• About
  • Contcat Us
  • Privacy Policy
Sunday, July 3, 2022
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
27
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.

ADVERTISEMENT

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

NPP Elections: Prof Kalmonia re-elected as Savannah chairman

High price volatility makes crypto assets unattractive as a means of payment – BoG

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

NPP Elections: Prof Kalmonia re-elected as Savannah chairman
general news

NPP Elections: Prof Kalmonia re-elected as Savannah chairman

2022-05-28
Russia-Ukraine conflict presents further risk to recovery – BoG Governor
general news

High price volatility makes crypto assets unattractive as a means of payment – BoG

2022-05-28
Kwame Jantuah wants Independent Commission to probe Sir John’s will, not OSP
general news

Kwame Jantuah wants Independent Commission to probe Sir John’s will, not OSP

2022-05-28
The debt challenges are compounding for us in Africa – Akufo-Addo
general news

The debt challenges are compounding for us in Africa – Akufo-Addo

2022-05-28
COCOBOD closes purchases for 2021/2022 main crop cocoa season
general news

COCOBOD closes purchases for 2021/2022 main crop cocoa season

2022-05-28
2 killed in robbery at gold shop at Asamang Tamfoe
general news

2 killed in robbery at gold shop at Asamang Tamfoe

2022-05-28
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

Iga Swiatek

Iga Swiatek beats Coco Gauff for second French Open title

2022-06-04
Shakira and footballer Gerard Piqué announce split after 12 years

Gerard Pique and Shakira announce split after 12 years

2022-06-04
Ibrahim Danlad

Kotoko shot-stopper Ibrahim Danlad receives Black Stars call up for four-nation tournament

2022-06-04
Felix Afena-Gyan

Photos: Black Stars arrive in camp ahead of AFCON 2023 qualifiers

2022-05-28
Alfred Duncan

Alfred Duncan retires from Black Stars at age of 29

2022-05-28
NPP Elections: Prof Kalmonia re-elected as Savannah chairman

NPP Elections: Prof Kalmonia re-elected as Savannah chairman

2022-05-28
Russia-Ukraine conflict presents further risk to recovery – BoG Governor

High price volatility makes crypto assets unattractive as a means of payment – BoG

2022-05-28
Kwame Jantuah wants Independent Commission to probe Sir John’s will, not OSP

Kwame Jantuah wants Independent Commission to probe Sir John’s will, not OSP

2022-05-28
The debt challenges are compounding for us in Africa – Akufo-Addo

The debt challenges are compounding for us in Africa – Akufo-Addo

2022-05-28
COCOBOD closes purchases for 2021/2022 main crop cocoa season

COCOBOD closes purchases for 2021/2022 main crop cocoa season

2022-05-28
ADVERTISEMENT

Must Reads

High price volatility makes crypto assets unattractive as a means of payment – BoG

Kwame Jantuah wants Independent Commission to probe Sir John’s will, not OSP

The debt challenges are compounding for us in Africa – Akufo-Addo

COCOBOD closes purchases for 2021/2022 main crop cocoa season

2 killed in robbery at gold shop at Asamang Tamfoe

Malawi slashes the value of its currency

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.