Author: citibusinessnews
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Ministry of Energy staff arrested for stealing GHC 287,775 from ADB
The Accra Circuit Court will on September 5 this year resume hearing a stealing case involving a secretary of the Ministry of Energy and the Agricultural Development Bank. Regina Abanga, a secretary at the Ministry of Energy is accused of manipulating ATM machines belonging to ADB and withdrawing sums to the tune of GHC 287,775.…
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GRA to rake GH¢400 million from gaming tax
The Ghana Revenue Authority (GRA) is hoping to rake in some GH¢400 million from the new gaming tax. The new tax seeks to charge 10 percent tax on bet and lotto wins. Speaking to Citi Business News, a member of the Gaming Committee at the GRA, Spio Abedu said the taxes will be deducted at…
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Managers of Regal, Kegali Hotels arrested over Tax non-compliance
The domestic tax revenue unit of the Ghana Revenue Authority (GRA) has apprehended the managers of Regal Hotel in North Kaneshie and Kegali Hotel in Dansoman, Accra. The charges against them stem from their failure to issue Value-Added Tax (VAT) invoices to their customers, a critical requirement under tax regulations. The enforcement effort is a…
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Petrol to sell at GHS12.97, diesel GHS13.43 per litre – COPEC
The Chamber of Petroleum Consumers (COPEC) is predicting that fuel prices may go up by 5.7% within the second pricing window of August 2023. The product is currently being sold at the pumps at an average price of GH¢12.45 per liter. COPEC says the price of LPG will also increase to about 11.9% within the…
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Officials of Quick Credit, Marwako picked up for privacy breaches
Officials of three (3) companies have been picked up for questioning for allegedly breaching data protection laws. This was captured during the commencement of an enforcement exercise of data laws by the Data Protection Commission. The companies are Hisense Ghana Limited, Quick Loan and micro-Investments limited and Marwako Fast Food. Quick Credit Investment and Micro-Credit…
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BoG not mandated to report daily activities to Parliament – Kyei-Mensah-Bonsu
The Majority Leader, Osei Kyei-Mensah-Bonsu, has strongly criticized the Minority Leader, Dr Cassiel Ato Forson, for calling for the resignation of the governor of the Bank of Ghana (BoG) and his deputies amidst allegations of financial mismanagement. The Minority in Parliament is demanding the resignation of Dr Ernest Addison and his deputies, levelling grave allegations…
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Akufo-Addo must address nation on BoG ‘crisis’ – Ato Forson
Minority Leader Dr Cassiel Ato Forson has asked President Nana Addo Dankwa Akufo-Addo to address the nation on the government’s measures taken to resuscitate the Bank of Ghana (BoG). “Given the unprecedented collapse of our central bank, it is imperative for the President of Ghana to urgently address the nation. During this address, the President…
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Cocoa farmers disappointed over discontinued road projects
A group calling itself the Concerned Farmers Association is complaining about plans by the Ghana Cocoa Board (COCOBOD) to discontinue its Cocoa Road construction program. COCOBOD announced that after the completion of ongoing projects, the institution will not embark on any further ventures in road construction because it does not form part of its core…
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Managing Director of TOR resigns
The Managing Director of the Tema Oil Refinery (TOR), Jerry Kofi Hinson has resigned on health grounds, according to a letter sent to President Nana Akufo-Addo. Mr Hinson in his letter dated August 11, 2023, stated that he is unable to continue his role as the MD due to unforeseen health circumstances. “It has been…
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Anchored in strength: Zenith Bank’s steady pursuit of excellence in the first half of 2023
In the midst of a turbulent macroeconomic operating environment, Zenith Bank (Ghana) Limited has emerged as an excellent example of resilience and exceptional performance. The first half of 2023 was not without its challenges – a turbulent global economy, coupled with fluctuating markets. However, in the face of these headwinds, Zenith Bank not only weathered…