Author: Michael Ogbodu
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Ghana lost $8 billion in undervaluation of gold exports between 2011 and 2017 – ISSER
The Institute of Statistical, Social and Economic Research says Ghana lost about 8 billion dollars between 2011-2017 in taxes due to the undervaluation of gold exports in the country. This was revealed in recent research work by the centre themed curbing Commodity-Trade related illicit financial flows, Policy options for Ghana. ISSER believes that the government…
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Use brokers when purchasing insurance policy -IBAG President urges public
The newly sworn-in President of the Insurance Brokers Association of Ghana (IBAG), Shaibu Ali, is urging the public to deal with insurance brokers rather than directly with insurance firms. According to him Insurance Brokers are trained personnel who can recommend ideal insurance packages for their clients and work to protect their interests. He stated that…
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SSNIT paid GHS3.6 billion to contributors in 2021- Dr Tenkorang
The Social Security and National Insurance Trust (SSNIT) says it paid GH¢3.6 billion to beneficiaries of the scheme in 2021. The Director-General of SSNIT Dr Ofori Tenkorang made this known while speaking during an event organised by the National Pensioners’ Association. “Last year, we paid GH¢3.6 billion as Pensions, Emigration Benefit, Survivors Lump Sum and…
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COPEC charges AOMCs to provide list of members dealing in adulterated fuel
The Chamber of Petroleum Consumers Ghana is urging the Association of Oil Marketing Companies (AOMCs) to work to improve the perception that some of its members retail adulterated fuel at the pumps. There is a general notion amongst Ghanaians that some oil marketing companies engage in such acts that can be damaging to vehicles. Validating…
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GTA shuts down 3 hospitality centres for not paying 1% Tourism Levy
The Ghana Tourism Authority (GTA) has shut down three hospitality centres in the capital. According to the Authority, these businesses owe over GH¢600,000 in levies. Business operators in the tourism and hospitality sector are mandated to pay their 1 percent tourism levy, but Hill View Hotel, Suma Court Hotel and Tayiba Cafe, all in Accra,…
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National Pensioners’ Association commends SSNIT for increasing pensions
The National Pensioners Association says the Social security and National Insurance trust’s (SSNIT) increment of pensions in the country despite the economic impact of the Covid-19 pandemic is commendable. SSNIT last week announced that pensioners in Ghana should expect about a 10 percent increase in their pensions for 2022. Speaking to Citi Business News on…
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SSNIT saves GH¢235M by withholding payments to ‘ghost names’
The Social Security and National Insurance Trust (SSNIT) says following a decision in 2018 to withhold the pensions of persons who failed to renew their certificates, the institution has saved about GH¢235 million. The Director-General of SSNIT, Dr Ofori Tenkorang, made the disclosure at the 5th quadrennial Delegates Conference of the National Pensions Association. “…We…
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Decision to reverse benchmark value discounts must be data-based, not whims – Dr Ampaabeng
Tax Analyst, Dr Alex Ampaabeng, says the government’s final decision on the reversal of the discounts on the Benchmark Values Policy must thoroughly be data-driven rather than based on the fancies of the Ghana Union of Traders Associations (GUTA) and the Association of Ghana Industries (AGI). This, he argues, will save the government from revenue…
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Nestle temporarily withdraws Ideal & Carnation milk off the shelves
Following the public outburst over the content of some of Nestle Ghana’s milk products, the leading consumables manufacturer has decided to take all its Ideal evaporated milk and Carnation tea creamer off the shelves temporarily. According to a press statement released by the company, this move is part of efforts towards ensuring customers get the…
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GUTA advocates deeper stakeholder engagement one year after AfCFTA implementation
A year into the implementation of the African Continental Free Trade Area Agreement (AfCFTA), the Ghana Union of Traders Associations (GUTA) wants more stakeholder engagement to ensure success. The President of the Ghana Union of Traders Associations (GUTA), Dr Joseph Obeng, says a lot more effort will be required to ensure the agreement lives up…