Author: Bobbie Osei
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Vehicle importers urge government to prioritize scrapping nuisance taxes affecting them
The Automobile Dealers Union of Ghana, Importers of vehicles into the country say a recent engagement between the Finance Ministry and stakeholders within the trading space on the issues surrounding the reversal of the reduction in benchmark values policy, will not amount to much. The said meeting which was held on Thursday, January 6, 2022,…
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Importers call for a 2-week deferment of implementation of revised benchmark policy
The Importers and Exporters Association of Ghana is calling for a minimum of a 14-day deferment of the implementation of the reversal of the reduction in benchmark values policy, by the Ghana Revenue Authority (GRA). According to the GRA, implementation of the revised policy will now start on Thursday, the 6th of January, 2022, to…
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Benchmark policy reversal implementation issues to cause rift between agents and importers – IEAG
The Importers and Exporters Association of Ghana is warning of a rift between freight forwarders and their clients if the challenges with the implementation of the reversal of the reduction in benchmark values policy as witnessed yesterday continue. The government’s reversal of the 50% discount in the benchmark values of some imported goods and 30%…
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Prices to go up by 50% with reversal of benchmark values policy – GUTA
The Ghana Union of Traders Association is warning of a steep increase of about 50% in the prices of some major goods imported into the country if the Ghana Revenue Authority (GRA) goes ahead with the implementation of the government’s policy directive on the reversal of the reduction of values of imports on selected items,…
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Construction Chamber chastises stubborn contractors slowing down ongoing payment process
The Ghana Chamber of Construction Industry has described as unfortunate the unwillingness of some contractors to avail themselves to be paid by the government. At the moment, the chamber says contracts worth up to GHC 1 million that are in arrears are being paid by the government. This comes after years of calling on the…
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More infrastructure needed to satisfy growing data demand in Ghana – MTN CEO
Chief Executive Officer of MTN Ghana, Selorm Adadevoh has reiterated the need for the telecommunication industry to improve the current infrastructure base for internet data to ensure they meet the data demands of their customers. According to a recent Fitch Solutions report, Ghana’s telecommunication industry is said to be one of the fastest-growing in Africa…
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MoMo agents bemoan lack of engagement on E-levy
The Mobile Money Agents Association of Ghana have bemoaned the lack of engagement on the Electronic Transfer Levy. According to the association, all attempts to have their concerns heard by the government have proved futile. The group has threatened to embark on a demonstration on Thursday, December 23, 2021 against the proposed 1.75 percent E-levy…
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Increasing interest rates in tandem with policy rate not prudent – Banking Consultant
Banking consultant Nana Otuo Acheampong says it is in the interest of banks not to increase their interest rates in tandem with increases in the monetary policy rate of the Bank of Ghana. The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) a few weeks back, increased the Monetary Policy Rate (MPR) by…
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Ghana imported GH¢6.9 billion worth of rice from 2017 to 2020 – Alan Kyerematen
Minister for Trade and Industry, Alan Kwadwo Kyerematen has revealed that an amount of GHC 6.874 billion was spent on the importation of rice from 2017 to 2020. This comes on the back of consistent calls for the ramping of the production and consumption of local rice in Ghana. Rice is the second most important…
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Housing, fuels, food etc. push November inflation to 12.2 %, highest since 2019
Increases in prices associated with housing and transport across the country as well as an overall increase in the contribution of food inflation to national inflation have pushed the rate for November 2021 to 12.2 %. This is according to the Ghana Statistical Service (GSS). The rate of inflation for the month of November is…