GET IN TOUCH
 
 
 
 
 

News

Kumasi: Police secure Alabar lorry station to curb clashes

alabar-2

The Ashanti Regional Police command has sent re-enforcement to the Alabar lorry station following near clashes between two feuding groups. The groups in question clashed in March 2017, leaving six people seriously injured. Reports indicate that they clashed over management of the Alabar Tamale lorry station. The Abudus are said to be seeking total control of the lorry station because ...

Read More »

FDA bans sale of most bleaching products

Delese Mimi Darko, Chief Executive Officer, Food and Drugs Authority Ghana

The Food and Drugs Authority (FDA) has banned the sale of products that contain a chemical mostly found in body bleaching creams. The increase in the sale of such creams has become a public health concern with many health practitioners warning against their use. Speaking before the Public Accounts Committee (PAC) hearing in Parliament on Wednesday, the Acting Chief Executive of the ...

Read More »

‘90% of Mahama road contracts awarded by restricted tender

concrete-road

Government has disclosed that over ninety percent of road projects awarded by the Mahama administration went through the process of restricted tendering. The Deputy Minister for Roads and Chairman of a committee set up to rationalize the number of roads under construction, Kwabena Owusu Aduomi made the revelation on Tuesday when he presented his report to the Minister. He said ...

Read More »

SADA rot: Over GHc32m unaccounted for

Charles Abugri, Chief Executive Officer of SADA

Some GH₵32 million cannot be accounted for by Unik Savannah Limited, a private company engaged by the Savannah Accelerated Development Authority (SADA), to supply tricycles and motorbikes to some residents within the SADA zone. Investigations conducted by The Finder indicate that out of the 2,157 tricycles that were given out on hire purchase with a unit price of GH₵15,600, only ...

Read More »

Woyome’s GH¢51m not captured in ministry’s account

woyome

The GH¢51 million judgement debt which was paid to the businessman, Mr Alfred Agbesi Woyome, is missing from the accounts of the Ministry of Finance (MoF) and the Controller and Accountant-General’s Department (CAGD), the 2016 Auditor-General’s Report has revealed. According to the report, the MoF and the CAGD failed to capture the amount in their accounts in 2016. The omission ...

Read More »

NPA threatens to sue Glencore for operating without license

Hassan Tampuli

National Petroleum Authority (NPA) has cited another company, Glencore, for operating without a license in Ghana’s petroleum downstream industry. The NPA, in a June 2017 letter sighted by Citi News, threatened legal action if Glencore does not cease its operations. Glencore is said to have been importing petroleum products for storage and sale to various customers within Ghana, thus flouting section 11 of the ...

Read More »

UT bank, Capital Bank’s collapse: Minority calls for bipartisan probe

Ranking Member on Parliament's Finance Committee, Cassiel Ato Forson

The Minority in Parliament has called for a bipartisan probe into the circumstances that led to the fall of UT Bank and Capital Bank, leading to their takeover by GCB Bank. The Bank of Ghana confirmed the takeover of the two banks by GCB Bank in a statement on Monday morning, announcing that it had “approved a Purchase and Assumption ...

Read More »

Fate of workers of UT & Capital Bank [Infographic]

capital-bank-ut-bank-rip

At least about fifty percent of the workers of UT and Capital bank will be laid off following the acquisition of the banks by GCB. Citi Business News has also learnt that GCB will not be compensating any of the workers that will be laid off. The infograph below provides further details of what the fate of the workers of ...

Read More »

Don’t overburden GCB with non-performing loans – Minority

Cassiel Ato Forson, Minority spokesperson on Finance

The Minority in Parliament has admonished government to desist from overburdening the GCB bank with non-performing loans from collapsed  UT bank and capital bank. Addressing the press on the development on Tuesday, the ranking member on Parliament’s Finance Committee Casiel Ato Forson urged the “Bank of Ghana to ensure that the acquiring bank in this case GCB which is the ...

Read More »

UT, Capital bank staff to undergo skills assessment – GCB

the-chief-executive-officer-ceo-of-gcb-raymond-sowah-1

Staff of former banks; UT bank and Capital bank will undergo skills assessment requirements to qualify for employment at the GCB bank. This was revealed by the Chief Executive Officer (CEO) of GCB, Raymond Sowah on Tuesday during a press conference. “…We shall conduct a skills assessment as part of integration process we need to know that we can bring ...

Read More »