Author: Benjamin Aklama
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1st Deputy BoG Governor proposes strategies to propel economic recovery
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari has prescribed a number of remedies to aid the recovery of the local economy following the Covid-19 pandemic. Addressing a public lecture organised by the University of Ghana Business School Under the theme, “Re-Thinking Development Finance: Macroeconomic Management When The Love is Gone,”…
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Social mandate of DBG should not override commercial interest – Dr. Vera Fiador
A senior lecturer at the Department of Finance of the University of Ghana, Dr. Vera Fiador says even though the Development Bank Ghana (BBG) is being established with a social mandate of providing patient capital for specific sectors of the economy, Investment drawings from the bank must also be financially sustainable. DBG is being established…
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‘Only’ two million taxpayers in Ghana not enough – Deputy BoG boss
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari says it’s unsustainable for only two million taxpayers to carry the tax burden of the over 30 million Ghanaian population. Even though there are over 16 million users of the various mobile money platforms indicating financial activity for which taxes should be filed,…
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DBG will fail if politicians, others interfere in its operations – Prof. Aryeetey
Secretary-General of the African Research Universities Alliance and a former Vice-Chancellor of the University of Ghana, Prof. Ernest Aryeetey, has cautioned the government against the establishment of another development bank that lends itself to unnecessary influence from politicians and civil servants. Professor Arteetey, a Development Economist, said the failure of previously established Development banks can…
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Agric export earnings to grow by 8 fold within 10 years – Agric Ministry
Agriculture, albeit not receiving as much attention as is desired, is currently contributing about US$2.5 billion to Ghana’s GDP through export earnings. The Agric Ministry is predicting an 8-fold increase in that amount in the next 10 years. The growth is expected to be induced by strategic arrangements by the Agric Ministry to improve crop…
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GRA to clamp down on tax defaulters after September 2021
The Commissioner-General of the Ghana Revenue Authority (GRA), Rev. Ammishaddai Owusu-Amoah says the authority will descend heavily on taxpayers who continue to default after the recent amnesty period elapses by the end of September 2021. Tax defaulters who have failed to pay taxes due the state for the past years or failed to file their…
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Artisanal Palm Oil Producers want 50% reduction in benchmark values reversed
While the Ghana Union of Traders Association, GUTA is calling for the maintenance of the 50% benchmark values reduction policy, Artisanal Palm Oil Millers and Outgrowers say the policy is deepening their woes amidst the Covid-19 pandemic. According to the Artisanal Palm Oil Millers and Outgrowers Association, the policy is rendering locally produced crude palm oil…
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MTN Ghana to pilot 5G network in 2023
The Chief Executive Officer of MTN Ghana, Selorm Adadevoh has announced a partnership with 6 other multinationals to build a comprehensive subsea data cable to serve the African continent and the Middle East region. The move according to the telecom giant is due to its astronomical growth in demand for internet and data services influenced…
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Internal Audit boss wants auditors posted to Ghana’s foreign missions
The Director-General of the Internal Audit Agency, Dr. Eric Oduro Osae says the agency is engaging with the government to ensure that internal auditors are posted to Ghana’s missions abroad in a bid to ensure that Ghana does not lose money through her foreign missions. Section 40 of the Foreign Service Accounting Instructions, 2016, requires…
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Digital payments: Stakeholders call for collaboration among industry players
The Bank of Ghana has urged private players in the digital payments industry to collaborate with each other in order to further boost the penetration of electronic payments in the country. Despite mobile money service’s significant contributions to Ghana’s financial inclusion drive, cash transactions still remain a dominant base of the local economy. Speaking at…