B&FT – Dubious vehicle registrations.

…economy losses 30% in revenue.

About 70% of private vehicles are registered without going through the due process of inspection and testing as directed by the Ministry of Transport, Godfred Takyi, a Market Research Analyst has said.
That this omission, cost government about 30% of the total revenue which finds its way into private pockets.

The DVLA collected GH?29,204,638.09 in revenue during the first half of the year 2016, which came from the registration of 68,647 vehicles and projected to register 411,882 vehicles worth GH¢58,409,276.18 at the end of 2016, the report said.

The industry projection is GH¢ 3,504,556,570.8 in the next five years, but the company may miss it target if it does not check the revenue leakage by tightening it supervision and inspection activities.

Out of a total of 2,032,538 registered vehicles plying the roads of the country, DVLA is able to register only 1,045138 every year, this excludes the 15,680 vehicles registered by the security services such as the Ghana Army Forces, the Ghana Police Service and Prison Service and other Government Ministries.

Only 3 banks in line to meet capital requirements

Only three banks out of the 34 banks currently operating in the country are in a position to meet the new GH₵400 million minimum capital requirement set by the Central bank of Ghana BoG without recourse to additional capital, credit consultant, Emmanuel Akrong has said.

The list has only GCB Bank, which recently absorbed indigenous banks Capital and UT banks as the only local bank.
The rest include Zenith bank and Barclays Bank which Mr Akrong said are the only banks that might not require additional capital to meet the minimum capital requirements for 2018.

Too many telcos for a small population – Vodafone CEO
Six telecommunication companies operating in Ghana is too much for a relatively small population of 28 million, Chief Executive Officer of Vodafone Ghana, Yolanda Zoleka Cuba, has said.

According to Ms Cuba, who is also the Chairperson of the Ghana Chamber of Telecommunications, the current population does not support the number of telcos or nor does it warrant new players.

In an interview with the B&FT, the Chief Executive Officer of Vodafone Ghana, Yolanda Zoleka Cuba said: “I agree to the many assertions that, with a population that is around 28 million, having the current number of telecom companies is too much. There are far too many telcos in the country, considering the population.”

National Communications Authority (NCA) data shows that there are currently six mobile operators in the country serving almost 40 million mobile voice users.

Market giants MTN, Vodafone, Airtel and Tigo have been battling out ‘small guns’ like Glo and Expresso with MTN leading the pack with almost 17 million users.

Even though there are only six telcos operating in the country, B&FT sources within the industry have disclosed that, the NCA is considering application from more than 3 three new operators who have interest in entering the Ghanaian market. These applicants, include T-Mobile.

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