Author: citibusinessnews
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No more permits for new factories manufacturing, bagging Portland cement in Ghana
The Ministry of Trade and Industry has suspended the granting of permits for the construction of new factories for the manufacturing and bagging of Portland cement. The directive, which took effect on September 13, 2023, was announced in a statement signed by the Minister of Trade and Industry, KT Hammond emphasising that all processes leading to…
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Attack on BoG leadership over GH₵60bn loss needless – Ofori-Atta
The Finance Minister, Ken Ofori-Atta, has emphasized that the primary objective of the Bank of Ghana, like all central banks, is not to generate profit. In an article titled “Standing Strong With The Bank of Ghana,” he addressed the importance of managing the central bank as a financially sustainable institution, rather than focusing solely on…
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Govt must urgently address encroachment of cocoa farms by illegal miners – GAWU
The Ghana Agriculture Worker Union (GAWU) is urging the government to urgently address the encroachment and destruction of cocoa farmlands by illegal miners. GAWU maintains that although the 63.6% upward adjustment of the farm gate price of cocoa is welcome, the major issue plaguing the sector is illegal mining. In an interview with Citi Business…
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Businesses cited for non-compliance with VAT regulations
The AH Hotel in East Legon has been found to be in violation of the country’s Value Added Tax (VAT) regulations. An inspection by the domestic tax compliance taskforce of the Ghana Revenue Authority (GRA) on Tuesday revealed that the hotel does not issue VAT receipts to its customers. The meeting with the hotel’s management…
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Kumasi: GUTA threatens mass protest over alleged GRA extortion
Members of the Ghana Union of Traders (GUTA) in the Ashanti region have reiterated their decision to stage a massive demonstration if the government and all relevant stakeholders do not take immediate and decisive measures to address what they describe as ongoing discrimination and intimidation by officials of the Customs Division of the Ghana Revenue…
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COCOBOD to offer cash prizes to eradicate cocoa smuggling
The Ghana Cocoa Board (COCOBOD) has announced plans to offer cash prizes to persons who volunteer information for the arrest of individuals involved in the smuggling of cocoa. This forms part of its key strategies to deal with the prevalence of the menace after 150,000 metric tonnes of cocoa were smuggled out of the country…
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Fiifi Kwetey represents Mahama at Nebraska-Ghana trade and investment forum
The much talked about Nebraska-Ghana trade and investment conference and agriculture program, coming up 11th to 14th September 2023, continues to assert its relevance through the quality of Ghanaians it is attracting to its forum. One of such dignitaries is no other than Ghana’s astute politician, Hon Fiifi Kwetey, who has been confirmed will be…
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Guinness Ghana delivers best year performance despite economic challenges
Leading beverage company, Guinness Ghana, has posted its strongest performance in a financial year since it was set up, 63 years ago. Speaking to investors during the Facts Behind the Figures event organised in conjunction with the Ghana Stock Exchange, Managing Director, Helene Weesie stressed that factors such as inflation, consistent input costs increase, and…
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Menzgold customers appeal to Akufo-Addo for financial bailout
The Coalition of Aggrieved Customers of Menzgold (CACM) has appealed to President Nana Akufo-Addo to provide them with a financial bailout as they await the court hearing of the chief executive officer of the defunct gold trading company, Nana Appiah Mensah, on September 19, 2023. The group has already revealed its intention to hold a…
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Mobile Money Advocacy Group commemorates inaugural MOMAG month
The Mobile Money Advocacy Group Ghana (MoMAG) celebrated the inaugural MoMAG Month with a grand event held on Sunday, marking a significant milestone in the association’s history. MoMAG Month, dedicated to the month of September each year, has become a permanent fixture on the association’s calendar, aimed at recognizing and celebrating the remarkable achievements and…