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Author Archives: Pius Amihere Blay

Gov’t misses 2018 half year revenue target  

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Finance Minister, Ken Ofori-Atta has disclosed that government missed its revenue target by 1.4 billion cedis for the first five months of the year. According to Mr. Ofori-Atta, the development has called for a revision to the fiscal framework and outlook to achieve the government’s fiscal objectives and targets. According to the finance minister, government had planned to raise 18.8 ...

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Gov’t imposes new tax on luxury vehicles  

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Government is set to introduce a new levy on luxury vehicles with engine capacities of 3.0 litres and above. This imposition of the new  levy will be known as a luxury vehicle tax. The levy, according to government will be paid on first registration and subsequently annually during renewal. This was made known by the Finance Minister Ken Ofori Atta ...

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Afb increases bond to GHS 300m

afb

To support the inclusive finance entity’s ongoing expansion strategy, Afb Ghana has increased its bond issue by two thirds, to total GH¢300 million. Afb’s bonds have managed to secure a solid rating for the last year thanks to Afb’s solid track record and positive business potential for the medium term. Global Credit Rating attributes the positive rating track record to ...

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Mixed reactions meet taxes on luxury vehicles (Audio)

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Car owners and importers of vehicles in the country are divided on the possible introduction of a customs tax on luxury vehicles. The Minority in Parliament earlier this week launched a scathing attack on the Akufo Addo administration describing it as an insensitive government, for planning to introduce new taxes and increase existing ones, including a 10 percent tax on ...

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PURC maintains utility tariffs for 3rd quarter

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The Public Utility Regulatory Commission (PURC) has maintained the electricity and water tariffs for the third quarter of this year [2018]. This means that between July and September this year, consumers will pay the same tariffs for electricity and water they purchase. A statement from the PURC to Citi Business News said it decided not to adjust electricity tariffs despite ...

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Kosmos wins $14m in court case against Tullow

kosmos energy

A panel of arbitrators, working under the jurisdiction of the International Chamber of Commerce, has ruled in favour of Kosmos Energy Ghana in relation to its dispute with Tullow Ghana Limited over the West Leo Rig. This was announced in a statement released by Tullow Oil. In this regard, Tullow Oil is to reimburse Kosmos Energy, some 14 million dollars ...

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We’ll not tolerate delays in evicting foreigners from retail market

Traders-in-Ghana

The Ghana Union of Traders Association (GUTA) has warned that it will not tolerate delays from government in evicting foreigners from Ghana’s retail market. The warning follows a recent announcement by the Ministry of Trade and Industry to evict all foreign retailers from the local retail centers by the 27th of this month. Ghanaian traders have on numerous occasions lamented ...

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BoG committee assesses Ghana’s economy from today

bog microfinance

The Monetary Policy Committee (MPC) of the Bank of Ghana will today (Wednesday) start its quarterly meetings to review the health of the economy. The committee will also assess the impact of major economic policies introduced by the central bank to stabilize the economy. On top of the agenda are likely to be the depreciation of the cedi, the marginal ...

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Business  associations call for suspension of Cargo Tracking Note

GUTA PORT

Business associations in the country have called for the immediate suspension of the Cargo Tracking Note (CTN) system. The system, which took effect on the 1st of July was introduced by government to track all imports to Ghana to reduce revenue losses associated with under declaration of goods at the ports. The business associations however say the system was implemented ...

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No trading in adb shares for three days

Managing Director of the Ghana Stock Exchange, Kofi Yamoah

From today, July 17, 2018, investment brokers and other parties interested in the trading of shares of ADB, cannot engage in the service. It follows the suspension of trading activities of ADB by the managers of the Ghana Stock Exchange for three days. The Managing Director of the Ghana Stock Exchange, Kofi Yamoah disclosed this decision to Citi Business News ...

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