Author: sirrichie_2i8r8t

The Ghana Water Company Limited (GWCL) has explained that the current water rationing in the Sekondi-Takoradi Metropolis is due to the low level of the Pra River. The Pra River is the source of water supply in the Sekondi-Takoradi Metropolis. According to the GWCL, the intake area of the Pra River is silted up, as a result of the activities of illegal miners, to the extent that the company had to spend thousands of Ghana cedis to dredge the intake area. “For instance, we are going to do a bigger form of dredging and we are going to spend about…

Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on the orders of the Swiss regulator as part of its rescue merger with UBS, angering bondholders on Sunday. FINMA, the Swiss regulator, said the decision would bolster the bank’s capital. The move reflects authorities’ desire to see private investors share the pain from Credit Suisse’s troubles. Chair Marlene Amstad said FINMA had stuck to the country’s “too-big-to-fail” banking framework in making the decision. It means AT1 bondholders appear to be left with nothing while shareholders, who sit below…

Luck eluded a young man believed to be in his early 20s when he got stuck in his attempts to allegedly steal from his landlord. Reports indicate that the suspected thief was about to enter the room when the incident occurred at Drobo in the Jaman South Municipality of the Bono Region. According to the reports, the landlord has been the target of consistent burglary in recent times, losing a lot of his belongings. He allegedly decided to cast a spell to help him catch the suspect should he or she return to steal from him again. As expected, the…

At its first in the series of what it calls the ”true state of the nation address”, the National Chairman of the opposition National Democratic Congress, NDC, Mr. Johnson Asiedu Nketiah launched a blistering attack on President Akufo-Addo saying his government has opened wide cleavages in the body politic where the rich are getting richer and the poor poorer. The Chairman of the NDC noted that Ghana arrived at this ignominious point on the backs of corruption and dishonesty on the part of the government which says one thing and does another. ”They said No IMF, now they are cup…

Discussions are currently underway between the Parliament of Ghana and officials from the Electricity Company of Ghana (ECG) as it seeks to avoid disconnection over some GH¢13 million owed ECG. The outcome of this discussion will determine whether the House stays connected to the national grid or is plunged into darkness. A disconnection team is at the premises as the negotiations started on March 20. This forms part of the company’s bid to retrieve about GH¢5.7 billion in unpaid bills across the country. Parliament initially advanced talks about paying GH¢1 million upfront out of its GH¢13 million debt to keep…

The leadership of the New Patriotic Party (NPP) has made a cash donation of GH₵100,000 to support victims of the Kumasi Kejetia Market fire. The party’s General Secretary Justin Kodua made the presentation on behalf of the party. He described the Kejetia fire victims as “true members of the New Patriotic Party who are major stakeholders”. According to the NPP stalwart, the leadership of the trader unions has briefed the party’s national executives on major problems facing the market. He stressed that all their concerns will be put before the appropriate authorities for redress. It will be recalled that an…

Assin Central Member of Parliament has reportedly threatened the New Patriotic Party (NPP) he belongs to, stressing that he has video evidence showing top officials being compromised financially.The MP specifically issued the threat in respect of undercover recordings he claims to have, having intercepted same from investigative journalist Anas Aremeyaw Anas.According to him, content of the said damning audio has been shown to the president and Chief of Staff but that he would proceed to show same to the people of Ghana.“If NPP fools around, I will show the video, I’m only holding on to the video, if anyone doubts…

The Republic, through the Attorney-General, has stated that the State has succeeded in establishing a case against all the accused persons including former Deputy Minister for Finance, Dr. Cassiel Ato Forson, in the criminal trial involving the supply to the State of vehicles unworthy to be used as ambulances in 2015.Arguing in written submissions filed on 16th March, 2023, the Attorney-General, Godfred Yeboah Dame, submits that “a consideration of the evidence led at the trial so far by the prosecution should easily lead to the conclusion that the prosecution has satisfied all the elements of the offences” contained in charges…

Market activity on the Government of Ghana (GoG) bonds rebounded last week after a slump in the previous week. The market recorded only trades in the new bonds, and total volume traded rose 14.85% to ¢150.86 million. The yield curve shifted downward as the new bonds traded around par levels. Yields on the 2027-2030 and 2031-2034 maturities declined by 228 basis points (2.28%) on average, while the 2035-2038 maturities saw an average yield decline of 115 basis points (1.15%). Analysts believe interest in the new bonds will continue to build up as the work on incorporating the payment-in-kind component of…

Chief Executive Officer of C_Energy Ghana, Mike Cobblah, says as the country awaits an International Monetary Fund (IMF) board approval, the government should continually court investors’ confidence. He said this should be done through government’s transparency on measures being put in place to ensure that “by the time the IMF programme kicks in, we have put our house in order and the economy is on a certain trajectory to experience the kind of growth that we expect.” According to him, a failure to adequately address the uncertainties of investors on government’s fiscal measures would be injurious to government-investor relations in…