We have, this year, budgeted for about 80 billion cedis
to subsidise water and electricity for those who consume at the lower end--i.e., the poor.
The real problem facing Kufuor is the health of the national currency, the Cedi
. It is back to its yo-yoing days.
The paper established that for well over two weeks, a certain Alhaji, a customer, had been calling Jaffah with a request to supply him with the cedi
equivalent of US$90,000.
Some of these royalty payments run into billion of cedis
. This, to us, is enough for chiefs to deal with any financial impenetrability.
As per them w.e.f February 1, the rate of a sachet of water will rise from 20 pesewas to 30 pesewas wherein a bag of 30 packets of sachet water will increase from 3 cedis
to 5 cedis
If these chiefs are to be paid the same amount as members of Parliament (MPs) are currently receiving, the government would be compelled to fork-out thousands of Ghana cedis
every month to take care of them.
This translates into US$1.8 billion per-annum and if you do the conversion in cedis
, it takes you to GH4.5billion.
It would be recalled that the fund experienced some serious challenges with its customers after Groupe Nduom's major business, GN Bank, became a Savings and Loans Company when it failed to meet the Bank of Ghana's new minimum capital requirement of 400 million cedis
Now, the launch of the IPO has begun which will run till the end of February 2016, with ADB expected to raise a total of 398,454,178 cedis
through the IPO.
Alex Frimpong, explained at the meeting that by the Special Compensatory Pay, the company owes the ex-workers millions of cedis
, and that they will compel it to pay them accordingly.
Total Petroleum Ghana Limited has declared a seed finance of 160,000 cedis
to bolster 3 feasible Ghanaian roll out develop their businesses.
If it is true, the authority has lots of questions to answer for deliberately putting lives into danger for a few cedis
in their pockets.