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Industry intensifies pressure to get 15% petroleum tax scrapped

Fuel pump nozzles are pictured at Helios petrol station in Almaty

Analysts have intensified appeals for government to scrap the Special Petroleum Tax on petroleum products. They argue this will give more meaning to attempts to reduce the plight of consumers following rising global oil prices. The comments follow a recent NPA announcement of a seventy percent reduction in the price recovery and stabilization levy calculated on petroleum prices. The price ...

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IMF approves Ghana’s Public Sector Reforms

Joe Tackie  - Acting Chief Director of the Ministry of Business Development

The International Monetary Fund (IMF) has approved the Public Sector Reforms for Ghana to be implemented in 2018. The reforms are part of efforts to reduce the bureaucracies in Ghana’s public sector and improve efficiency. The Fund has been critical of Ghana’s rising public expenditure which it contends has partly contributed to some economic challenges in terms of rising public ...

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MTN is 2nd best company in Ghana Club 100

MTN building at Ridge, Accra

MTN has been named as the second best company in Ghana for this year’s Ghana Club 100. The telecom company assumed the position after a vigorous exercise which ranked the various organizations that entered the competition based on some selected criteria. In addition to being adjudged the second best company for this year, MTN also picked the best company in ...

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Removing taxes on lotto wins to increase revenue—NLA Boss

Osei Ameyaw

The Director-General of the National Lottery Authority (NLA), Osei Ameyaw is optimistic the decision by government to grant tax waivers for lottery winners will attract more people to participate in the authority’s gaming activities. The Finance Minister, Ken Ofori-Atta during the 2018 budget presentation announced that government has scrapped the 7.5 percent tax on the money of lottery winners, subject ...

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New MD of Guinness Ghana engages journalists

Gavin Pike

Gavin Pike, Managing Director of Guinness Ghana Breweries Limited (GGBL) has engaged senior journalists and news editors at a breakfast meeting in Accra to familiarize himself with the media in Ghana as he settles into his work as the new Managing Director of GGBL. Also at the meeting were newly appointed directors of GGBL, Leticia Teiko Insaidoo – Customer Marketing ...

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Ghana’s local fish supply to increase by 100,000 tonnes


Government is seeking to increase the local fish supply by 100,000 metric tonnes by 2018. This is in line with the objective of reducing the country’s overdependence on imported fish. The Minister of Fisheries and Aquaculture, Elizabeth Afoley Quaye, who disclosed this also maintained that the effort will correct the balance of trade deficit that Ghana has been experiencing for ...

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Fuel prices remain unchanged at pumps


The prices of petroleum products will remain unchanged at the pumps at least for the first two weeks in December, despite a reduction in the price stabilization and recovery levy. As a result, the Chamber of Petroleum Consumers (COPEC) is urging consumers to disregard reports of reduction in fuel prices due to the development. The NPA has directed all Oil ...

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33rd National Farmers’ Day event held in Kumasi


Ghana marked the 33rd edition of the National Farmers’ Day event aimed at rewarding farmers who have been outstanding in their respective areas. About 90 farmers were honoured for their immense contribution towards the development of the agricultural sector at the national event being held in the Ashanti Regional capital, Kumasi. Hundreds of farmers and dignitaries were seated for the ...

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Barclays announces final sale of stake in Africa


Barclays has announced it will on Tuesday, December 5, sell a 7 percent stake in its Johannesburg-based Barclays Africa Group. The bank announced this latest decision on Friday, December 1, 2017. Some analysts believe the move could likely be the last in a series of such sales as Barclays ends more than 90 years as a major presence on the ...

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Newmont tops Ghana Club 100 rankings

General Manager for Newmont Golden Ridge Limited, Joep Coenen

Newmont Golden Ridge Limited has been crowned as the number one company at this year’s edition of the Ghana Club 100 awards. The company beat off competition from over ninety other companies to assume the coveted position. This is the second time the mining company has assumed the coveted position. Aside winning the topmost award on the night, Newmont also ...

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Ghana Business News