Category: Business
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Aker Energy did not make new oil discovery — Petroleum Economist
Petroleum Economist, Dr. Theophilus Acheampong, has said Aker Energy cannot be said to have made new oil discoveries rejecting claims made by policy think IMANI Africa at a recent press conference. IMANI Africa at a press conference last week had said that Aker Energy had made new oil discovery outside its original period for oil…
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Contractors can no longer vary projects cost by more than 10%
Government has said it is no longer permitted for contractors in the public sector to vary the cost of projects awarded to them by more than 10 percent. The ceiling was captured in the new e-procurement initiative recently launched. The cap on the allowable cost for project variation comes after incidents of costs of projects…
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Four banks line up to support businesses to access loans
The Ghana Export Promotion Authority (GEPA) has facilitated a meeting between micro, small and medium enterprises and some four commercial banks to address challenges that businesses typically face in accessing credit. The authority’s intervention comes after exporters complained they were unable or face difficulties to access credit facilities from the formal banking sector. GEPA’s approach…
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Former workers of Esich Life Assurance demand contribution made into Provident Fund
Some former workers of Esich Life Assurance are pleading with the National Insurance Commission (NIC) to help them retrieve their contributions made into a Provident Fund while the company was operational. Esich Life Assurance was said to have links with defunct Capital Bank. The NIC has currently appointed an administrator for the company. Speaking to…
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Gov’t clears GHS3.1bn pension fund arrears — Okoe Boye
Member of Parliament for Ledzokuku Constituency, Dr. Okoe Boye, has revealed that the government has released more than GHS3 billion arrears in Tier-2 pension funds to fund managers. The MP speaking in Parliament said the funds held on behalf of its workers have finally been released to fund managers after several years of being in…
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May Day: Oil workers call for fair salaries among expatriates and locals
As Ghanaians join the world to mark the Workers Day today, May 1, the Petroleum and Chemical Workers Union has called on government to enforce the equal-work for equal-pay sanctioned by the Labour Law. The Western Regional Relations Officer for the General Transport, Petroleum and Chemical Workers Union, Richard Hanson, speaking to Citi News during the May…
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GRA launches policy to prosecute recalcitrant taxpayers
The Ghana Revenue Authority (GRA) will use prosecutions as a major weapon against non-compliance, tax evasion and tax customs fraud. The GRA is, therefore, asking income earning persons, potential and existing recalcitrant taxpayers to amend their ways since its prosecution policy will deal with persons who violate the country’s tax laws. The policy outlines the…
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Single Spine Salary Structure review ‘long overdue’ – Austin Gamey
Labour Consultant, Austin Gamey has backed Organised Labour’s call for a review of the Single Spine Salary Structure. The General Secretary of Industrial and Commercial Workers’ Union (ICU), Solomon Kotei had made a strong case for the review, saying the re-engineering should provide non-discriminatory and fair employee compensation. Mr. Gamey on Eyewitness News supported this call, saying in view…
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Business community calls for changes to stimulate economic growth
As the 5th month of the year begins, some business leaders have challenged government to take decisive steps to ensure sustainable growth across different sectors of the economy. According them, attention should be given to issues of credit, use of technology and environmental protection. Residents and businesses in some parts of Accra, Sunyani, Wa, Kumasi,…
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Article: Why the monster called “Dumsor” dwells with us Ghanaians– Part 1
Dumsor the Monster “Dumsor is a dreaded name in Ghana, synonymous with the subhuman “Dracula” who sucks human blood and spreads the undead curse along winding roads within the thick, dark and ancient forest and over mountain passes”. The word “Dumsor” is of Ghanaian origin, and in the Akan language it connotes “off and on”…