Business News of Wednesday, 29 January 2020Source: www.ghanaweb.comHow $5m losses resulted in imminent shutdown of Neoplan - Reportplay videoNeoplan Ghana LimitedNeoplan Ghana Limited’s imminent shutdown expected to take place on Friday, January 31 is caused by a US$5 million loss in revenue and lack of efficient production activities. In 2016, the company approached the government to help settle a debt of US$173,000 to gain an additional 20 percent shares in the company. However, it was said government did not release the shares to the company and that has resulted to its current predicament. When GhanaWeb visited the premises of the Achimota service station of Neoplan Ghana Limited on January 28, some few workers present reiterated their frustrations and concerns about the imminent closure of the company and described it as unfortunate. The memo dated on January 15, 2020 and signed by the Managing Director of the company, Mr Georges Nassar titled; “Closure of Neoplan (Ghana) Limited”: “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.

Source: GhanaWeb January 29, 2020 07:30 UTC