Author: Pius Amihere Eduku
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Producer Price inflation records 8.9% in October 2019
The Producer Price Inflation reached 8.9 percent in October 2019. The PPI measures the average change in the prices received by domestic producers for their products. The 8.9 percent recorded in October 2019 is 0.2 percentage points lower compared to the 9.1 percent recorded in September 2019. Data released by the Ghana Statistical Service also…
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Robust collection needed to achieve 2020 revenue targets – IFS
The Institute for Fiscal Studies (IFS), says the Finance Minister would have to do more to achieve what it describes as an ambitious revenue target for 2020. The government in its 2020 budget is seeking to raise 67.1 billion cedis in revenue against an expenditure target of about 86 billion cedis. This means the government…
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2020 Budget: Statement to feature tax policies, expenditure rationalization
The Finance Minister, Ken Ofori-Atta, will today present to Parliament what is considered to be a critical budget of the incumbent government as the country goes into an election next year. One of the major highlights of the budget will be some pronouncements on taxes; as well as efforts to ensure that government’s economic gains…
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Gov’t to levy plastic importers to finance waste management – Prof. Frimpong Boateng
The Minister of Environment, Science, Technology and Innovation, Prof. Kwabena Frimpong Boateng is hopeful Ghana should be able to finance the management of plastic waste with the resumption of the plastic levy. The charge which is paid by importers of plastic products is to help in controlling the impact of plastics in Ghana. Currently, the…
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Ghanaian workers at ENI agitate over unequal pay
Ghanaian workers at ENI, an Italian oil and gas company operating in the country, are agitating over what they call unequal pay structure at the company. The workers say their conditions of service are far below industry levels and want the discrepancies fixed. The concerns by the workers, Citi Business News understands has been triggered…
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Cal Bank names Philip Owiredu as new CEO
Cal bank has nominated Philip Owiredu as the bank’s new CEO prior to an approval by the Bank of Ghana. A statement from the bank said upon approval, Mr. Owiredu is expected to assume the position in January 2020. The appointment follows the retirement of the current Managing Director, Frank Adu. Mr. Owiredu was until…
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Improved debt collection reduces banks’ NPLs by 300 million cedis – BoG report
The Non Performing Loans (NPLs) of banks have dropped by 4.2 percent between August 2018 and the same period in 2019. According to data from the Bank of Ghana, the NPLs reduced from 7.21 billion cedis to 6.91 billion cedis. The Bank of Ghana’s report looked at activities of the twenty-three banks as at the…
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Ghana Gas owes GNPC US$260 million for gas supplied – PIAC report
The first half year report on petroleum revenue management by the Public Interest and Accountability Committee, PIAC, has shown that Ghana Gas Company owes GNPC in excess of 260 million dollars for gas supplied. The issue, PIAC says continues to impact GNPC’s operations as well as other allocations that are to be made per law.…
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Cedi stability, cost of clearing top concerns for businesses ahead of 2020 budget – KPMG report
The stability of the cedi, cost of clearing at the ports as well as Ghana’s tax systems have emerged as key concerns for businesses ahead of the presentation of the 2020 budget and economic policy of the government. A survey by auditing firm, KPMG has shown that the ability of the government to address these…
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Anthony Ogunranti appointed new Zenith Bank Ghana MD/CEO
Zenith Bank Ghana has appointed Anthony Akindele Ogunranti as its new Managing Director and Chief Executive Officer. He takes over from Henry Oroh who has been elevated to the position of Executive Director in Zenith Bank PLC. Mr. Ogunranti, until his appointment, was a Senior Executive Member of Zenith Bank Plc. A statement from Zenith…