Author: citibusinessnews
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Business Community urges govt to introduce tax relief measures in mid-year budget review
Stakeholders in the business community are urging the government to introduce tax relief measures in the upcoming mid-year budget review. According to Section 28 of the Public Financial Management Act, 2016 (PFMA) Act 921, the Finance Minister, Ken Ofori-Atta, is required by law to present the mid-year budget review to Parliament “not later than six…
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2023 Citi FM/Citi TV ‘This is Ghana Exhibition’ slated for August 26-27
Ghana’s biggest trade exhibition, ‘This is Ghana Exhibition’ organized by Citi FM and Citi TV returns again this August. Hundreds of exhibitors are expected at the annual two-day fair. The 2023 edition has been scheduled for August 26 and August 27 and will be held at the forecourt of the Accra Metropolitan Assembly. The exhibition…
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Ban on cryptocurrency still in force – Finance Ministry warns
The government has reiterated its ban on the use of cryptocurrency in all transactions, saying that all financial institutions in the country have been directed not to engage in crypto transactions. Minister of State at the Finance Ministry, Dr. Mohammed Amin Adam, made the announcement when he answered questions on the floor of Parliament. “The…
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Aggrieved Menzgold customers demand action from Parliament
The Coalition of Aggrieved Customers of Menzgold (CACM) has urged the Speaker of Parliament to admit, move, and deliberate the motion filed on their behalf before the next mid-year budget is presented on July 27, 2023. The coalition said that members of Parliament have not been able to bring the issue to the fore and…
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ECG to begin new nationwide revenue mobilisation from July 11
The Electricity Company of Ghana (ECG) has announced the commencement of a new nationwide revenue mobilization initiative known as “Operation Zero.” Scheduled to begin on July 11 and conclude on September 11, 2023, this two-month campaign aims to recover every outstanding debt to the last pesewa. In an official statement, the ECG emphasized that it…
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NPA cracks down on illegal ‘Gao Gao’ fuel stations in Upper East Region
The Upper East Regional office of the National Petroleum Authority (NPA) has embarked on an exercise to clamp down on 16 illegal reseller outlets popularly known as ‘gao gao’ in the region. The region had observed an alarming proliferation of these reseller outlets in areas such as Pelungu, Duusi, Gbane Shiega, Tongo, Gaare, Chuchuliga, Bolga…
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IMF conditionalities not preventing energy sector leakages – ACEP
The Africa Centre for Energy Policy (ACEP) has disclosed that the conditionalities of the International Monetary Fund are not helping curb the revenue leakages in the country’s energy sector. In a report dubbed, ‘Protecting Ghana’s Economic Sustainability in the Face of Power Sector Risks,’ the energy think tank said the already implemented conditionalities are not…
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Cedi classified among ‘worst spot returns’ in Africa – Bloomberg
Ghana’s local currency -the cedi has been classified among Africans currencies with the ‘worst Spot Returns. This is according to a Bloomberg report. On the World Currency Ranker the cedis performance placed 17th, depreciating by 11.21 percent. According to Bloomberg although the cedi lost about 11.21% to the US dollar in the first quarter of…
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Pecan Energies approves Plan of Development for Deepwater Tano/Cape Three Points block offshore
On behalf of its partners, Pecan Energies, the operator of the Deepwater Tano/Cape Three Points (DWT/CTP) block offshore Ghana, has announced the successful approval of the Plan of Development (PoD) for the DWT/CTP contract area by Ghanaian authorities. “We are thrilled to receive the approval of the PoD for the DWT/CTP block by the Minister…
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GSA holds Exporters Forum to expose importers to trade agreements
As part of efforts to accelerate economic growth and drive foreign exchange, the Ghana Shippers’ Authority (GSA) has held an Exporters Forum to abreast importers and exporters on some of the country’s trade agreements and how they can position themselves to take advantage of it. The forum which was under the theme; ‘Facilitating Shipment under…