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GRA to impound uncustomed vehicles

Emmanuel Kofi Nti - Commissioner General, GRA

The Ministry of Finance has set up a Special Surveillance and Monitoring Unit in collaboration with the Ghana Revenue Authority(GRA) to impound uncustomed vehicles. According to the Ministry, the move is aimed to blocking revenue leakages from unregistered vehicles that have entered the country through unapproved routes. Speaking at Press Conference, the Commissioner General at the Ghana Revenue Authority, Emmanuel ...

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SEC to increase capital requirement of market operators

Daniel Ogbarmey Tetteh

The Securities and Exchange Commission (SEC) will soon announce a new capital requirement for market operators. The move follows recent announcement by the Bank of Ghana which also increased its capital requirement from 120 million cedis to 400 million cedis for banks in the country. Speaking to Citi Business News, the Director General of the SEC, Rev. Daniel Ogbamey Tetteh ...

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Importers shun refund on 25% VAT–GRA


The Ghana Revenue Authority (GRA) has bemoaned the low participation of exporters and importers in retrieving their VAT refund. Speaking on the issue, Revenue Officer, with the Ghana Revenue Authority, Akwesi Osei Nkrumah appealed to importers and exporters’ t0 retrieve their funds. “When you are exporting, the law empowers you to come back to us and take that VAT back, ...

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Average interest offered by banks drops marginally

bank-of-ghana pic

The average interest offered by banks on customer deposits dropped marginally to 10.8 percent in August from the 10.9 percent it recorded in July this year. According to the latest Annual Percentage Rates (APR) and Average Interest (AI) report by the Bank of Ghana(BoG). First Atlantic Bank took over from Stanbic Bank as the bank that offers the highest interest ...

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173 factories set for 1-district,1-factory roll-out – Ahomka Lindsay

Robert Ahomka-Lindsay

At least 173 factories are ready to be rolled out as part of the government’s flagship One-district One-factory initiative, Deputy Trade and Industry Minister, Robert Ahomka Lindsay has revealed. According to him, all the 173 projects will be carried out by private businesses with support from the government. Speaking on the Citi Breakfast Show on Thursday, Mr. Ahomka Lindsay said about 600 applications ...

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MTN must fight Mobile Money fraud—Vendors                       


Some mobile money vendors have charged telecom giant, MTN to work at reducing mobile money fraud on the company’s network. Some victims of mobile money fraud called into the station after Citi FM’s Business Today programme discussed the growing cases of mobile money fraud. According to statistics at least fifty percent of Mobile Money subscribers have either experienced one form ...

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Tips to avoid Mobile Money fraud

money fraud

Mobile money fraud has in recent times heightened with unsuspecting individuals been swindled by fraudsters. Statistics show that at least 50 percent of Mobile Money subscribers have either experienced one form of fraud or have been a target from Mobile Money fraudsters. Here are some few tips to help avert Mobile Money fraud. Never disclose your secret pin to anybody, ...

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Mobile Money Fraud: telcos to face the law for selling registered SIM

MM fraud

The Criminal Investigations Department (CID) of the Ghana Police Service has warned that telecom operators will be prosecuted if they fail to stop the sale of pre- registered SIM cards on the markets. According to the CID, the sale of pre- registered SIM cards contribute to mobile money fraud in the country. Mobile money fraud continues to gain momentum with ...

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Trade Ministry to tackle pirated textiles with Task Force     

textile task

Following agitations from the Local textiles Workers Association over the takeover of their businesses due to pirated goods, the Trade Ministry has set up a Task Force which will be inaugurated on the 11th of October 2017. The Ministry took the action after constant pleas from the textile industry over the near collapse of their industry. Among others, the task force ...

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2018 budget to address decline in Agric sector


Vice President, Dr. Mahamudu Bawumia has bemoaned the declining contribution of the Agricultural sector towards the country’s Gross Domestic Product (GDP). The sector in the year 2009 was the biggest contributor to the county’s GDP but it has however declined in the subsequent years. In 2009 it stood at 29.8% but was measured to be 18.9% as at the end ...

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Ghana Business News