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    We want Ghanaians to own 30% of MTN Ghana shares by end of 2022 – GROUP CEO

    Ghana’s 2022 economic outlook to remain positive; GDP projected to grow by 5.3% – AfDB report

    African governments tasked to look within the continent in their bid for transformation

    COCOBOD closes purchases for 2021/2022 main crop cocoa season

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

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    6th Ghana CEO Summit to focus on digital leadership for the digital economy

    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

    Taxing of non-resident e-commerce entities in Ghana could push prices up – Technology Consultant

    BoG cautions against fraudulent money-doubling scheme ‘BitCash Currency Exchange’

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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Ghana drops in latest ease in doing business rankings

bycitibusinessnews
November 4, 2015
in Business, Local Economy, Top Stories
Share on FacebookShare on TwitterShare on Whatsapp

Ghana’s performance declined in the latest ease in doing business rankings by the World Bank.

[contextly_sidebar id=”MLCH3k5xb8LN3DvDE8eSMgme5OQptLHO”]Ghana was among 189 economies surveyed in the study.

The country’s overall performance dipped by two points from 112 to 114.

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Aside recording an improvement in dealing with construction permits and trading across borders, Ghana recorded negative growth in eight out of 10 areas identified by the study between 2015 and 2016.

The highest of the poor performances was in getting credit which showed a negative growth of 6.

This was followed by starting a business and paying taxes which recorded negative 5 and 4 respectively.

Getting electricity, Registering Property and Protecting Minority Investors all recorded a negative growth of 2.

The country however scored a negative growth of 1 in enforcing contracts and resolving Insolvency.

Starting a business

Ghana’s performance on starting a business according to the report was unsatisfactory as it recorded negative growth of 5.

The country’s position also dropped from 97 in 2015 to 102 in 2016.

The drop was primarily influenced by applying for business licenses at the Metropolitan Authority which required 7 days and came at a cost of GH¢270.

Obtaining a certificate from the Registrar-General’s department required 2 days in addition to the payment of 0.5% of the stated capital as commencement tax plus GH¢ 10 as registration fee with the GRA.

Also, acquiring a tax identification number required an average of two days but at no cost to businesses. Other registration procedures such as authentication from the commissioner of oaths took one day at a cost between GH¢5 and 10.

Meanwhile checking for availability of company name and submitting company documents, depositing paid-in capital in an account, inspection of work premises by the Metropolitan Authority as well as applying for social security all took an average of one day but at no cost to the business owner.

–

By: Pius Amihere Eduku/citifmonline.com/Ghana

 

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