Author: Ellen Dapaah
-
Parliament approves guidelines to regulate the grant of tax waivers for 1D1F projects
Parliament has approved a set of guidelines to regulate the grant of tax waivers for the one district, one factory policy of government. According to government figures, over 270 projects are currently underway under the policy. Among the guidelines include a ban on the grant of waivers on the importation of products for 1D1F, which…
-
Government withdraws Tax Exemptions Bill from Parliament
Government has withdrawn the Tax Exemptions Bill from Parliament. Even though no official reason was given on the floor for the withdrawal, Citi Business News sources indicate that the withdrawal is to make way for corrections and amendments to the bill. After years of advocacy and pressure from civil society organizations and other actors in…
-
Zeepay MD predicts 16% growth in remittances as economic activities bounce back
Following the International Day of Family Remittances which was recognized on Thursday, June 16th, industry players are optimistic about a higher percentage increase in remittances for Ghana this year following a rebound in economic activities on the global market. Global remittances, the hard-earned money sent by migrant workers to their family members in low and…
-
Inflation continues upward surge; hits 27.6%
Ghana’s inflation has soared again to hit 27.6 percent in the month of May 2022. This represents a four percentage points increase in the inflation rate compared to the 23.6 percent recorded in April 2022. On a monthly basis, inflation however dropped by one percent to record 4.1 percent in May 2022. This was captured…
-
Absa Bank introduces first-ever QR code feature for ATMs
If you are an Absa Bank customer with a penchant for using the bank’s ATM, there’s a new feature on the machine that will make your life simpler and more convenient than before. For the first time in Ghana, customers can now withdraw money from any of Absa’s ATMs with the luxury of a digital…
-
Upward adjustment of tariffs won’t solve ECG’s challenges – Former Power Minister
Former Minister for Power, Dr. Kwabena Donkor has indicated that it will take more than a tariff adjustment to salvage the Electricity Company of Ghana (ECG) from its current financial woes. This comes on the back of proposals by ECG for an increment of more than 140% in tariffs to enable it to cover fully…
-
Fitch rates Ghana as the best trade and investment hub in West Africa
Ghana has been ranked first on the Fitch Solutions Operational Risk Index in the West African sub-region. The Index quantitatively compares the challenges of operating in 201 countries and territories globally. The index scores each country or territory on a scale of 0-100, with 100 being the lowest risk. The research conducted by Fitch scored…
-
Standard Chartered Bank records GH¢1.07 billion revenue in 2021
Standard Chartered Bank Ghana PLC has recorded a revenue of GH¢1.07 billion for the year 2021. This represents a five percent growth in revenue compared to the GH¢1.02 billion recorded in the previous year. Profit before tax for the Bank also stood at GH¢695 million for the 2021 financial year. Operating costs increased from GH¢288…
-
IES predicts petrol will sell above GH¢10 per litre in coming weeks
The Institute for Energy Security (IES) is projecting a rise in price of Gasoline (Petrol) ranging from 5 percent to 9 percent in the first pricing window of June. The Institute is however predicting some form of stability in the prices of Gasoil (Diesel) and Liquefied Petroleum Gas (LPG) in the same period. Per the…
-
Finance Ministry tops list of most fiscally reckless MDAs between 2015 and 2020
The Ministry of Finance has emerged as the ministry with the highest level of fiscal recklessness between 2015 and 2020. This is according to data from the second Fiscal Recklessness Index 2020 Report released by Imani Center for Policy and Education with support from Oxfam Ghana, which ranked financial irregularities for Ministries, Departments and Agencies…