• About
  • Contcat Us
  • Privacy Policy
Sunday, May 28, 2023
Primenews.com.gh
No Result
View All Result
  • HomePage
  • Ghana News
  • Politics
  • Entertainment
  • Sports
  • HomePage
  • Ghana News
  • Politics
  • Entertainment
  • Sports
No Result
View All Result
Primenews.com.gh Logo
No Result
View All Result
Home general news

Neoplan Ghana announces date for total shut down

by Mutala Yakubu
2020-01-27
in general news
Neoplan Ghana announces date for total shut down
37
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Neoplan Ghana Limited one of the country’s oldest transport companies has announced that they will be shutting down soon.

Neoplan in a memo to all staff of the company in Accra and Kumasi announced that they will cease to operate from Friday, January 31, 2020.

The company set up on December 12, 1974, say the reason for the closure is due to the lack of contracts and recurring monthly losses.

The company said the last time it was given a government contract was in 2002, which ended in 2010 and saw the production of 450 DAF/VDL buses for the Metro Mass Transit Ltd.

READ ALSO

Newspapers headlines: Wednesday, May 24, 2023

BoG maintains policy rate at 29.5%

ADVERTISEMENT

READ ALSO: Most excavators seized from illegal miners have disappeared – Prof. Kwabena Frimpong-Boateng

Dated January 15, 2020, and titled “Closure of Neoplan (Ghana) Limited”, the memo signed by the Managing Director of the company, Mr. Georges Nassar, a copy of which is in the custody of the Daily Graphic, states: “Management regretfully informs you that Neoplan (Ghana) Limited will be closing down its branches on 31st January 2020.”

“This is due to lack of contracts and recurring monthly losses incurred. As a result, all employment contracts with the company will be terminated as of the said date until further notice,” the memo added.

Mr. Georges Nassar speaking to Graphic said the decision had been informed by the inability of the minority shareholder, the Fadoul Group, to continue funding the company all by itself, while the government which was the majority shareholder contributed nothing to its running.

“In the past six, seven years, we have been running the company ourselves without any contribution from the government. In 2016, we asked the government to buy additional shares from them so that we can finance the company ourselves.

“In 2016, we paid them for the shares. They didn’t give us the shares and they kept the money with them,” an exasperated Mr Nassar said, adding that the money paid for the shares was $173,000.

He explained that the money was paid to the Divestiture Implementation Committee (DIC) but the cheques were never released, yet the money was never returned.

In addition, he said since 2016 the minority shareholders had invested about GH¢10 million in the company, while about GH¢260,000 had been lost every month in revenue during the period.

 

ShareTweetSend
Previous Post

Sammy Gyamfi’s arrest is unlawful – Lawyer Tamakloe

Next Post

School activities continue at Achimota Prep.School despite gov’t’s takeover

Related Posts

Newspapers headlines: Monday, May 22, 2023
general news

Newspapers headlines: Wednesday, May 24, 2023

2023-05-24
BoG maintains policy rate at 29.5%
general news

BoG maintains policy rate at 29.5%

2023-05-23
Sammi Awuku
general news

NLA boss Sammi Awuku adjudged best public sector CEO

2023-05-23
WhatsApp to allow users to edit messages within 15 minutes
general news

WhatsApp to allow users to edit messages within 15 minutes

2023-05-23
Newspapers headlines: Monday, May 22, 2023
general news

Newspapers headlines: Tuesday, May 23, 2023

2023-05-23
Gov’t misses GHS 2.7bn auction target by GHS 5m
general news

Gov’t misses GHS 2.7bn auction target by GHS 5m

2023-05-22
Next Post
Achimota School

School activities continue at Achimota Prep.School despite gov't's takeover

People wear masks to defend against coronavirus

Ghanaian students in China demand evacuation back to Ghana due to spread of coronavirus

ADVERTISEMENT

TRENDING NEWS IN GHANA

Inter beat Fiorentina to win Coppa Italia

Inter beat Fiorentina to win Coppa Italia

2023-05-25
Newspapers headlines: Monday, May 22, 2023

Newspapers headlines: Wednesday, May 24, 2023

2023-05-24
Juventus handed 10-point deduction amid transfer dealings case

U-23 AFCON: Black Meteors coach Ibrahim Tanko invites 22 players for camping in Prampram

2023-05-23
BoG maintains policy rate at 29.5%

BoG maintains policy rate at 29.5%

2023-05-23
Juventus handed 10-point deduction amid transfer dealings case

Kotoko moves into top-four with Kotoku Royals win

2023-05-23
Juventus handed 10-point deduction amid transfer dealings case

Juventus handed 10-point deduction amid transfer dealings case

2023-05-23
Sammi Awuku

NLA boss Sammi Awuku adjudged best public sector CEO

2023-05-23
Meta: Facebook owner fined €1.2bn for mishandling data

Meta: Facebook owner fined €1.2bn for mishandling data

2023-05-23
WhatsApp to allow users to edit messages within 15 minutes

By-election: Kumawu elects new MP today

2023-05-23
Newcastle secure top-four finish with Leicester draw

Newcastle secure top-four finish with Leicester draw

2023-05-23
ADVERTISEMENT

Must Reads

NLA boss Sammi Awuku adjudged best public sector CEO

Meta: Facebook owner fined €1.2bn for mishandling data

By-election: Kumawu elects new MP today

Newcastle secure top-four finish with Leicester draw

Ray Stevenson: Thor and Star Wars actor dies aged 58

About

A Prime Network Limited Website.

Follow us

No Result
View All Result
  • HomePage
  • Ghana News
  • Politics
  • Entertainment
  • Sports

©2015 - 2020 Primenews.com.gh

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.