Author: citibusinessnews
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Fitch downgrade due to excessive borrowing to finance political promises – Analysts
Economic analysts have blamed the pressures of government’s many political promises for the country’s economic woes and the recent downgrade in Fitch’s ratings. According to them, the continuous borrowing to fulfill expensive social and infrastructural development needs had led the country to a place of severe indebtedness that it continues to struggle to service those…
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COCMAG kicks against fumigation levy on imported raw materials for producing cement
As the country continues to grapple with the continuous increase in cement prices, local cement manufacturers say efforts are being made to avert high production cost in a bid to reduce the price of the product. They, however, say the continuous existence of a fumigation levy (Ghana Health Service Disinfectant levy) on imported raw materials…
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GRA achieves 2021 revenue target with GH¢57.32bn; highest growth in 10 years
The Ghana Revenue Authority (GRA) has exceeded its 2021 tax collections target of GH₵57.06 billion. According to the Authority, it was able to collect 57.32 billion cedis, as against a target of ¢57.06 billion projected in the 2021 budget. A statement, issued by the Ghana Revenue Authority, indicates that the figure represents a growth rate…
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SEC cautions public against Tizaa Ghana Fund ‘investment’ activities
The Securities and Exchanges Commission (SEC) has cautioned the public against doing business with Tizaa Ghana Fund. It said the company has not been licensed to engage in investing or trading for returns business in the country and as such, its activities are not regulated by SEC. Many social media posts over the past week…
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Akufo-Addo appoints Catherine Kakra Quaidoo as Deputy CEO of GIIF
President Nana Addo Dankwa Akufo-Addo has appointed Madam Catherine Kakra Quaidoo as Deputy Chief Executive of the Ghana Infrastructure Investment Fund (GIIF). The appointment was contained in a letter signed by Secretary to the President, Nana Bediatuo Asante, and is said to have been made in line with the Ghana Infrastructure Investment Fund Act 2014…
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Boldly scrap discount on benchmark values – AGI
The Association of Ghana Industries (AGI) has asked the government to be bold and maintain its decision to reverse the discount policy placed on benchmark values. It said the government must ensure that it followed through with its intention to reverse the discount policy from January 17 onwards to help spur industrialisation. Addressing a press…
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![Social enterprise: The quiet solution to Ghana’s unemployment situation [Article]](https://citibusinessnews.com/wp-content/uploads/2022/01/social-enterprise.jpeg)
Social enterprise: The quiet solution to Ghana’s unemployment situation [Article]
Social enterprise has become a growing concept in the global world. Institutions have championed the importance of social enterprise/social entrepreneurship within a public policy context globally, nationally, regionally and locally. The aim of this brief article is to discuss the importance of social enterprise as a key problem solver in dealing with the key economic…
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Microsoft poaches IBM’s Angela Kyeramaten-Jimoh as new strategic partnership lead for Africa
International Corporate expert, Angela Kyerematen-Jimoh, has been appointed by Microsoft as its Strategic Partnership Lead for Africa in its new Africa Transformation Office. Microsoft’s establishment of an Africa Transformation Office (ATO) is a reinforcement of its investment in the continent, to enable digital transformation for the continent powered by Africans for Africa. The office will…
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Public sector workers to receive 2022 first salary on January 21
Workers on government payroll will have their January 2022 salaries paid on the 21st day of the month. This is according to a memo from the Controller and Accountants General’s Department announcing dates for the payment of salaries of civil servants. Salaries for the months of February, March, April, May and June will be paid…
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Striking cocoa carriers reject proposed 82 pesewas-per-bag wage
Cocoa carriers in the Ashanti Region say they will resist any amount less than GH¢1 as wage per bag load for the cocoa beans they carry. The Cocoa Marketing Company Limited, in a letter sighted by Citi News, has agreed to pay the carriers 82 pesewas per bag of cocoa beans they carry instead of…