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STC Presents US$1m to Government

STC Presents US$1m to Government

Accra, Friday March 9, 2018 -  The Intercity State Transport Company (STC) has presented an amount of US$1 million to Government. The amount is the second installment for the payment of a loan from the Government of Ghana. 

In October 2016, government bought 50 buses for STC at a cost of US$13 million, to aid in their operations. A first installment of the loan, to the tune of US$700,000, was paid late last year. This brings to US$1.7 million, what has so far been repaid by the STC. The amount paid was in dollars because it is the repayment of a dollar denominated loan.

The presentation was made by the Managing Director of the STC, Nana Akomea to the Minister for Finance, Hon. Ken Ofori-Atta at his office. Mr. Akomea, in his remarks, indicated that STC was working around the clock to ensure that the loan was paid off. “Payments will be made every six months and at this pace, we would clear our debt before time” he indicated.

In attendance were Hon. Abena Osei-Asare, Hon. Kweku Kwarteng and Hon. Charles Adu Boahen, all Deputy Ministers for Finance. Also present were Mr. Kwaku Asiamah, Minister for Transport, Mr. Patrick Nomo, Chief Director, Ministry of Finance and Mr. Samuel Oppong, Board Chairman of the STC. END