The news - and a smile
I can but chuckle reading today’s newspapers.
La Palm is a 5 star hotel in Ghana – nice enough 3 star anywhere else - and owned by SSNIT – A government provident fund. Ghana commercial bank is also government owned.
La Palm owes GCB $21 million. La Palm is in kak and cannot pay. GCB gets a liquidation order in June 2005. GCB finally decides to act on the liquidation order.
Government throws a wobbly and steps in to stop one of three decent hotels from having its doors closed.
An initial loan of GBP 6 million appears to “have found it’s way into the wrong bank account” Financial irregularities? They are been investigated.
On the international page it was noted that the EU has banned 92 airlines from operating in its skies. Most from Africa, but what caught the eye was 7 from Swaziland. Now I spent a bit of time in Swaziland and I did not think 7 planes operated in that country, let alone 7 airline companies.
The American embassy is advertising to fill the post of “CCTV Security Technician” I always thought that they controlled security in their embassy very tightly. One can wonder…..
Tis bank reporting season again.
Now I hate the banks here. They are a rip off and ensure that growth in this country is limited.
ECOBANK:
Net Profit Percentage – on net interest – 75%
Fee income ratio to Operating expenses – 0.76
Loans advanced – GHC 1.156 tr
Average interest rate on above loans – 28%
Dividends as a percentage of turnover – 30%
As the say in the classics – fucj the small guy!!
Non performing debt – 2.25%
UPPER MANYA KRO RURAL BANK:
Net Profit Percentage – on net interest – 35%
Fee income ratio to Operating expenses – 0.22
Loans advanced – GHC 11.163 bi
Average interest rate on above loans – 43%
Dividends as a percentage of turnover – 10%
And the aim of a rural bank is to promote rural development. At an average interest rate of 43% - I think not!
Non performing debt – 2.5%
Ghana water company advertises a mass disconnection exercise for those who have not paid their water bill. I am not sure how the people who have their water disconnected will realize that it is due to non payment of bills. Ghana water’s supply record is worse than most people’s payment record. We spent over GHC 2 million buying water for the houses courtesy of GWC’s supply failures. – oh yes. And paid a water bill which was the same as the month before. The query raised will be answered “in due course”
Taxi driver vanishes – cell phone is phoned and some lad answered the phone, GAVE HIS NAME and mentioned said missing driver has traveled to the upcountry. Police visit man and lo and behold find said cell phone and the taxi driver’s taxi…. Which is for sale.
Now arrested man changes story to state said taxi driver has emigrated.
No rocket science – but no body. Finally a skeleton is found at arrested lads parents’ home.
Result: A picture in the paper of arrested man in cuffs holding the rather badly decomposed taxi drivers head.
On Wednesday 29th portions of Ghana will view a total eclipse. I have already purchased my eclipse glasses – GHC 30.000 and am currently working out how to photograph it. Reporter.co.za watch out – article incoming *g*
The vice chancellor of the University of Ghana has mooted a unique way to increase productivity. Reduce annual leave. Considering Ghanians are poorly paid, regularly work in excess of 280 hours a month, I do think the learned gentleman has got it all wrong. 15 days is not what I would call excessive.
And therein dear reader – was the news as reported by the Daily Graphic and the Chronicle.
La Palm is a 5 star hotel in Ghana – nice enough 3 star anywhere else - and owned by SSNIT – A government provident fund. Ghana commercial bank is also government owned.
La Palm owes GCB $21 million. La Palm is in kak and cannot pay. GCB gets a liquidation order in June 2005. GCB finally decides to act on the liquidation order.
Government throws a wobbly and steps in to stop one of three decent hotels from having its doors closed.
An initial loan of GBP 6 million appears to “have found it’s way into the wrong bank account” Financial irregularities? They are been investigated.
On the international page it was noted that the EU has banned 92 airlines from operating in its skies. Most from Africa, but what caught the eye was 7 from Swaziland. Now I spent a bit of time in Swaziland and I did not think 7 planes operated in that country, let alone 7 airline companies.
The American embassy is advertising to fill the post of “CCTV Security Technician” I always thought that they controlled security in their embassy very tightly. One can wonder…..
Tis bank reporting season again.
Now I hate the banks here. They are a rip off and ensure that growth in this country is limited.
ECOBANK:
Net Profit Percentage – on net interest – 75%
Fee income ratio to Operating expenses – 0.76
Loans advanced – GHC 1.156 tr
Average interest rate on above loans – 28%
Dividends as a percentage of turnover – 30%
As the say in the classics – fucj the small guy!!
Non performing debt – 2.25%
UPPER MANYA KRO RURAL BANK:
Net Profit Percentage – on net interest – 35%
Fee income ratio to Operating expenses – 0.22
Loans advanced – GHC 11.163 bi
Average interest rate on above loans – 43%
Dividends as a percentage of turnover – 10%
And the aim of a rural bank is to promote rural development. At an average interest rate of 43% - I think not!
Non performing debt – 2.5%
Ghana water company advertises a mass disconnection exercise for those who have not paid their water bill. I am not sure how the people who have their water disconnected will realize that it is due to non payment of bills. Ghana water’s supply record is worse than most people’s payment record. We spent over GHC 2 million buying water for the houses courtesy of GWC’s supply failures. – oh yes. And paid a water bill which was the same as the month before. The query raised will be answered “in due course”
Taxi driver vanishes – cell phone is phoned and some lad answered the phone, GAVE HIS NAME and mentioned said missing driver has traveled to the upcountry. Police visit man and lo and behold find said cell phone and the taxi driver’s taxi…. Which is for sale.
Now arrested man changes story to state said taxi driver has emigrated.
No rocket science – but no body. Finally a skeleton is found at arrested lads parents’ home.
Result: A picture in the paper of arrested man in cuffs holding the rather badly decomposed taxi drivers head.
On Wednesday 29th portions of Ghana will view a total eclipse. I have already purchased my eclipse glasses – GHC 30.000 and am currently working out how to photograph it. Reporter.co.za watch out – article incoming *g*
The vice chancellor of the University of Ghana has mooted a unique way to increase productivity. Reduce annual leave. Considering Ghanians are poorly paid, regularly work in excess of 280 hours a month, I do think the learned gentleman has got it all wrong. 15 days is not what I would call excessive.
And therein dear reader – was the news as reported by the Daily Graphic and the Chronicle.
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