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June 2017

State-Owned Enterprises Annual Aggregate Report

By the end of 2016, there were a total of 31,089 people employed by the 18 SOEs, with each SOE employing an average of 1,727 people. The total net assets of GoG in the 18 SOEs amounted to GHS 29,565 million. The total on-lent loans outstanding to the sector totaled GHS 6,004.70 million whereas GoG support to 6 of the SOEs was GHS 7,276 million. 

GCB Bank Presents Dividend to Government

GCB Bank has presented a cheque for GH¢21.5 million as dividend payment to government, for the year ending 2016. The total dividend amount is GH¢100 million, with a net profit of GH¢440 million, and a 25 percent dividend yield.

Receiving the cheque, the Minister of Finance, Ken Ofori-Atta expressed his gratitude to GCB Bank for the gesture and commended the Bank for the role it is playing in the Ghanaian economy.

GOVERNMENT APPOINTS FIDELITY BANK AND STANDARD CHARTERED BANK AS LEAD MANAGERS FOR THE ISSUANCE OF AN ESLA BACKED LONG-TERM BOND TO RESOLVE THE ENERGY SECTOR SOE LEGACY DEBTS

Thursday 15th June, 2017. After evaluating ten (10) proposals received in response to our Request for Proposals for Transaction Advisors for an Energy Sector Levy Act (ESLA) backed Bond, the Ministry of Finance is pleased to announce the selection of Fidelity Bank and Standard Chartered Bank led consortia as Joint Lead Managers (JLMs). 

The Joint Lead Managers are expected to work closely with members of their respective syndicates/consortia and any other local banks/ financial institutions as Co-managers with the view to building capacity locally and facilitating knowledge transfer.

Ghana benefits from Germany's 'Compact with Africa' Programme

Ghana is one of the three countries in Africa to benefit from Germany's 'Compact with Africa' Programme.The programme will assist Ghana improve conditions for sustainable private sector investment, infrastructure, economic participation, and generate employment in the country.

This was made known by the Minister for Finance, Ken Ofori-Atta, at a meeting with the Ghanaian community resident in Germany, held in honour of President Nana Addo Dankwa Akufo-Addo, in Berlin.

GHACEM Presents Dividend to Government

Accra, Monday June 5, 2017 – Ghacem Limited, a leading cement producing company in Ghana, has presented a cheque of GH¢3.5 million as part of its dividend payment to government. 
 
The Managing Director (MD) for Ghacem, Mr. Morten Gade, said in December 2016, an initial amount of GH¢4.5 million was paid and that this additional payment of GH¢3.5 million, totalling GH¢8.0 million, represents its final payment of 2016 dividend to government.

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