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GRA educates small taxpayers to improve revenue mobilisation

GRA

The Ghana Revenue Authority (GRA) has commenced processes to educate informal sector businesses on data keeping to increase their tax compliance. It follows what the GRA believes is the low tax compliance due to the lack of information. The exercise is being conducted by the Debt Management, Compliance and Enforcement Team of the GRA. The exercise will also be replicated ...

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Govt to redirect NIB’s mandate to support industries

Trade and Industry Minister with the Board of the NBSSI

Government has announced plans to refocus the operations of the National Investment Bank (NIB) to offer financial assistance to small and medium scale businesses. Trade and Industry Minister, Alan Kyerematen explains this should also grow the businesses to boost Ghana’s industry and increase economic growth. The NIB, which is now considered as a universal bank, in the Minister’s view, has ...

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Resist pressure for illegal siting of fuel stations – Prof. Frimpong Boateng

Prof Frimpong Boateng - Minister of Env't, Science, Tech & Innovation

The Minister of Environment, Science, Technology and Innovation (MESTI), Professor Kwabena Frimpong Boateng, has advised the Environmental Protection Agency (EPA) and the National Petroleum Authority (NPA) to resist persuasion and pressure from influential people in society to site fuel stations at wrong places. Fuel and gas stations have claimed lives of hundreds of Ghanaians across the country. A situation, many ...

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Capital, UT banks’ collapse: BoG unblocks accounts of key managers

ut capital

The Bank of Ghana has begun unblocking accounts of key managers of UT Bank and Capital Bank following investigations into the activities of the two banks leading to their collapse. This is contrary to media reports that the central bank has frozen the accounts of top managers and Directors of the two banks as it looks into their operations. The ...

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Freight forwarders agitate over ‘drawbacks’ in paperless systems

President of the Freight Forwarders Association of Ghana, Kwabena Ofosu Appiah

Freight forwarders at the Tema Port have protested against the undue delays at the port in the wake of the pilot of the paperless transaction at the port. According to them, the paperless regime which is expected to be officially rolled out in September would jeopardize their work if nothing is done to correct the problems and delays with some ...

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Tullow Ghana hopeful of 2017 despite losses in H1

Managing Director of Tullow Ghana, Charles Darku

Tullow Oil has ruled out any significant impact of the mid-year loss after tax on its Ghana operations. The oil company maintains that its strategy will keep it above the challenges by the end of the year. Tullow in its first half results posted a loss after tax of about 300 million dollars. Consequently, the oil giant recorded a loss ...

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Pilot of paperless port systems kicks off today

GUTA PORT

Effective Friday, August 18th 2017, all agencies at the country’s ports will pilot the paperless clearing process ahead of official takeoff next month. The exercise is among others to identify the potential shortfalls and address them for a seamless transaction on September 1, 2017. According to officials, the pilot has become apparent considering the completion of the basic background work. ...

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What to know about Capital Bank’s collapse (Audio)

capital-bank-620x330

Capital bank, an indigenous bank that transformed from a Savings and Loans Company has been assumed over by GCB Bank in a purchase and assumption agreement. It is emerging that the writings were clear on the wall a couple of years before this. What probably went wrong leading to this situation? The audio below gives some possible explanations. – By: Pius ...

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What to know about UT Bank’s collapse (Audio)

UT bank

The Bank of Ghana on Monday, August 14, 2017 granted permission to GCB Bank to purchase UT Bank in a purchase and assumption agreement. The Central bank explained that the move has become apparent due to efforts to consolidate the country’s financial sector. But what reasons led to the collapse of the indigenous bank? The audio below chronicles the event ...

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High fiscal deficit unattractive for long term bonds – Razia Khan

Razia Khan new

Government would have to work to reduce its fiscal deficit in the short to medium term else risk investment ditching its long term bonds. This is the caution from the Chief Economist for Africa Global Research at Standard Chartered Bank, Razia Khan. According to her, the government would need to readjust its debt management strategy at the point where it ...

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