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Government

We’re not sabotaging Spio Garbrah – MP

Ahmed Ibrahim, MP for Banda

Member of Parliament for Banda in the Brong Ahafo Region, Ahmed Ibrahim, says it would be wrong for anyone to think that parliamentarians opposed to the ban placed on the exportation of cashew nuts from the country, are only seeking to sabotage the Trade Minister, Dr. Ekow Spio Garbrah. The Ministry placed the ban on cashew exports in a bid to ...

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Trade Ministry withdraws ban on cashew exportation

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The Ministry of Trade has withdrawn the ban on exportation of raw cashew nuts in the country. This follows the massive public outcry that met the earlier directive. Members of Parliament on Thursday criticized the sector Minister, Dr. Ekow Spio-Garbrah, for issuing the directive and threatened to trigger the necessary legislative instruments to have it withdrawn if the ministry fails to do ...

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Canada to help Ghana establish Exim Bank

Eddie

Finance Minister Seth Tekper says Canada is willing to help Ghana establish an export-import bank, commonly known as an EXIM bank that will help facilitate trade between Ghana and other developed countries. Ghana has been relying on Canada and other developed nations for more than three decades for foreign aid. Speaking in an interview in Canada, Mr. Terkper stressed that ...

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‘Use qualified accountants to check waste in assemblies’-ICAG

The President of the Institute of Chartered Accountants-Ghana (ICAG), Professor K.B Omane-Antwi

As public outcry rages on the waste of funds captured in the 2014 Auditor Generals’ Report, government has been advised to employ the services of qualified accountants from recognized institutions to help curb misappropriation of funds recorded by Metropolitan, Municipal, and District Assemblies (MMDAs) across the country. In the 2014 Auditor Generals’ Report, most account officers in MMDAs could not ...

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Review ban on cashew exports : Exporters to government

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Cashew exporters want government to as a matter of urgency review the ban on the exportation of cashew. The trade ministry yesterday issued a directive that effective the 31st of May will ban the exportation of raw cashew nuts. According to the ministry, it will confiscate any raw cashew brought into the port for export. A directive issued by the ...

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Digital migration: Test transmission set for end of March

The Deputy Minister of Communication, Edward Ato Sarpong

Citi Business News has gathered that government is to begin a test transmission of the Digital Terrestrial Television (DTT) network project by the close of the month. This comes after the completion of the first phase of the digital migration project in the Greater Accra and Ashanti Regions. The Ministry of Communications in October last year, signed a contract with K-Net ...

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Anglogold completes move to handover 60% of  mine to govt

AngloGold AshantiL ogo

AngloGold Ashanti Ghana Limited has successfully completed the process of surrendering some 60% of the Obuasi mine concession to government. According to AngloGold Ashanti it handed over the area as part of a voluntary process which commenced in November 2013. The area in question, Citi Business News understands covers about 273 square kilometers and excludes the Obuasi mine proper, which ...

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February 2016 inflation drops to 18.5 %

Dr. Philomena Nyarko is Government Statistician

Inflation for the second month of the year has decreased by 0.5 percent. Inflation for the February 2016 hit 18.5 percent compared with the 19.0 percent recorded in January 2016. The monthly change rate in February 2016 was 0.7 percent while that of January 2016 was 4.6 percent. The Ghana Statistical Service cites non-food inflation (decrease in utility, transport and ...

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More layoffs to hit economy in 2016 – Employers Association

unemployment

The Ghana Employers’ Association (GEA) has warned there will more layoffs this year following current economic developments in the country. According to the association, the unpredictable and unstable nature of the microeconomic environment, counterfeiting and illicit trade remains a big challenge to employers. Cost of borrowing has gone up to above 35 percent as current inflation is above 17%. President ...

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Tax stamp duty: Businesses to meet government over possible suspension

Closed offices at the Freight forward section at the Tema Port

Some importers have told Citi Business News they are contemplating whether or not to attend a meeting involving government officials over their concerns on the excise tax stamp duty which took effect yesterday. The planned meeting is scheduled for Thursday, March 10, and it will involve officials from the Finance Ministry, the customs division of the Ghana Revenue Authority, importers and freight ...

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Ghana Business News