Tag Archives: debt

NDC Metro Mass debt reports a diversionary tactic – Kofi Adams


The National Organizer of the National Democratic Congress (NDC), Kofi Adams, believes reports of a debt owed the Metro Mass Transit Limited by the NDC are a distraction from pertinent issues of national interest. Commenting on the reports on Eyewitness News, Mr. Adams said: “it is a diversion from the blackout we are suffering, it is a diversion from confusion, ...

Read More »

We inherited a “heavily indebted energy sector” – Akufo-Addo

President Nana Akufo-Addo

Ghana’s energy sector is currently in a “heavily indebted” state, President Akufo-Addo has said. Addressing Parliament in his first state of the nation address, the President noted that, the sector has enormous problems that must be addressed urgently. “We have inherited a heavily indebted energy sector with a net debt reaching $2.4bn as of December 2016. I have to point out ...

Read More »

NDC’s GHc7 bn expenditure was hidden from IMF – Majority reveals

Mark Assibey Yeboah

The Majority in Parliament has expressed fears that purported GHc 7 billion unaccounted expenditure by the previous National Democratic Congress (NDC) administration, could compromise the International Monetary Fund’s (IMF) Extended Credit Facility (ECF) with Ghana. Addressing the press today [Thursday], the Chairman of Parliament’s Finance Committee, Dr. Assibey Yeboah, speaking on behalf of the Majority, warned that if figures were not reconciled ...

Read More »

Feeding grant debts for northern schools pile up

File photo

It is required of government to urgently make full payment of the accumulated feeding grants debt associated with Senior High Schools in the three regions of the north. Citi News’ incessant reports on the situation compelled government to pay one out of three terms debt owed the various schools. It is unknown when government will defray the total debt, and if this academic term ...

Read More »

Energy sector stuck in ‘merry go round debt’ – Agyarko

Boakye Agyarko

Ghana’s energy sector does not generate enough revenue to effectively deliver its mandate, Minister nominee for Energy and Petroleum, Boakye Agyarko has said. Speaking during his vetting at Parliament House on Monday, Mr. Boakye Agyarko said: “The energy sector we find now is seriously cash-strapped to the extent that we now live in a debt merry go round.” According to ...

Read More »

Mahama gov’t leaves GH¢23m Hajj debt

Former President Mahama & other gov't officials seeing off Hajj pilgrims last year.

The Hajj Board under the former National Democratic Congress (NDC) administration has left behind a debt of Ghc23 million accrued from organizing last year’s pilgrimage to Mecca. Sources in government have told Citi News that, Flynas, formerly Nas Air, a domestic and international low-cost airline based in Saudi Arabia, is owed the highest amount out of the larger sum. Officials ...

Read More »

Ghana’s economy heavily in debt – Osafo Maafo

Osafo Maafo

President Akufo-Addo’s Senior Minister nominee, Yaw Osafo-Maafo, has described Ghana’s economy as one that is heavily in debt. According to him, the situation can  be rescued by Nana Akufo-Addo’s government which will block all leakages of the country’s sources. He made the remark after he was nominated by the President at the Flagstaff House on Tuesday. He was among 12 others ...

Read More »

VRA owed Ghc5 billion – Angry staff lament

Cephas Duse, Chairman of the Senior Staff Association of the Volta River Authority, (VRA).

The newly elected Chairman of the Senior Staff Association of the Volta River Authority, (VRA), Cephas Duse, has revealed that the power producer is owed to the tune of five billion Ghana cedis. This he said is crippling the company’s effort to be financially viable. He mentioned the mining sector and the Electricity Company of Ghana (ECG) as the major ...

Read More »

N/R: NHIS in limbo as major provider withdraws services


The National Health Insurance Authority (NHIA)’s major service provider in the Northern Region, Peekay Gombi Pharmaceuticals, has withdrawn its services with effect from November 1, 2016. This is because of the NHIA’s failure to pay claims submitted for 13 months of service delivery to NHIS subscribers in the Northern Region. Hundreds of NHIS subscribers in Tamale Metropolis who as usual ...

Read More »

Seth Terkper presses local investors to buy $100m bond

Seth Terkper

Information gathered by Citi Business News indicates that government has commenced meetings with local investors as it prepares to raise its first dollar denominated bond locally. The Finance Minister, Seth Terkper met the investors in Accra last Friday (September 16, 2016), to convince them invest in government’s upcoming $100 million bond this month. The bond, if successful will be used ...

Read More »