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Business News of Wednesday, 2 July 2014
Source: GNA
Societe Generale (SG)-Ghana, has pledged to stand with the private sector and give every support to aid its growth.
Mr Kwaku Tweneboah-Koduah, the Head of its Retail Banking, said, it is determined to spearhead key reforms and introduce more innovative products to assist businesses of all sizes to optimally operate.
As the bank leads efforts to improve banking services through doorstep banking, foreign exchange and commodity hedging, consumer credit loan and Sika Card, he said, it has made customer care one of its top priorities. SG currently has 39 networked branches, providing retail, corporate and small-scale entrepreneurial clients with dedicated services.
Mr Tweneboah-Koduah, addressing customers during a raffle draw in Kumasi, said they could only expect first class services. The competition dubbed: The Power of GH250 Deposit Promo Raffle Draw, is a reward to the banks loyal customers and a way to encourage them to save.
Under it, customers have to deposit a minimum amount of GH250 into their savings account to earn points and stand the chance of winning prizes. The competition is being organized by SG-Ghana with the support of the National Lottery Authority (NLA).
In all, 30 out of the about 2,000 customers who entered for the draw in Kumasi received prizes ranging from digital television sets, washing machines, smart phones, microwave ovens, blenders to electrical kettles.
Mr Tweneboah-Koduah congratulated the award winners, and said the bank would continue to meet the expectations of its customers.
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SG-Ghana pledges more support to aid business growth
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It has been six weeks since the city turned off Nicole Hill's water.
Dirty dishes are piled in the sink of her crowded kitchen, where the yellow-and-green linoleum floor is soiled and sticky. A small garbage can is filled with water from a neighbor, while a bigger one sits outside in the yard, where she hopes it will collect some rain. She's developed an intricate recycling system of washing the dishes, cleaning the floor and flushing the toilet with the same water.
"It's frightening, because you think this is something that only happens somewhere like Africa," said Hill, a single mother who is studying homeland security at a local college. "But now I know what they're going through when I get somewhere there's a water faucet, I drink until my stomach hurts."
Hill is one of thousands of residents in Detroit who have had their water and sewer services turned off as part of a crackdown on customers who are behind on their bills. In April, the city set a target of cutting service to 3,000 customers a week who were more than $150 behind on their bills. In May, the water department sent out 46,000 warnings and cut off service to 4,531. The city says that cutting off water is the only way to get people to pay their bills as Detroit tries to emerge from bankruptcy the utility is currently owed $90 million from customers, and nearly half the city's 300,000 or so accounts are past due.
But cutting off water to people already living in poverty came under criticism last week from the United Nations Office of the High Commissioner for Human Rights, whose experts said that Detroit was violating international standards by cutting off access to water. "When there is genuine inability to pay, human rights simply forbids disconnections," Catarina de Albuquerque, the office's expert on the human right to water and sanitation, said in the communique.
"Are we the kind of people that resort to shutting water off when there are disabled people and seniors?" said Maureen Taylor, chair of the Michigan Welfare Rights Organization. "We live near the Great Lakes, we have the greatest source of fresh water on Earth, and we still can't get water here."
The issue of utility affordability is acute in Detroit, with its high proportion of low-income residents and an infrastructure whose costs were once borne by a much larger population. But municipal analysts say the problem is becoming more prevalent everywhere as extreme weather and its unusual range of high and low temperatures force utility bills ever upward.
In Iowa, for instance, there were nearly 10,000 electricity and gas disconnections in April, a state record, as the weather warmed and utilities could shut off power without breaking the law. (Many states have laws prohibiting the disconnection of gas or electricity during the cold winter or hot summer months.)
But the price of water and sewer services has far outpaced other utilities and the rate of inflation, according to Jan Beecher with the Institute of Public Utilities at Michigan State University. The reason is that much of the nation is in a construction and renovation cycle, with cities spending billions on renovations after long neglecting them.
Whereas federal programs have been developed to help people pay for the rising cost of fuel and electricity, no such program exists for water, Beecher said.
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