Author: citibusinessnews
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Seth Terkper warns govt against financing long-term development with T-Bills
Mr. Seth Terkper, a former Finance Minister, has cautioned the government against relying on Treasury Bills (T-bills) to finance the country’s long-term development. He explained that T-bills, which are short-term debt instruments with maturities ranging from 91 days to one year, are not sustainable options for financing Ghana’s economic and development needs, which are long-term…
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SSNIT to stop investing in non-profit social ventures – Employment Minister
The Minister for Employment and Labour Relations, Ignatius Baffour-Awuah has given assurances that Social Security and National Insurance Trust (SSNIT) is set to shift policy away from investing in non-profit social ventures to safeguard contributors’ funds. The Minister was responding to concerns of the Public Accounts Committee (PAC) regarding an observation from the 2021 Auditor…
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FWSC flouts Labour Commission’s order to restore GBC staff allowances
The Fair Wages and Salaries Commission (FWSC) has refused to restore allowances of Staff of Ghana Broadcasting Corporation after the National Labour Commission ordered Fair Wages to do so. This was revealed by the Director General of the Ghana Broadcasting Corporation at a Public Accounts Committee today when the state broadcaster was invited to explain…
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Presentation of mid-year budget review rescheduled to July 27
The presentation of the mid-year budget review by the Finance Minister, Ken Ofori-Atta has been rescheduled to Thursday, July 27, 2023. The Second Deputy Majority Whip, Habib Iddrisu said this when he presented the business statement for the ensuing week in Parliament in Accra on Friday, July 21, 2023. “The committee also took into account…
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Ashanti Region: GUTA bemoans exorbitant fees charged by GRA
Members of the Ashanti regional branch of the Ghana Union of Traders Association (GUTA) have accused the Ghana Revenue Authority (GRA) of subjecting them to rigorous checks and making them pay exorbitant duties on imported goods. They described such checks as deliberate targeting which they say is hampering their businesses. Speaking at an event organized…
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Government slaps 21% VAT on Facebook advertisement from August 1
Government has imposed a 21 percent VAT on advertisement on social media platform, Facebook. The newly introduced charge takes effect from August 1, 2023, and applies to both business and personal advertisements. This was announced today by Meta, the parent company of Facebook. By this, all advertisers with a business country of Ghana will be…
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Global Affairs Canada and Agrihouse partner to empower women farmers
Global Affairs Canada has reaffirmed its commitment once again, to continue it partnership, with Agrihouse Foundation, in advancing, empowering and improving, women farmers and farmers with disabilities’ access to resources, tools and opportunities, ahead of the 5th Women in Food and Agricultural Leadership Training Forum (WOFAGRIC) and Gold in the Soil Awards. This partnership highlights…
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ECG urges customers to download PowerApp to pay bills
The Electricity Company of Ghana, Volta Region, has urged customers to download the ECG PowerApp to pay all their outstanding bills to enable the company to provide stable power supply and sustain the electricity supply chain. This initiative according to the company is to enable it mobilize revenue through the ongoing mass revenue mobilization exercise…
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NCA introduces technology neutrality to improve services of networks
The National Communication Authority (NCA) has introduced technology neutrality to create a level playing field and stimulate investment in infrastructure for the deployment of 4G networks by the non-Significant Market Power (SMP) operators. Technology neutrality is one of the remedies to address SMP concerns. According to a statement issued by the authority in Accra on…
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Public Enterprises Minister clarifies govt’s decision to dispose assets of 17 SOEs
The Minister of Public Enterprises, Mr Joseph Cudjoe says the government’s plan to dispose of assets of some 17 defunct State-Owned-Enterprises (SOEs) will enable it acquire private investments into such entities for their development and attendant impact on the areas in which they were located. This follows his announcement of the government’s intention to dispose…