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Tag Archives: Ghana Business News

High cost of production threatens housing sector – GREDA

Sammy Amegayibor - Executive Secretary,GREDA

The Ghana Real Estate Developers Association (GREDA) has stated that the industry is facing huge crises due to its unproductive nature. The Association has attributed this to the low patronage as a result of the high costs of properties. According to GREDA, though its members are expected to produce about 70, 000 houses, they only provide a little over a ...

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ADB to save GH¢24m annually from acquiring head office

Daniel Asiedu-  MD of ADB

The Agricultural Development Bank (ADB) has disclosed that its plan to secure where it is currently headquartered, will ultimately save the bank about 24 million cedis annually. ADB’s earlier decision to pay an annual rent of 5 million dollars at its current headquarters in 2015, generated a lot of controversy between the staff and the management. The bank is currently ...

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Producer Price Inflation drops to 4.8% in April 2017

Mr. Baah Wadieh, Acting Government Statistician

Ghana’s producer price inflation for April this year recorded 4.8 percent. This is down from the 6 percent recorded in March this year. This means that the cost of production for industries has seen some stability during the period. The difference between the producer price inflation between March and April this year was negative 1.3 percent. The Acting Government Statistician, ...

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Employers’ Association proposes extension of maternity leave by 2 weeks

Alex Frempong -
 President, Ghana Employers Association

The Ghana Employers’ Association has proposed an extension of the country’s maternity leave from the current 12 weeks to 14 weeks. The call follows moves from various stake holders to have the leave period extended to enable women undertake exclusive breastfeeding as well as recover before resuming work. Speaking to Citi Business News on the matter, the CEO of the ...

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RGD to restrict TIN registration from June

Registrar General Dept

The Registrar General’s Department (RGD) has served notice it will from next month restrict the generation of Tax Identification Numbers (TIN) at its head office in Accra. This the Department says is aimed at reducing both human and vehicular congestion at its premises in Accra. The move is also targeted at achieving the President’s commitment to make Ghana the most ...

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Govt to slash corporate taxes to 20% in 2018 – Alan Kyerematen

Alan Kyerematen - Trade and Industry Minister

Private sector businesses should from next year begin paying less in corporate taxes. It comes on the back of the proposed 5 percent drop in corporate tax from the current 25 percent. The slash in corporate taxes was among the numerous tax incentives promised by the NPP government ahead of the 2016 elections. The move was however missing from the ...

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We will save Ghana money with interoperability – GhIPSS

Archie Hesse - CEO of GhIPSS

The Ghana Interbank Payment and Settlement Systems (GhIPSS), has given indication that it will cost the country relatively cheaper with the provision of mobile money interoperability. According to GhIPSS, its mandate to provide the platform should save the country huge sums of money. The CEO of GhIPSS, Archie Hesse made the remarks when he addressed some journalists to mark the ...

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Finance Ministry gives ‘ghost’ workers’ new deadline

Ken Ofori Atta - Finance Minister

The Ministry of Finance has extended the deadline for the payment of April salaries of some public sector workers who failed to enroll onto the SSNIT biometric system. The workers have up till the 15th of June 2017 to re-register to get their salaries paid. A statement from the Finance Ministry and copied to Citi Business News indicated that about ...

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Embassies oppose appeals for refund of bounced visa fees

Diplomatic Missions

It appears calls for refund for bounced visas by Embassies operating in Ghana may not be heeded anytime soon as some Embassies have already squashed the possibility of refunds. The Consumer Protection Agency (CPA) has renewed pressure for the embassies to review their visa policies. It describes the development as an infringement on the rights of individuals. The Chief Executive ...

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17,000 ‘ghost’ workers yet to be paid April salaries – Finance Ministry

Ken Ofori-Atta - Finance Minister

At least 17,000 public sector workers are yet to receive their April 2017 salaries for non-biometric SSNIT registration. A statement from the Finance Ministry and copied to Citi Business News said about 9,300 out of the over 26,000 affected workers have been paid after successful validation. According to the Finance Ministry, the payments amounted to 11.3 million cedis. 3,000 of ...

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Ghana Business News