Keep reading for more updates from the rest of the dailies
I RECEIVED CHEQUE FOR $3.5M BUT CAN’T TELL HOW IT WAS DISBURSED – KPODO
A former Ghana High Commissioner to the United Kingdom (UK), Mr Chris Kpodo, yesterday confirmed that he received and lodged a cheque for $3.5 million out of the proceeds from the sale of the GNPC drill ship into a Ghana International Bank account in London.
COUNTERFEIT CURRENCY DEALER ARRESTED AT ALAJO
A suspected currency dealer has been arrested for possessing counterfeit GHC50 notes amounting to GHC97,350 at Alajo in Accra.
FORTIZ CONCLUDES DEAL TO TAKE OVER MERCHANT BANK
Indigenous equity firm, the Fortiz Private Equity Fund, has concluded the acquistion of some 90 per cent stake in Merchant Bank Ghana (MBG) Limited.
Business and Financial Times
INFRASTRUCTURE MUSTN’T DISPLACE AGRIC – PwC WARNS IN BUDGET COMMENTARY
Government’s efforts to narrow the country’s infrastructure deficit by the boosting spending on roads, ports, power plants and other projects should not be to the detriment of agriculture, which holds the biggest potential for curbing rising unemployment, PwC – the accounting, audit and tax firm – has said in a commentary on the 2014 budget.
FIX STRUCTURAL ECONOMIC ISSUES – ECA BOSS
The Executive Secretary of the United Nation’s Economic Commission of Africa (UNECA), Carlos Lopes, has asked African governments to take advantage of the positive global sentiments about the continent to fix the structural problems in their economies to kick start the economic transformation agenda.
VRA ASSESSING WIND-POWER SITES
The Volta River Authority (VRA) has begun the search for the most suitable location in the country for construction of a 100-150 megawatt (MW) wind farm.
The New Statesman
TUC BETRAYS WORKERS – AS NDC FORCES ‘BOGUS’ MERCHANT BANK SALE ON GHANAIANS
The leadership of the Trade Union Congress has come under fire for keeping quiet over the decision by the Mahama-led National Democratic Congress to allow the sale of Merchant Bank to Fortiz Private Equity Fund.
2014 BUDGET IS DISJOINTED; MINORITY LEADER SAYS ECONOMY IS IN BAD SHAPE
The Minority Leader in Parliament, Osei Kyei Mensa Bonsu, says because Ghana currently has no Minister in charge of economic planning the spine of the 2014 Budget is disjointed and farught with many cracks and fissures.
STUPID, USELESS, FOOLISH – KT HAMMOND EXPLODES
The closing session of the debate on the 2014 financial policy and budget statement of the government and its subsequent approval yesterday was characterised by rowdiness when members of the minority New Patriotic Party (NPP) and the majority National Democratic Congress (NDC) wildly traded accusations and counter-accusations over the GHC 52 million Woyome scandal and $24 million GNPC drill ship palaver.
I RECEIVED $3.5M CASH
Ghana’s former Acting High Commissioner to United Kingdom and a Deputy Foreign Minister under Mills-Mahama administration, Chris Kpodo, yesterday confirmed that he received a cheque for 3.5 million as the balance of the $24 million accruing form the sale of the Ghana National Petroleum Corporation (GNPC) drill ship Discover 511.
FORTIZ OWNS MERCHANT BANK
Fortiz PE, a Private Equity Fund Limited, has officially announced the takeover of Merchant Bank Ghana Limited.
DEBT-GHANA SINKS DEEPER – HIPC STARES AT US AGAIN
Last week, the Governor of the Bank of Ghana, Dr Kofi Wampah, announced that plans were underway to open auctions of one year and two year treasury notes to foreign investors. When this happens it will mean that foreigners can hold all types of Ghana’s public domestic debt except the instruments with the shortest tenors, these being 91 day and 182 day treasury bills.
BANKS LOSE DEPOSITS MARKET SHARE
Commercial banks are now feeling the pinch for the hitherto ignoring and frustrating retail depositing Ghanaians and Small and Medium Scale Enterprises (SMEs).