Author: Nerteley Nettey
-
Don’t allow OMCs who evade tax to distribute petroleum products – Bawumia to NPA
Vice President, Dr. Mahamudu Bawumia has charged the National Petroleum Authority, NPA, to halt third party distribution of petroleum products to Oil Marketing Companies (OMCs) who evade taxes. The instruction comes on the back of data from the National Petroleum Authority (NPA), which indicates that between 2015 and 2019, government lost over four billion Ghana…
-
Stakeholders call for timetable for power outages
Following the on-going planned maintenance and upgrade of systems by the Ghana Grid Company, GRIDCo, and the Electricity Company of Ghana, ECG, the Chamber of Independent Power Producers is urging government to come out with a timetable for the imminent power outages the country is currently experiencing. According to the Chamber, the present power challenge…
-
Replacing TIN with Ghana card won’t automatically increase revenue – Tax Analyst
A tax analyst, Francis Timore Boi says the replacement of the TIN with the Ghana Card for tax identification purposes by the Ghana Revenue Authority, will not immediately or necessarily result in the exponential growth in the country’s internally generated revenue. According to him, the growth will depend on how the Ghana Revenue Authority fully…
-
TOR replies Woodfields Energy over $5.7m product shortfall allegation
The Tema Oil Refinery Ltd (TOR) has debunked claims by Woodfields Energy Resources Ltd that there are shortfalls in the product volumes held in tanks at the refinery. According to TOR, the claim that there was a shortfall of Woodfields’ products, equivalent to $5.7 million, was unfounded, as it is not established by any ongoing…
-
Woodfields Energy denies withholding payments to TOR
Woodfields Energy Resources Limited, an indigenous Ghanaian petroleum company, has refuted claims of its indebtedness to the Tema Oil Refinery (TOR) to the tune of five million dollars. According to the company, they have honoured all their payment obligations for processing fees to TOR and is not indebted to the refinery for any processing fee…
-
AIDEC International launches Digital Solutions and Excellence Center
Three months into the operationalization of the African Continental Free Trade Area (AfCFTA), CEO of AIDEC Holdings Ltd, Mr. Ambrose Yennah has emphasized the need for micro, small and medium enterprises, MSMEs to effectively leverage on digital technologies, to drive growth and success. According to him, the pandemic has introduced modern trends of doing business,…
-
Ghana must explore deep waters to avoid exhausting oil reserves – Amoako Tuffour
The secretary to government’s Economic Management Team (EMT), Prof. Joe Amoako-Tuffour has stated that Ghana risks exhausting its oil reserves in the next ten years if it doesn’t move into deep waters to explore oil. His comments come on the back of a warning of an imminent collapse of the country’s petroleum industry by the…
-
Revive quarterly meetings with Finance Ministry – Akufo-Addo to PIAC
President Akufo- Addo has charged the Ministry of Finance and the Public Interest and Accountability Committee, PIAC, to revive their quarterly meetings which have been on hold for some time now and dialogue for better management of the nation’s petroleum resources and revenues. According to him, the proceeds, if not well handled, will turn out…
-
Impact of COVID-19 on commodities continues to cause decline in exports
Latest data from the Bank of Ghana’s Summary of Macroeconomic and Financial Data for the period ending February 2021 shows the value of Ghana’s total exports decreased to about 2.5 billion dollars in February 2021, from the about 2.8 billion dollars recorded during the same time in 2020. An estimated 2.2 billion dollars was spent…
-
Eliminate delays in public service delivery to curb corruption – GII and PEF
The fight against administrative corruption will be a mirage unless it is targeted at eliminating unnecessary delays in the provision of public services. This is part of recommendations made in a report put together by the Ghana Integrity Initiative and the Private Enterprises Federation on using service delivery charters to promote service integrity in Ghana.…