No Result
View All Result
Friday, August 12, 2022
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Bank of Ghana widens its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    Our cars to sell for cheaper soon- locally assembled automobile companies

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    Ghana’s inflation rate rises again; hits 31.7% in July 2022

    Fitch downgrades Ghana’s credit rating from B- to CCC

    Ghana Mines Workers’ Union threatens industrial action

    Farmerline begins ‘Support a Farmer’ initiative to provide fertilizer to farmers

    Ghana likely to secure US$3 billion from IMF for economic support

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Bank of Ghana widens its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

    Dr. Ampabeng advocates consolidation of road taxes into fiscal policy

    WAPCo commits to cleaner and reliable energy

  • TECHNOLOGY

    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

  • FEATURES
  • Videos
Citi Business News
  • Home
  • News
    • All
    • Agriculture
    • Economy
    • General
    • Government
    • Local Economy
    • Top Stories

    Bank of Ghana widens its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    Our cars to sell for cheaper soon- locally assembled automobile companies

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    Ghana’s inflation rate rises again; hits 31.7% in July 2022

    Fitch downgrades Ghana’s credit rating from B- to CCC

    Ghana Mines Workers’ Union threatens industrial action

    Farmerline begins ‘Support a Farmer’ initiative to provide fertilizer to farmers

    Ghana likely to secure US$3 billion from IMF for economic support

  • Business
    • All
    • Agribusiness
    • Banking And Finance
    • Manufacturing
    • Markets
    • Mining
    • Oil And Gas
    • Real Estate
    • Tourism
    • Transport

    Bank of Ghana widens its scope on cryptocurrency

    Importers, Exporters Association calls for sympathy for Labianca following corruption claims

    BoG Deputy Governor chairs advisory board of UG’s College of Humanities

    GEXIM CEO is one of Ghana’s 100 most influential business leaders

    Zenith Bank Ghana wins premium quality West African banking brand of the year 2021

    GIPC and GSE sign MoU to attract more investment into Ghana

    Appolonia City unveils its first commercial building; Adumuah Place

    Dr. Ampabeng advocates consolidation of road taxes into fiscal policy

    WAPCo commits to cleaner and reliable energy

  • TECHNOLOGY

    We’re ready to re-engage gov’t on acquisition of Vodafone shares – Telecel

    New deadline for SIM re-registration too short – MoMo agents association

    Extend SIM card re-registration exercise to January 2023 – MoMo agents

    Vodafone agrees sell stake in Ghana’s business to Telecel

    Telecoms Chamber and IIPGH advocate sustained coding education

    IIPGH to enter coding education partnership with Telecoms Chamber

    PayAngel joins Microsoft for Startups Founders Hub

    Node 8, HTU hold first edition of Node X in Ho

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

  • INTERNATIONAL
    • All
    • Africa
    • Asia
    • Europe
    • Middle East
    • US

    Agribusiness entrepreneurs must take advantage of AfCFTA – ADB MD.

    Inflation, debt, and forex crisis is pushing many African economies to the brink – IMF warns

    African countries that could follow Sri Lanka into economic chaos

    Africa’s internet economy to cross $180 billion by 2025: Report

    Regional economic cooperation needed to enhance Africa’s competitiveness – Bawumia

    Ivory Coast is set to receive $26.1 billion worth of development finance from 4 lenders, the EU and France

    Gulf central banks, Bank of England raise policy rates after Fed hike

    US Fed meets inflation surge with 75bp hike

    As Nigeria’s inflation rate accelerates to 17.71%, the World Bank warns millions could face extreme poverty

  • FEATURES
  • Videos
No Result
View All Result
Citi Business News
No Result
View All Result

Reducing cost of doing business: Minister unveils action plan

bycitibusinessnews
May 29, 2017
in Government, Local Economy, Top Stories
Alan Kyerematen - Trade and Industry Minister

Alan Kyerematen - Trade and Industry Minister

Share on FacebookShare on TwitterShare on Whatsapp

New and existing businesses seeking documentation for their operations should be able to do so within a relatively shorter period effective end of this month.

It follows the implementation of a rapid reform action plan towards reducing the duration of registration and cost of doing business in Ghana.

The new agenda being pursued by the government together with the private sector businesses, is targeted at making Ghana more competitive both within Africa and around the globe.

ADVERTISEMENT

In the World Bank’s latest ease of doing business report, Ghana ranked 108th out of a total of 190 countries surveyed.

Although this was an improvement over the previous year’s 111th position, the Trade Minister says more needs to be done to reduce the turnaround time for businesses in Ghana.

At a stakeholders engagement involving the private sector as well as Ministries, Departments and Agencies, Alan Kyerematen was hopeful Ghana could overtake countries such as Mauritius who is currently occupying the 45th position.

At the moment, it takes fourteen days and eight procedures to complete registration for starting a new business.

This costs 615 cedis plus 50 percent of the company’s stated capital.

The number of procedures and days of registering a new business according to the Registrar General’s Department, has been reduced to 6 and five days respectively.

The three other indicators that the reform action plan is targeted at include; getting electricity, constructing permits and trading across borders.

Initially, it will cost a business 62,000 cedis to obtain electricity after completing 4 procedures within 79 days.

The agencies have since initiated some reforms which has reduced the initial payment to about 20,000 cedis while it will take a business about 28 days to get medium to high voltage connections.

Meanwhile, in obtaining construction permits, the initial turnaround time has been slashed by more than half from 170 to 69 days while the number of procedures has been reduced by a day from 14 to 13.

This has largely been influenced by massive slashes especially by the Environmental Protection Agency and the Ghana Water Company Limited who have reduced their turnaround days from 25 to 5 and 30 to 14 working days respectively.

The fourth indicator, bordering on trade facilitation seeks to reduce the turnaround time for exports from 197 to 100 hours by 2019 and reduce cost from 322 to 197 dollars within the period.

In the meantime, the time to import has been slashed by thrice while cost to import with border compliance has equally reduced from 775 to 553 dollars.

The private sector businesses have since lauded the move to make them competitive to meet the agenda of private sector growth.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

Related Posts

Banking And Finance

Bank of Ghana widens its scope on cryptocurrency

byEllen Dapaah

The Bank of Ghana has assured stakeholders of its preparedness to sanitize the digital space with respect to cryptocurrency. The...

Read more

Importers, Exporters Association calls for sympathy for Labianca following corruption claims

Our cars to sell for cheaper soon- locally assembled automobile companies

BoG Deputy Governor chairs advisory board of UG’s College of Humanities

Ghana’s inflation rate rises again; hits 31.7% in July 2022

Fitch downgrades Ghana’s credit rating from B- to CCC

Ghana Mines Workers’ Union threatens industrial action

Next Post

Citi Business Festival starts on Thursday

Video on Demand: Business Weekly

ADVERTISEMENT
Citi Business News

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.

Navigate Site

  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

Follow Us

No Result
View All Result
  • Home
  • News
  • Business
  • TECHNOLOGY
  • INTERNATIONAL
  • FEATURES
  • Videos

© 2019 Citi Business News - CitiBusinessNews.com by CNR Digital.