Author: Ellen Dapaah
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E-levy likely to erode gains made in digitalization agenda – Ken Ashigbey
The Ghana Chamber of Telecommunications says the electronic transaction levy has the potential of undoing the gains made in digitising the economy. According to the Chamber, this policy initiative is at variance with steps taken by members to improve financial inclusion. The decision to slap a 1.75% tax on electronic transactions has been met with…
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![Stakeholders concerned about impact of e-levy on digitalization drive [Video]](https://citibusinessnews.com/wp-content/uploads/2021/10/mobile-money-ghana.jpg)
Stakeholders concerned about impact of e-levy on digitalization drive [Video]
Stakeholders have warned that the electronic transaction levy risks eroding gains made in digitising the economy. The Finance Minister, Ken Ofori-Atta, in the 2022 budget statement revealed that a 1.75% tax will be slapped on electronic transactions beyond GH¢100 daily and more than GH¢3,000 monthly. But according to observers, this policy initiative is at variance…
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Government’s e-levy policy ill-timed – Telecoms chamber
The Chief Executive Officer of the Ghana Chamber of Telecommunications, Ken Ashigbey, has said that the introduction of the 1.75% levy on electronic financial transactions is ill-timed. He said the chamber was not consulted by the government on the proposal before the announcement was made in Parliament on Wednesday, November 17, 2021. “When we got…
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GIZ awards €250,000 grant to NIC to build MSME resilience in COVID-19 recovery efforts
GIZ-Ghana, on behalf of the German Federal Ministry for Economic Cooperation and Development, has awarded a grant of 250,000 euros to the National Insurance Commission (NIC). The grant, which was signed on Wednesday, November 17 at the GIZ Pinesquare Building in Accra, is expected to be of benefit to millions of micro, small, and medium…
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Standard Chartered Bank named Digital Bank of the Year for the 2nd year running
Standard Chartered Bank Ghana PLC has once again bagged the prestigious Digital Bank of the Year award while its groundbreaking banking platform, SC Mobile, was named the Mobile Banking App of the Year at the 2021 Ghana Information Technology & Telecom Awards (GITTA). These accolades were extended to Standard Chartered during the 11th GITTA Awards…
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Republic Bank launches new mobile app and other digital services
Republic Bank (Ghana) PLC, a subsidiary of Republic Financial Holdings Limited has launched its new and technology advanced mobile app, USSD application and Internet Banking Service. Speaking at the launch of the digital services of the Bank, the Managing Director of Republic Bank, Farid Antar touted the Bank’s new and improved digital services as the…
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2022 Budget: Gov’t tasked to check policies that hinder growth of small businesses
Calls for government to take steps at addressing fundamental challenges facing in various sectors of the economy keep intensifying as Finance Minister, Ken Ofori-Atta, prepares to present the 2022 Budget statement. Businesses in the Small and Medium-sized Enterprise (SME) industry for instance are charging the government to review regulations that hinder the growth of small…
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COCOBOD CEO confident cocoa production will hit 1.5m metric tonnes soon
CEO of the Ghana Cocoa Board (COCOBOD), Joseph Boahen Aidoo has announced that the ongoing rehabilitation of all areas which have been affected by the cocoa swollen shoot virus disease will increase cocoa production to 1.5 million tonnes in the medium term. Speaking at the Netherland Embassy’s Orange Cocoa Day event to highlight and garner…
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2022 Budget: Gov’t urged to institute measures to block tax revenue leakages
Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye is asking the government to adopt pragmatic measures in the 2022 budget to seal all loopholes in Ghana’s tax system to rake in more revenue for development. Ghana loses a substantial amount of revenue annually through illicit financial flows such as trade…
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2022 budget: Stakeholders in manufacturing sector demand policies for stable economy
On November 17, the Finance Minister, Ken Ofori-Atta, is expected to present the budget statement for the 2022 fiscal year. Ahead of this presentation, stakeholders are hopeful that issues such as Ghana’s debt sustainability, illicit financial flows, unemployment, reduction of the revenue and expenditure gap, and many others will be addressed. Managing Director of fast…