Author: citibusinessnews
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Gold Fields Ghana to increase gold production capacity with €450,000 hi-tech rig
Gold Fields Ghana has announced its plans to enhance efficiency and capacity in gold processing with the acquisition of a state-of-the-art comprehensive instrumentation rig, said to be the first of its kind in Ghana’s mining sector and Africa. Speaking at the commissioning of the instrumentation processing rig in Tarkwa, Joshua Mortoti, Head of Gold Fields…
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NPA to commence Cylinder Recirculation Model in September
The National Petroleum Authority (NPA) will, from September, begin the implementation of the revised cylinder re-circulation policy. This first phase is being rolled out six years after the approval of the model. According to the NPA, four bottling plants are ready for takeoff hoping to increase capacity by 50 percent by 2030. The NPA adds…
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Ghana Ports and Harbour justifies tariff adjustment
The Ghana Ports and Harbour Authority (GPHA) has justified its decision to increase port duties, arguing that its port tariffs remain competitive compared to Ghana’s neighbours. GPHA attributed the revision of port tariffs to global economic challenges, inflation, and currency depreciation. In a statement, Ghana Union of Traders’ Association President Dr. Joseph Obeng called on…
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GRA defends contract with Safaritech Ghana
The Ghana Revenue Authority (GRA) has defended its contract with Safaritech Ghana Limited to carry out forensic audits on telecom companies. The Chairman of the Public Accounts Committee (PAC), James Klutse Avedzi, on July, issued a two-week ultimatum to the management of GRA to provide information regarding their contract with auditing firm Safaritech. This ultimatum…
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GUTA demands suspension of new port tariffs
The Ghana Union of Traders’ Association (GUTA) has called on the Ghana Ports and Harbours Authority (GPHA) to suspend the implementation of its new tariffs. Instead, the association has asked the GPHA to “engage stakeholders as the adverse impact of these increases would further compound the high cost of doing business.” This was contained in…
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Mid-Year Budget Review: Finance Ministry engages journalists
The Ministry of Finance has engaged the Parliamentary Press Corps, Institute of Financial and Economic Journalists, and select Editors and Business Journalists, for a Technical Briefing session on the Mid-Year Budget Review. The session, chaired by Chief Director, Madam Eva Mends, was held to engage the media on the technical details of the Mid-Year budget…
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Organised labour willing to engage govt on including pension funds in DDEP
Organised Labour says it is willing to engage with the government regarding the inclusion of their pension funds into its Domestic Debt Exchange Programme. The government has initiated an alternative offer for pension funds exchange, inviting holders of domestic notes and bonds of the central government, E.S.L.A Plc, and Daakye Trust Plc. The offer aims…
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BoG should not entirely be blamed for GH¢60.81bn loss – Adu Sarkodie
An economist at the University of Ghana, Dr. Adu Sarkodie has defended management of the Bank of Ghana over the GH¢60.81 billion loss the apex bank incurred in the 2022 fiscal year. Speaking to Bernard Avle on the Citi Breakfast Show on Citi FM, Dr. Sarkodie indicated that for the period under review, the Bank…
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Revision of Appropriation Bill not major economic achievement – Mona Quartey
Former Deputy Finance Minister Mona Quartey has said that the government’s downward revision of the Appropriation Bill from GH¢227.7 billion to GH¢206 billion should not be celebrated as a major economic achievement. She argued that the government is already cash-strapped and is left with no other option than to be measured in its spending. The…
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![Mid-year budget review 2023 [Full statement]](https://citibusinessnews.com/wp-content/uploads/2023/06/ken-ofori-Attah.jpg)
Mid-year budget review 2023 [Full statement]
The Minister of Finance, Ken Ofori-Atta on Monday, July 31, 2023, presented the mid-year budget review in Parliament. The presentation happened after it was postponed twice from July 25 to July 27 and finally to July 31. Mr. Ofori-Atta in his presentation disclosed that Ghana is currently making modest gains in turning the economy around…