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Press Release

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.

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.

GHANA SIGN “FIRST AMENDATORY BUYER’S CREDIT AGREEMENT” AND “CREDIT CONFIRMATION STATEMENT” WITH EXIM BANK OF INDIA ON TEMA TO AKOSOMBO RAILWAY LINE CONSTRUCTION PROJECT TO BE EXECUTED BY AFCONS INFRASTRUCTURES LTD. OF INDIA

Accra, Monday May 29, 2017 -, Hon. Charles Adu Boahen, a Deputy Minister of Finance on behalf of the Hon. Minister for Finance has signed “First Amendatory Buyer’s Credit Agreement” and “Credit Confirmation Statement” on the Tema to Akosombo Railway Line Project at the side lines of the African Development Bank Annual Meetings in India.   
 
2.         On 22nd November, 2016 the Government of Ghana represented by the then Hon. Minister of Finance signed a US$398.33 mn (Three Hundred Ninety-Eight Million, Three Hundred and Thirty-Three Thousand United States Dollars) credit facility provided by Exim Bank of India for the Construction of Tema to Akosombo Railway Line Project after receiving Executive and Parliamentary Approvals on 24th October and 31st October, 2016 respectively.

Guidelines for the Validation of Suspended Workers on the Gov't Payroll

Finance Minister, Ken Ofor-Atta on the 10th of February 2017 requested Controller and Accountant General (CAGD) to inform all public servants on the Government of Ghana mechanized payroll system who had not registered on the new SSNIT biometric system to do so by the end of February 2017.

This directive came into effect on the April 2017 payroll. Consequently, the salaries of 26,589 unregistered workers were suspended indefinitely until their SSNIT re-registration is completed.

Release of Funds for the Payment of Scholarship Claims

Accra, Tuesday May 09, 2017 – Government has released an amount of one hundred and six million, six hundred and ninety-seven thousand, six hundred and twenty-eight Ghana Cedis, eighty pesewas (GHc106,697,628.80) to the Registrar of Scholarships for payment of feeding grants for second cycle schools.
 
2.         The amount is in respect of the 3rd term feeding grant for 137,300 students for the 2015-2016 academic year, and also for 140,264 students for the first term of 2016/2017 academic year.

Appointments at The Ministry of Finance – Government Appoints the First Female Director of Budget

Accra, May 11, 2017 - New officers have been appointed to key positions of the Ministry of Finance. This includes the appointment of Ms. Eva Mends, a Chief Economics Officer as the Acting Director of Budget, the first ever female to be appointed a Director of Budget at the Ministry and the appointment of Mr. Eugene Asante Ofosuhene, as the Acting Controller and Accountant General. 

GOVERNMENT PAYROLL CLEANED

The Minister of Finance, Ken Ofori-Atta, has directed that names of 26,589 public sector workers be removed from the payroll commencing April 2017, since those affected have not been registered on the new SSNIT biometric system, despite several directives to do so.
 
The Minister, in his presentation of the 2017 budget, announced Government’s commitment to clean the payroll. To that effect, the Minister requested that the Controller and Accountant General on the 10th of February 2017, inform all public servants on the Government of Ghana mechanized payroll system who had not registered on the new SSNIT biometric system to do so by the end of February 2017.
 

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