across the country, news broke that one of the transmission towers near the Head office of Ghana Grid Company (GRIDCo) at Tema has fallen over onto another tower, leading to the loss of 180 megawatts of power; creating power outages…