June 25

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Inside June 25, 2018 .qxp_Layout 1 6/22/18 9:17 PM Page 7 22TH JUNE 2018 FRIDAY CURRENCY PARIS CODE BUYING SELLING US Dollar USDGHS 4.4697 4.4742 RATES Pound Sterling GBPGHS 5.9246 5.9310 Euro GBPGHS 5.1993 5.2040 10 DAILY HERITAGE MONDAY, JUNE 25, 2018 WWW.DAILYHERITAGE.COM.GH We are ready for consolidation - SG MD BY ROSEMOND BOATENG ADDAI rosemond.adjetey@yahoo.com SOCIETE GENERALE Ghana has hinted that it is prepared to meet the new minimum capital requirement by the Bank of Ghana. The outgoing Managing Director (MD) of the bank, Mr Sionle Yeo, explained that the requirement was important in order to make them stronger and be able to finance legal transactions of the bank. According to him, the bank is ready to be part of a consolidation as the bank has gained the permission at the group level. “Should there be any opportunity that we deem good for us, so clearly, not only would we meet the minimum capital required on our own but also we are ready to be a player of a consolidation should we have any significant opportunity,” he explained. Mr Yeo, outlining some of the bank’s success at a Business Cocktail organised by the bank, said 2017 was a good year as it showed the success of the transformational strategy designed in 2015 and implemented in 2016. He said “in 2017 our gross loan book grew by over 42% for both retail and corporate, translating into steady market share gains from 3% in 2016 to over 4% in 2017.” He added that the bank had contributed towards the development in the country, as their key objective as a bank is to ensure the growth and sustainability of smallscale enterprises and corporate clients that would propel the economy of Ghana to greater heights. Mr Hakim Ouzzani, the incoming MD of the bank, in his remarks, said from his experience in the banking sector he could see •Mr Sionle Yeo, outgoing MD, SG Ghana emerging competitions within the Ghanaian banking industry. He, however, said, “The competition should move to a culture where banks effectively reach out to the clients and the general public to mobilize deposits and provide financial support for businesses, particularly corporate clients and SMEs.” According to the in-coming MD, the bank will follow practices that will promote efficient market penetration in order to increase their market share within the Ghanaian banking industry. He assured the staff that staff welfare and human development would be very high on his agenda because the staff and clients are assets of the bank. Mr Alexander Matmat, Director of International Banking of Africa, Mediterranean Basin and Overseas of SG Group, Paris, stated that as a true development of the Government of Ghana, SG Paris and SG Ghana had financed quite a number of projects for the government in the various sectors of the economy to the tune of US$653 million from 2008 to 2018. He said “this excludes the SG Group’s participation in the cocoa syndication from1997 to date and financing of Parliamentary and Council of State car loans as well as the financing of the government’s ‘One District, One factory’ policy.” We lied against Mac Manu – GPHA Staff STAFF OF the Ghana Ports and Harbours Authority (GPHA) have backtracked on their allegations against their board chairman, Mr Peter Mac Manu, and his family. According to the staff, all the wild allegations they made against Mr Manu and his wife, in particular, concerning contract grabbing at the Authority are false and so withdraw them. The staff, among a litany of allegations, said Mr Manu’s wife had been rewarded with a juicy ticketing contract and charging the Authority cut-throat prices. Mr Manu described those allegations as “bogus lies” and held a counter press conference to rubbish the claims. “Some facts have come to our notice, which, on hindsight, we would not have brought into the public domain against Mr Peter • Peter Mac Manu, Board Chairman, GPHA Mac Manu and his family at our press conference. “We therefore withdraw the allegations against Mr Peter Mac Manu and in particular, his wife and sons, and unreservedly apologize to them,” the senior and junior staff union apologised at a press conference on Friday, June 22, 2018. Below is their full statement: On the 24th of May 2018, we invited you to our press conference held at the Junior Staff Club House in Takoradi. At the press conference, we levelled allegations against Mr Peter Mac Manu, Chairman of the Board of Directors of GPHA, and some members of his family. We of the Union want to put it on record that we did not call the press conference and level the allegations against the Chairman out of malice. As a Union and social partner with a common objective of working together with management towards achieving the objectives of GPHA, we had some serious concerns about the happenings in GPHA, which we were not happy about. After the press conference, it has come to our notice that we did not engage management the more as we should have done before holding the press conference. Some facts have come to our notice, which, on hindsight, we would not have brought into the public domain against Mr Peter Mac Menu and his family at our press conference. We therefore withdraw the allegations against Mr Peter Mac Manu and in particular, his wife and sons, and unreservedly apologize to them. Nevertheless, we, as a union, with a role to protect public interest will not shirk our responsibility as watchdogs-of-accountability in the governance of public institutions. We think there must be peace and solidarity with our social partners at the workplace to achieve our goals. We are sorry for the embarrassment and inconvenience our press conference might have caused Mr Peter Mac Manu and members of his family and once again we apologize unreservedly. Thank You for having time to attend this press conference. Signed Benjamin Narh, Secretary Henry Papa Oppong Keku Armuzuah Maxwell Kudjoe Senior and Junior Staff of Local Unions of Ghana Ports and Harbour Authority of Tema and Takoradi
Inside June 25, 2018 .qxp_Layout 1 6/22/18 9:17 PM Page 8 WWW.DAILYHERITAGE.COM.GH DAILY HERITAGE MONDAY, JUNE 25, 2018 11 Politics Do not mind anything that anyone tells you about anyone else. Judge everyone and everything for yourself —Henry James Cedi depreciation: Bawumia, IGP must resign – Sam George BY ALEX SEMORDZI MEMBER OF Parliament for Ningo- Prampram, Sam Nartey George has called for the heads of the Vice President, Dr Mahamudu Bawumia and the Inspector General of Police (IGP), David Asante-Apeatu to roll, for failing to deliver on the promise of stabilising the cedi against the dollar. “As a matter of principle, Dr Bawumia and the IGP must •Sam Nartey George, MP Ningo-Prampram step down because the Cedi has broken jail.” He was speaking on Starr Fm`s morning show Morning Starr with host Francis Abban. According to him, the fast nature of the depreciation of the cedi was a clear indication of a failed government. He said he recalled Dr Bawumia made an emphatic statement with regards to stabilising the cedi by way of arrest. “Dr Bawumia told us that he has arrested the cedi and locked it and had given the keys to the IGP, meaning the cedi was now in the custody of the police, but what are we seeing now, the cedi has jail break.” The former presidential staffer laid the blame of the current cedi depreciation right at the doorstep of the vice President, accusing him of not being truthful to the people of Ghana and also failing to apologise for same in the manner in which the Ghanaian currency was losing value. Although the government has maintained that it had put in place robust measures to halt the free fall of the cedi in the coming weeks, Sam George pooh-poohed those measures saying it’s just “talk shop.” The current rate of the cedi depreciation has sparked debate between the government and the major opposition party, the National Democratic Congress with both parties always playing politics with the issue. Integrity. Fairness. Service. DOMESTIC TAX REVENUE DIVISION QUARTERLY PAYMENT OF INCOME TAX SECOND QUARTER 2018 The Commissioner General of the Ghana Revenue Authority ( GRA) wishes to remind all Ta axpayers, Com panies, Entities, Individuals including Self Employed P ersons and Partnerships that the Second Quarter Income Ta x installment payment for 2018 is due by 30th June, 2018. The second 2018. quarter instalment payment must be settled on or b efore Saturday, 30th June, Please note that failure to pay Income Ta x on due date attracts an interest of 125% of the statutory rate compounded monthly on the outstanding t ax. NOTE AS 30TH JUNE, 2018 FALLS ON A WEEKEND, PAYME NT OF INCOME AT THE TAX OFFICE BY 12 NOON FRIDAY 29TH JUNE, 2018. COMMISSIONER GENERAL Visit our website:www.gra.gov. gh # OurTaxesOurFuture TAX MUST BE RECEIVED
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June 25

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