Author: Nerteley Nettey
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Implementation of textile tax stamp policy will reduce importation – Alan Kyerematen
The Minister of Trade and Industry, Alan Kyerematen has stated that the introduction of the textile tax stamps policy will boost local production. According to him, the stamps will certify the legitimacy of textiles produced, imported and retailed in the country, thereby addressing revenue mobilisation challenges and profitability of the sector. Speaking at the launch…
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Resilient investors key to building robust financial sector – SEC Boss
Director General of the Securities and Exchange Commission (SEC), Rev. Daniel Ogbarmey Tetteh is advocating the need for continuous financial literacy programmes by players within the capital and financial services industry as part of efforts to build a strong sector. This, according to him, will also build resilient investors within the Ghanaian financial landscape who…
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Cocoa freight rates increased: 5% for containerised, 10% for bulk shipment
The Cocoa Marketing Company (CMC), Ghana Shippers Authority (GSA) and 18 shipping lines have agreed to increase basic freight rates for the 2022/2023 cocoa season to all destinations but the United Kingdom (UK). As a result, basic freight for containerised shipments to all destinations except UK has been increased by 5 percent and basic freight…
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Cedi depreciation: BoG, Police arrest over 70 ‘Black Market’ dealers
Officials of the Bank of Ghana, in collaboration with the Ghana Police Service, have arrested over 70 individuals and entities engaged in the business of buying and selling foreign exchange without a licence from the apex bank. The move follows a special operation conducted by the two institutions on foreign exchange parallel market operators, otherwise…
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Bank of Ghana’s MPC meets over economy today
The Monetary Policy Committee (MPC) of the Bank of Ghana will today [September 20, 2022] commence its annual meetings to review developments in the economy. The meeting will also come out with the Monetary Policy Rate which is of keen interest to businesses, as it determines the rate at which the Bank of Ghana lends…
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Passion Air commences flight operations to Sunyani Airport
Ghana’s domestic air travel market is set to witness a major boost with the commencement of flight operations of domestic airline operator with the largest route network in the country, Passion Air to the Sunyani Airport. The flight, according to the company, indicates the start of Passion Air’s Sunyani route which would fly on Mondays,…
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GRA to prosecute business owners who fail to issue VAT invoices
The Ghana Revenue Authority has given the strongest indication that it will in the coming days arrest and prosecute business owners who do not issue Value Added Tax (VAT) invoices to customers. The move which is in line with the Authority’s mandate to improve voluntary compliance is also part of a larger goal to help…
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Stronger regional cooperation between tax authorities critical to success of AfCFTA
The Commissioner-General of Ghana Revenue Authority, Rev Dr. Ammishaddai Owusu-Amoah has underscored the need for deepened regional cooperation between tax authorities of member states of the African Continental Free Trade Area (AfCFTA) agreement, as part of efforts to ensure its success. This, he believes will be critical in preventing tax evasion and aid in detecting…
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Government urged to review agricultural policies to boost food production
The Chamber of Agribusiness Ghana is calling for a relook at government agricultural policies as part of efforts to enhance food production in the country. The Chamber insists that most of government’s policies and interventions have not yielded the desired results. Speaking in an interview with Citi Business News, Chief Executive Officer of the Chamber,…
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Deepened stakeholder collaboration needed to sanitize forex bureau sector – BoG
The Bank of Ghana is urging stakeholders within the financial sector to step up their collaborative efforts to ensure that the forex bureau sector is sanitized of all deliberate market practices that are fueling the cedi’s continuous depreciation. This, according to the Central Bank forms part of efforts to ensure the stability of the local…