Category: Banking And Finance

According to them, the country has not benefited much from such a regime as lot of companies who  are given the incentives are multinationals who mostly repatriate their profits to their home countries. Free Zones companies for instance enjoy up to ten years tax holiday. Speaking to Citi Business News after a 2019 post budget…

The Finance Minister, Ken Ofori Atta has attributed the shortfall in revenue despite new tax measures to the delay in enforcing the tax policies. He is however anticipating that the government should be able to improve its revenue collection going forward with the rolling out of some of the tax measures in the 2019 budget.…

Forex Bureau operators are yet to comply with a directive by the Bank of Ghana asking them to check identity cards of customers before doing business with them and also issue receipts for every transaction. The BoG three weeks ago served notice to Forex Bureau operators that it was going to reinforce the directives as…

A Deputy Minister for Finance, Charles Adu Boahene, has defended government’s decision to issue a $50 billion long-term bond, saying it is the best strategy government can adopt to meet the country’s infrastructural needs in the long-term. He argues that the bond will provide government a lot of fiscal space to meet the infrastructural plans…

The Ghana High Commissioner to the UK, Papa Owusu Ankomah, has lauded the Managing Director, Mr. Anselm Ray Sowah and Management of GCB Bank Limited for sponsoring and participating in the October 2018 Ghana Investment and Opportunities Summit held in London. He said, the Bank’s participation and presentation as well as interaction with the business…

the Finance Minister, Ken Ofori-Atta has stated that government will ensure efficient public spending in 2019 by enforcing the Public Procurement Act (PPA) Mr. Ofori-Atta explained that the PPA has the capacity and legal backing to assess all sole-sourced projects in the country. Sole sourcing of projects have over the years become a heated political…

The Minister of Finance, Ken Ofori-Atta has described Ghana’s program with the International Monetary Fund as a necessary pill due to the previous government’s fiscal indiscipline practices. Speaking on the floor of parliament during the 2019 budget presentation the Finance Minister expressed gratitude to the IMF for the support as Ghana prepares to exit by…

Government is planning to spend a total 73.4 billion cedis in the 2019 fiscal year. This is equal to 21.3 percent of GDP, representing a growth of 27.0 percent above the projected outturn for 2018. The Finance Minister Ken Ofori-Atta made the announcement in parliament today when he presented the 2019 budget themed a “Stronger…

Finance Minister, Ken Ofori Atta has reiterated that will use all the legal processes available punish all persons found complicit in the collapse of some seven banks in the country. The Bank of Ghana has so far revoked the licenses of seven banks after investigations proved they were insolvent and illiquid. Presenting the 2019 Budget,…

The Minister of Finance, Ken Ofori-Atta has announced a revenue target of GHS 58.9 billion for the year 2019. The figure represents 17.1 percent of the rebased GDP which stands at 256.7 billion Ghana Cedis for 2017. Compared to the 2018 revised revenue and grants target of 50.68 billion Ghana Cedis, the 2019 target of 58.9 billion…