Category: Manufacturing
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Two companies apply for GHS1.2m tax waivers under 1D1F
The Finance Committee of Parliament has recommended the approval of tax waivers amounting to GHS1.23 million for two companies under the government’s flagship industrialisation policy, one district-one factory. The two companies are rePatrn Limited, a plastic manufacturing company and Yedent Agro Bulk Processing company, an agro-based firm. A report presented by the Parliament’s Finance Committee…
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Six insurance companies create pool to insure 1D1F companies
Six insurance companies have announced the creation of an insurance pool to support factories under the One District One Factory initiative. The pool will be used to essentially give investors the needed security and safety in operating those factories. The six insurance companies include SIC Insurance, SIC Life, Glico Insurance, Enterprise Insurance, Vanguard Assurance, and…
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‘Mona by Nehita’, a luxury jewellery line launches in Ghana
If you are a lover of luxury, especially on the jewellery side, ‘Mona by Nehita’, the Los Angeles-based jewellery brand has just launched its unique products and services in Accra. Set to offer the best and affordable jewellery products including earrings, rings, necklaces, chains, pedants, bangles, bracelets, birthstones, anklets, custom pieces and many more, the…
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Government set to introduce loan scheme for “Made in Ghana” cars
Government is working with authorized automobile dealers and distributors as well as leading financial institutions to introduce a comprehensive vehicle financing scheme to enable Ghanaians to buy ‘Made in Ghana’ vehicles, the Trade and Industry Minister Alan Kyeremanten has said. Also, the government had entered into discussions and negotiations with global automobile manufacturers, including…
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Activities in mining and quarrying push June PPI to 7.6%
The Producer Price Inflation (PPI) for June 2019 has increased to 7.6 percent compared to the same period in the previous year. This rate represents a 0.9 percentage point increase in the producer inflation relative to the rate recorded in May 2019 which was 6.7 percent. The Producer Price Index measures the average change over…
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Renewable Energy Act to be amended — Energy Ministry
The Ministry of Energy has disclosed that the Renewable Energy Act is being amended to bring more clarity on the policies and regulations of the act. According to the Ministry, the move is to ensure active participation of the private sector in achieving government’s goal of scaling up the penetration of renewable energy in the…
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Dangote Refinery to end petroleum products import to Africa
Nigeria and other sub-Saharan African countries would soon heave a sigh of relief from the importation of petroleum products, with the imminent completion of the 650,000 barrels-per-day (bpd) Dangote Refinery at Ibeju-Lekki area of Lagos. Mr Devakumar Edwin, Group Executive Director, Strategy, Capital Project and Portfolio Development, announced this at the opening of the…
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AGI urges government to prevent any deliberate power plant shutdowns
The Association of Ghana Industries (AGI) has charged the government to deal decisively with issues that threaten the reliable supply of power to homes and industries in Ghana. The AGI’s reaction follows the threat from the Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDIB), to shut down their power plants if the Ministry…
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PDS remits GHS200m to ECG to defray part of US$600m independent power producers debt
The Electricity Company of Ghana (ECG) has confirmed receipt of GHS200 million from the Power Distribution Service (PDS) Limited. This amount is expected to be used to defray part of the debt owed independent power producers in the country. This comes a week after the Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDIB)…
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Gov’t losing US$200mn in tax revenue to illicit activities in petroleum sector
The Chief Executive Officer of the National Petroleum Authority (NPA), Hassan Tampuli, has revealed that the country loses about US$200 million in tax revenue due to the incidence of smuggling of petroleum products. Speaking at the at this year’s Ghana International Petroleum Conference in Accra, Mr. Tampuli stated that these activities is also responsible for…