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Author Archives: Pius Amihere Blay

Govt to implement land banks to tackle housing deficit


The Ghana Real Estate Developers’ Association (GREDA) wants government to strictly abide by its promise to implement the proposed land bank policy to address the rising housing deficit by the end of the year. The program has become necessary as the issue of land acquisition has been cited as one of the basic issues contributing to Ghana’s housing crisis. Under ...

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Electricity tariffs to drop below govt’s proposed 14%


Citi Business News is learning that government’s proposed reduction in electricity tariffs for consumers may not yield much as expected as the Public Utility Regulatory Commission (PURC), finalizes its tariff adjustment for this year. Government in the 2018 budget suggested that it is working to reduce tariffs by some 14 percent on the average, for industrial and residential users. But ...

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Businesses yield to enforcement of excise tax stamp

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Business operators have expressed their readiness to comply with the three day ultimatum set by the Ghana Revenue Authority (GRA) to fix the excise tax stamp on their products by Monday, March 5, 2018. This comes contrary to earlier resistance to the implementation of the policy. The comments also follows GRA’s monitoring of the compliance levels with the excise tax ...

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IMF assesses Ghana ahead of $236m disbursement


The International Monetary Fund (IMF) is expected to disburse at least two hundred and thirty-six million dollars ($236,000,000) of the Fund’s extended credit support to Ghana. The cash is expected to hit the government of Ghana’s accounts within the next few months. This is however subject to Ghana’s ability to meet key targets set under the agreement with the Fund. ...

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GRA gives tax stamp defaulters 3 day ultimatum

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The Ghana Revenue Authority (GRA) has given manufacturers and importers of excisable goods a three day ultimatum to fix the tax stamps on their products or have their goods seized. The decision comes on the back of a monitoring exercise on the compliance of the tax stamp policy beginning today, 1st March 2018. The tax stamp has been met with ...

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Barclays Africa to rebrand to Absa Group

Maria Ramos - CEO, Barclays Africa Group

Barclays Africa Group is to rebrand to Absa Group by 2020, subject to regulatory approval in all ten countries that it operates in. This follows the successful sale of Barclays PLC’s stake in the bank’s Africa’s operations. Barclays PLC has since December 2017, reduced its stake in the Africa Operations from 62 to 15 percent. Addressing a telephone conference on ...

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Petroleum prices to drop by 3% in March


Prices of petroleum products are expected to drop by about 3 percent for the first pricing window in March. The pricing window spans Thursday, March 1, 2018 to Thursday, March 15, 2018. According to the Institute of Energy Security (IES), the drop can be attributed to the reduction of crude oil prices on the international market as well as the ...

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Farmers lament losses over poor seeds supply

Chairman of the National Farmers and Fishermen award winners Association, David Korboe

Some farmers who benefited from the supply of seeds under the Planting for Food and Jobs program, have begun counting their losses as it is emerging that they were supplied with grains rather than seeds for cultivation. The situation the farmers say has left them desperate as they are unable to meet targets and sustain their operations. This came up ...

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Robbery attacks: GhIPSS urges cashless transactions

Archie Hesse - CEO of GhIPSS

The Ghana Interbank Payment and Settlement Systems (GhIPSS), is urging the public to resort to more electronic forms of payment in order to reduce their exposure to armed robbery and related risks. The advice follows reports of two separate armed robbery attacks in two successive days and other instances, in which huge sums of cash were believed to have been ...

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Standards Authority clamps down on substandard electrical gadgets                         

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The Ghana Standards Authority has served notice it will confiscate all substandard electrical gadgets and equipment. The authority has also warned it will pursue and sanction appropriately, persons who deliberately engage in the dumping of such products onto the Ghanaian market. The caution forms part of moves to develop and enforce standardization on the Ghanaian market. “Where the law permits ...

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