- The Suez Canal, located at Egypt, has realized a revenue of $458.2 million in February 2020
- This represents a drop in its revenue of $497.1 million realized in January 2020
- The canal, built from from 1859 to 1869, serves as the fastest means of shipping goods between Europe and Asia
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The Suez Canal, located in Egypt, has generated $458.2 million in February 2020, YEN.com.gh has learned.
This is an increase from the $433.9 million recorded in the same month of the year 2020, a report by Reuters shows.
In January 2020, revenue from the canal stood at $497.1 million, showing a drop in a month of $38.9 million.
The canal serves as the fastest means of shipping goods between Europe and Asia and it represents one of Egypt’s important sources of foreign currency.
The Suez Canal is a man-made sea-level waterway that links the Mediterranean Sea to the Red Sea through the Isthmus of Suez.
More often than not, it is described as the demarcation used to distinguish between Africa and Asia.
The canal was built by the Suez Canal Company from 1859 to 1869 and was officially opened on November 17, 1869.
In other news, some customers of defunct microfinance and savings and loans companies have raised concerns about the mode of payment by the receiver, Eric Nana Nipah, via the Consolidated Bank of Ghana (CBG).
Cases of miscommunication and surprises were recorded when some customers, who had received text messages to visit the bank on Thursday, February 27, 2020, were informed that their monies would be paid in bonds.
The customers indicated that they were informed those who had funds beyond GHC70,000 locked up would receive GHC50,000 in cash and the rest in 5-year-bonds.
A retired soldier, whose identity is yet to be confirmed, stated that GHC50,000 out of his GHC602,000 would be invested as a bond.
Per a citinewsroom.com report, the unnamed soldier was given no documentation to that effect, leaving him confused.
His desire to know the interest rate was futile as there was no response in that regard aside the fact that there was no written agreement to that effect.
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