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Author Archives: Lawrence Segbefia

GRA consulted stakeholders in implementing 3% VAT flat rate

Emmanuel Kofi Nti - Commissioner General, GRA

The Ghana Revenue Authority(GRA) has refuted allegations that it did not consult key stakeholders before the implementation of the 3 percent VAT flat rate. Some associations including the Exporters and Importers Association, as well as the Food and Beverages Association have expressed dissatisfaction at implementation of the 3 percent VAT scheme. The associations have also accused the Ministry of Finance ...

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Fidelity bank shows interest in govt’s NEIP

Fidelity Bank MD, Jim Baiden

Some financial institutions in the country have expressed their readiness to assist government in the disbursement of the ten million dollars provided as seed capital for the National Entrepreneurship and Innovation Plan (NEIP) to support entrepreneurs. The fund, which was launched last week by President Akufo-Addo with a seed capital of ten million dollars is aimed at supporting young entrepreneurs ...

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Wapic Insurance Ghana holds Transport Seminar for  Stakeholders


As part of its unfolding initiatives to transform the insurance landscape in Sub-Saharan Africa, Wapic Insurance (Ghana) Limited hosted a Transport Seminar  on road safety, engaging major players in this sector in discussions on how to curb the menace of road incidents in the country. Themed, “Road Safety – A Shared Responsibility of Players in the Transport Industry,” the strategic ...

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Associations against 3% Vat flat rate showing bad faith—Commissioner General

Participants at the launch of an Electronic Health Management Information Systems(the Commissioner General of the Ghana Revenue Authority, Kofi Nti [m] )

The Commissioner General of the Ghana Revenue Authority, Kofi  Nti has lashed out at associations that are against the implementation of the 3 percent VAT Flat rate, describing them as showing bad faith. The Exporters and Importers Association and the Food and Beverages Association are among the groups against the implementation of the 3 percent VAT Flat Rate. The flat ...

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Conflicting plans forcing govt not to extend IMF programme

Finance Minister, Ken Ofori Atta with Chief of the IMF Mission on the Article IV consultations, Analisa Fedelino

Economist, Dr. Eric Osei-Assibey is of the view that government’s decision not to extend the IMF External Credit Facility programme may be due to conflicting plans with the conditionalities of the fund. President Akufo Addo yesterday announced that government will not extend the programme, when the duration is met next year, contrary to earlier assertions that  government may extend it ...

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Debt stock to reduce slightly by end of year- Dr. Bawumia


Vice President, Dr. Mahamudu Bawumia has stated that Ghana’s debt stock is declining contrary to assertions that it is going up due to the issue of bonds. The government since it took over has issued bonds to the tune of about 40 billion cedis in the first six months. But presenting the figures during the maiden edition of a Media ...

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Nana Addo must address 3% VAT Flat rate today–Importers

President Nana Akufo Addo

As the Nana Addo prepares to address journalists today, Importers and Exporters want the President to address all concerns on the 3% VAT Flat rate The meeting which is the maiden since President Akufo Addo assumed office will be held later today. The businesses who have commended the NPP government’s tax cut policies so far however say they are dissatisfied ...

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Govt starts infrastructure devt for Gas Master Plan


The Ministry of Energy has announced that government is developing the infrastructure to enable reverse gas flow from Takoradi in the Western region to Tema in the Greater Accra region. The project, which is part of the Gas Master Plan is expected to supply adequate gas to generate electricity in the Tema power Enclave. The enclave which is a hub ...

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President nominates Dr. Agnes Adu as MD of GTFC

Agnes Adu

Citi Business News can confirm that President Nana Addo has nominated Dr. Agnes Adu, to act as Managing Director of the Ghana Trade Fair Company (GTFC) Limited, pending the appointment of a substantive Managing Director by the Board of Directors. A letter signed by the Finance Minister, Ken Ofori-Atta on behalf of the president directed management of the company to ...

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Economist calls for further reduction in policy rate

Dr. Eric Osei-Assibey

As the Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) prepares to meet, some financial observers have maintained that it will be prudent for the central bank to reduce the policy rate for the third consecutive time. The BoG reduced the Policy Rate from 23.5 percent to 22.5 percent in the last meeting led by governor, Dr. Ernest ...

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