Author: Pius Amihere Eduku
-
SSNIT to cease lump sum pension payments from 2020 – Employment Minister
From next year (2020), all pensioners on the new pension scheme, will access their lump sum payments from the managers of pension schemes other than the Social Security and National Insurance Trust (SSNIT). By this, the state pension’s manager, SSNIT will only be mandated to pay monthly benefits to pensioners. Employment and Labour Relations Minister,…
-
January 2020 roll out date for Eco ‘tentative’ – Peter Quartey
The announcement by the Heads of State of ECOWAS on the adoption of a common currency, the ECO, is rather a declaration of intent than action. That is the position of the Director of the Economics Division at the Institute of Statistical, Social and Economic Research (ISSER), Professor Peter Quartey. He has therefore urged the…
-
Gov’t pulls breaks on new tariffs at new Terminal at Tema Port
All businesses using the newly constructed Terminal Three at the Tema port will be charged the existing tariffs until such a time where the Ghana Ports and Harbours Authority (GPHA) completes the necessary processes to review the tariffs for businesses. The decision was contained in a statement signed by the Minister of Transport, Kwaku Ofori…
-
Frederick Attakumah is new MD for Asanko Gold Ghana
Asanko Gold Ghana has appointed Frederick Attakumah as its Executive Vice President and Managing Director of Asanko Gold Ghana. He assumes the role from today [July 2, 2019]. The former Managing Director, Josephat Zvaipa, will continue in his role as Chairman of the Asanko Gold Mine Joint Venture Committee. He is also relocating to the…
-
Increased foreign currency deposits contributed to cedi’s depreciation – BoG report
A latest banking sector report has shown that the increased deposits of foreign currency partly contributed to the depreciation of the cedi recorded within the first four months of 2019. According to the banking sector report spanning activities between January to April 2019, foreign currency that were deposited at banks increased by 28.2 percent in…
-
Tullow Oil posts $500m in profits for 2019 first half
Tullow Oil has announced five hundred million dollars in profits for the first half of this year [2019]. The company’s revenue also recorded 900 million dollars. Tullow is however hopeful that the figure will inch up when production levels increase to expected levels. Tullow, in its trading statement, said the increase in production in West…
-
Regulator impounds unlicensed courier operating motorbikes
The Postal and Courier Services Regulatory Commission has cautioned that it will not hesitate to arrest and possibly prosecute operators of courier services that are not licensed by the Commission. It follows a crackdown on Wednesday [June 26, 2019] where about sixty motorbikes were impounded for offering courier services but without a license. The latest…
-
VRA responsible for 98% of Ghana Gas’ debt stock – PIAC report
It has emerged that the Volta River Authority, VRA, alone is liable for almost ninety-nine (98.99) percent of the amounts owed the Ghana Gas Company by its suppliers. According to the 2018 annual report of the Public Interest and Accountability Committee, PIAC, the VRA owes Ghana Gas over two hundred million dollars as at the…
-
New home-based carrier to start operations this year
Barring any last minute change, Ghana’s new home based carrier should commence operations this year [2019]. Information available to Citi Business News also indicates that the government and the management of Ethiopian Airlines have progressed in finalizing the agreement. The Area Manager of Ethiopian Airlines in Ghana, Genet Michael confirmed the progress of work in…
-
Investment banker Mahama Iddrisu passes on
Information reaching Citi Business News indicates that Investment Banker, Mahama Iddrisu has died. He passed on Sunday (June 16, 2019). Mr. Mahama Iddrisu was the former Managing Director of the Ecobank Development Corporation (EDC) Stock Brokerage Limited. Mr. Iddrisu was an Investment Banker who contributed to various discussions on Citi Business News. He had an…