Pius Amihere Blay

Customer deposits still remain a major source of revenue for commercial banks. As a result, commercial banks also bear greater responsibility to their customers in earning interests on such deposits. The latest banking sector report by the Bank of Ghana shows that deposits accounted for 62.5 percent of the banking industry’s assets as at December 2017. According to the central bank’s data, total deposits went up by some 6.67 billion cedis between December 2016 and the same period last year.

The Senior Staff of the Bulk Oil Storage and Transportation Company (BOST) are predicting a shortage in fuel following what they say is the continuous interference by a cartel in the company’s activities. Secretary of the Senior Staff Association of BOST, Ekow Sey claims that some Bulk Oil Distribution Companies (BDCs) and highly placed individuals, who form the cartel, have since October last year (2017), prevented BOST from importing petroleum products into the country.

It is emerging that the much anticipated reduction in electricity tariffs may take a bit longer than expected. This is because the Electricity Company of Ghana (ECG) has explained that the reduction will only reflect on the bills of consumers when they make their second purchase of credit for electricity for April. The latest also follows the shift of the implementation date of the tariff reduction from March 15, 2018 to April 1, 2018.