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Author Archives: Lawrence Segbefia

Provide details of renegotiation of Power Compact II- PUWU to govt


The Public Utility Workers Union (PUWU) has urged government to carry out its planned renegotiation of the Power Compact II with the Millennium Challenge Corporation (MCC), and also provide details of the review. Under the Power Compact II, government is expected to allow Private Sector Participation in the Electricity Company of Ghana (ECG) for the country to benefit from a ...

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Attacking Templeton unhealthy, could cost Ghana- Alhassan Andani

Alhassan Andani

The Managing Director of Stanbic Bank, and President of the Ghana Bankers Association, Alhassan Andani has lashed out at critics of the 2.25 billion dollar bond issued by government some weeks back. The Minority group in parliament, led by a former Deputy Finance Minister, Mr. Cassiel Ato Forson alleged that the issuance was done in secrecy, denying other investors an ...

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BoG cancels auctioning of dollars to banks


The Bank of Ghana(BoG) has cancelled the auctioning of dollars to banks in the country. The central bank in January this year announced plans to release $120 million onto the market for the first quarter of this year as part of its plan to help stabilize the cedi. The auction which was restricted to licensed foreign exchange dealing banks was ...

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Govt seeking ECG workers interest in Power Compact II- Bawumia

Dr. M. Bawumia

The Vice President, Dr. Mahamudu Bawumia has assured that government will  secure the welfare of Ghanaians under the Millennium Challenge Corporation(MCC) Power Compact II. Under the Power Compact II, government is expected to allow Private Sector Participation in the Electricity Company of Ghana (ECG) for the country to benefit from a cash injection of about 498 million dollars. Speaking to ...

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Remittances to Developing Countries drop for second consecutive year-Report


Remittances to developing countries fell for a second consecutive year in 2016, a trend not seen in three decades, says the latest edition of the Migration and Development Brief, released today during the World Bank’s Spring Meetings. The Bank estimates that officially recorded remittances to developing countries amounted to $429 billion in 2016, a decline of 2.4 percent over $440 ...

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Govt commences Non-Deal Roadshow


A team of senior government officials have embarked on a trip to London Washington DC and New York for a Non-Deal Roadshow. The purpose of the Non-Deal Roadshow is to meet with Ghana’s bond holders, potential investors, US government officials and other key stakeholders to share the government’s transformational economic agenda to address the country’s debt, attract new investment and ...

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Banks begin to abide by GRA directive on VAT

VAT on Fin Services

Some banks in the country have begun complying with the directive from the Ghana Revenue Authority (GRA), ordering them to stop charging VAT on financial services. The banks have started sending messages to their customers,  notifying them of removing the 17.5 percent VAT charges on financial services. This follows an order from the GRA, directing all financial institutions to discontinue ...

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Govt sets up Solutions Service Unit to clamp down tax evaders

Ken Ofori Atta - Finance Minister

The Ministry of Finance has announced the establishment of a Solutions Service Unit at the ministry to give the general public an opportunity to offer information that could lead to the retrieval of revenues from tax evaders. The Unit is to provide an additional channel for taxpayers to report their complaints and receive timely feedback and fair treatment. Speaking to Citi ...

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Trade Ministry urges exporters to improve packaging of products


The Ministry of Trade and Industry has announced measures to set up a policy that will improve the packaging of locally produced food items. According to the ministry, the initiative will aid the implementation of the Planting for Food and Jobs policy as well as the One-District One-Factory project to preserve and package food for local consumption and export. Speaking ...

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6th Africa HR Conference Opens in Accra

Michael Quarshie, MD, Persol addressing delegates at the opening

The sixth Africa HR Leaders conference under the theme, “Adding Value through Talent Management, Succession Planning and Predictive HR Analytics has opened in Accra. Organised by OML Africa, this important event attracted over 100 HR Heads and Directors from across the private, public and not-for-profit sectors who will be addressed by more than thirty experts in the field. It is ...

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