Author: Bobbie Osei
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Economist urges Gov’t to signal its readiness to sacrifice as E-Levy debate continues
Economist and lecturer at the University of Ghana Business School (UGBS), Dr. Patrick Opoku Asuming says it’s time for the government to send signals of its willingness to sacrifice some perks if it wants the citizenry to consider accepting the Electronic Transfer Levy (E-Levy). There continues to be opposition to the E-Levy from different quarters…
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Rely on digitization to plug expenditure loopholes – Economist to gov’t
Economist and lecturer at the University of Ghana Business School (UGBS), Dr. Patrick Opoku Asuming has charged the government to hasten efforts at leveraging its digitization agenda to plug any revenue and expenditure loopholes while focusing on property taxation and tax exemptions to raise more revenue. The remarks follow the downgrades of Ghana’s credit rating…
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Government rejects Moody’s downgrade of Ghana’s credit rating
The government is unhappy with credit rating agency, Moody’s, for downgrading Ghana’s Long-Term Issuer and Senior unsecured bond ratings to Caa1 from B3. According to government, it believes that the recent fiscal consolidation measures announced by the Finance Minister and the 2022 budget, which are anchored on debt sustainability and a positive primary balance, largely…
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Gov’t urged to ensure stable fiscal regime to attract more investments
Executives of leading mining company, Gold Fields, say businesses and investors will appreciate stability in the country’s fiscal regime. According to them, a stable fiscal regime helps with the effective running of businesses. Different stakeholders have for some time now been raising issues with the trend of policy inconsistencies from the government especially when it…
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Private management of national airline critical for its success – Daniel Mckorley
Executive Chairman of embattled McDan Aviation, Daniel Mckorley is calling for private management of the proposed national airline if it is to succeed this time around. President Nana Akufo-Addo in his 2021 State of The Nation address, stated that Cabinet had granted policy approval for the establishment of a National Flag Carrier or Home Based…
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Banks likely to give more loans if Ghana card policy takes effect – Bankers Assoc.
The Ghana Association of Bankers, says it is confident banks will be willing to give out more loans after the Ghana Card becomes the only card accepted for all financial transactions. The Bank of Ghana has directed all licensed and regulated financial institutions under the central bank, to accept only the Ghana Card for transactions…
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PMMC appeals for gov’t support to settle its GH¢65 million debt
The Precious Minerals Marketing Company (PMMC) Limited, is calling for government support to settle a legacy debt of over GH¢65 million. The company owes some four banks, and the debt has accrued over a ten-year period. The revelation comes after the 2020 Auditor General’s report, revealed that losses posted by state enterprises and specified entities…
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Airport workers call for sanctioning of operators who flout regulations
The Divisional Union of the Public Services Workers Union (PSWU) at the Ghana Airport Company Limited (GACL) has called for the sanctioning of operators who violate the standards and regulations of the airport. This follows the directive by the GACL for McDan Aviation to suspend its use of Terminal One at the Kotoka International Airport…
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Rate of increase in value of MoMo transactions dipped in 2021
The value of mobile money transactions in Ghana witnessed a significant dip in its rate of increase in 2021 when compared to the rate of increase in 2020. This is according to data from the Bank of Ghana. Whereas the value of mobile money transactions increased by over 100% from December 2019 to December 2020,…
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Cedi depreciation pushes debt to almost GH¢345 billion in Nov; 78.4% of GDP
Latest data put out by the Bank of Ghana puts Ghana’s total public debt stock, as of November 2021, at US$ 58.2 billion or GH¢344.5 billion. In Cedi terms, the total debt stock increased marginally from GH¢341.8 billion in September by about GH¢3 billion to the GH¢344.5 recorded in November. In Dollar terms however the…