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Odawna Market reopens for business after fire outbreak

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Odawna Market reopens for business after fire outbreak

Odawna Market reopens for business after fire outbreak

The Odawna Market has re-opened for business after its closure last Friday due to a fire outbreak.

According to the Director-General for the National Disaster Management Organization (NADMO), Eric Nana Agyeman-Prempeh, the closure of the market was to enable a smooth flow of investigations into the root course of the fire outbreak.

Speaking to Adom News, the Director in-charge of Inspection at NADMO, Richard Amo Yartey said the decision to open the market is to ensure that those who were not affected by the fire, start work as they continue investigations into the cause of the fire.

“Assessment is still ongoing, we want to get to the root of the matter to take measures to ensure that this doesn’t happen again, agencies have started bringing their reports so I am sure by the end of this week, we will have a final report of the investigations to see the way forward,” he stated.

A raging fire hit the Odawna Market at the Kwame Nkrumah Circle in Accra Wednesday evening which destroyed shops and other properties.

According to reports, this hasn’t been the first time an incident like this has happened in the Market.

Source: adomonline.com

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Suame Municipality generates GH¢1.2 million as revenue

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Suame Municipality generates GH¢1.2 million as revenue

The Suame Municipal Assembly in the Ashanti Region raked in a total of GH¢1, 213, 040.54 as revenue for the year 2018.

This represented 85.42 per cent of the targeted revenue of GH¢1, 420, 112.19.

Dr John Osei Bobie Boahin, the Municipal Chief Executive (MCE), who disclosed this said for the first quarter of this year, the Assembly had collected an amount of GH¢625, 179.70 from the various revenue sources.

Addressing the first ordinary meeting of the Second Session of the Assembly at Suame, he indicated that the figure represented 25. 83 per cent of the targeted revenue of GH¢2, 420, 688. 77.

“If the trend proceeds as planned, the Assembly is likely to exceed its revenue target by the end of 2019,” the MCE noted, saying the authorities were determined to mobilize the needed revenue for development purposes.

For that reason, he said, the Assembly had engaged Messrs Heinz Integrated Systems, a private data and revenue collection firm to collect the needed data on all payable properties in the Municipality, using the latest data collection software for effective service delivery.

“As I speak, progress of work on the data collection exercise is at an advanced stage. The consultant is gradually meeting the deliverables within the framework of the project scope and specifications,” Dr. Osei Bobie Bohin noted.

The MCE stated that collection of the data would enable the Assembly to make appropriate projections and forecast regarding the revenue inflows.

On agriculture, he hinted that the Assembly was facilitating access of farmers and agro-processors to processing machines and equipment produced at Suame Magazine.

This is aimed at reducing the importation of agricultural machinery and equipment to mechanics at the Magazine in order to move Ghana beyond aid.

Source: ghananewsagency.org

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SSNIT engages government on GH¢1bn arrears

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SSNIT engages government on GH¢1bn arrears

The Social Security and National Insurance Trust (SSNIT) says it is confident of accessing claims due it from the government to aid its operations.

As at last year (2018), the outstanding claims that the government was expected to give to the pension management firm, was estimated at one billion cedis.

Some industry watchers have attributed the development to the constraint faced by SSNIT in meeting the needs of its contributors and undertake other investment ventures.

But the Director General of SSNIT, Dr. John Ofori Tenkorang maintains that there are discussions with the Finance Ministry to access the outstanding payments.

He was speaking at a media engagement on the Trust’s operations over the weekend.

“We are engaged with the Ministry of Finance to come up with a solution and that we have agreed would have to involve some kind of cash payments and bonds that are issue…The people in charge of the Trust’s investment portfolio have made a case that there is the need to invest in some fixed incomes and the best issuer of bonds when the yield is right in terms of credit is the government,” he explained.

Dr. Tenkorang added that their ability to redeem the money on time should facilitate the cash flow required for a portfolio of their magnitude.

“So if we get the arrears paid to us in some kind of financial instrument that is acceptable to us, I think it will be okay for us. I am confident that the short term cash flow issues will be resolve and we will get our bonds.”

Meanwhile SSNIT has denied allegations that it is cheating out contributors of their benefits based on the Scheme’s flawed computation system.

A committee of the Trade Unions Congress (TUC) identified gaps in SSNIT’s computation of pension benefits for its contributors.

The Committee reported that SSNIT misinterprets what constitutes annual salary, early retirement reduction factor and annuity factor on lump sum which ultimately affects the contributor.

Though SSNIT admits that there may indeed be a fundamental flaw with the legal regime on pensions, it maintains that the Scheme is not cheating.

“Both parties have acknowledged that and have embarked on a process to correct these and it will probably end up in some list of amendments that we would seek to be legislated so that it governs the way we do things,” Director-General of SSNIT, Dr. John Ofori Tenkorang affirmed in an interview with Citi News.

Source: citibusinessnews.com

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Founder of Angel group ranked among top 100 influential company owners globally

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Founder of Angel group ranked among top 100 influential company owners globally

Founder of Angel group ranked among top 100 influential company owners globally

The President and Founder of the Angel Group of Companies, Dr. Kwaku Oteng has been ranked among the 100 most influential company owners worldwide.

At an event held at Institute of Directors, London by the Achievements Forum, the business mogul was celebrated among the top 100 influential company owners whose activities have affected their countries of origin positively.

Under the auspices of the Europe Business Assembly (EBA) Oxford, UK, Dr Kwaku Oteng was nominated for an award for his influence and contribution to Ghana and the world as a whole.

They were elated for his consistency in growing the Adonko brand within the shortest space of time with other nominees from countries like Canada, USA, UK, Malaysia, Nigeria, India, Philippines, Switzerland, Tanzania, Ivory Coast and China being recognized.

The Achievements Forum is a unique platform for international business and professional communication, sharing of the best practices in managing companies, institutions and cities, as well as promoting goods and services, and the opportunity for a comprehensive improvement of any business processes.

Achievements Forum’ has grown through a combination of international cooperation and positive commercial outcomes. Grounded in, and attracting high profile delegates from the real world of business, the function is a key driver in the development of practical commercial exchanges.

Top executives, business gurus, senior state officials, as well as educational management experts and academic professionals use the motivational opportunity to be present among the figures of their own stature.

Source: mynewsgh.com

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