Category: Business
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Cap taxes on fuel to prevent introduction of new levies – COPEC to Parliament
The Chamber of Petroleum Consumers (COPEC), is calling on Parliament to pass a legislation that will ensure that the quantum of taxes placed on petroleum products doesn’t exceed a certain threshold. The comments follow notice of the implementation of the new tax policies introduced in the 2021 budget statement from 1st May, which according to…
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National Tripartite Committee begins processes to set new minimum wage
The National Tripartite Committee has set up a technical committee to look into modalities to determine the 2021 National Minimum Wage. The team has two weeks to submit its report to the Tripartite Committee for further discussions and conclusion on the minimum wage. Discussions on the minimum wage could not take place in 2020 because…
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AfCFTA: Local businesses must expand or risk collapse – AGI
The Association of Ghana Industries (AGI) says with the commencement of the African Continental Free Trade Area Agreement (AfCFTA), Ghanaian businesses risk losing their market if they do not expand. The association is therefore calling on indigenous businesses to put plans in place to make them very competitive. According to the CEO of AGI, Seth…
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PPI for March 2021 rises to 13%; highest in last 12 months
The average price of goods and services received by domestic producers in the country for their production activities, in the month of March went up by 13 percent, compared with the prices received by the producers in March last year. This rate represents a 2.7 percentage point increase in producer inflation relative to the rate…
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German Cooperation, Trade Ministry collaborate to develop Industrial parks and automotive sector
Ghana’s Automotive Sector is set to witness a major transformation after receiving a grant of over 540,000 Euros from the German Cooperation. The grant agreement is aimed at enhancing the automotive ecosystem and the development of industrial parks in the country. Speaking at the presentation of two vehicles by the German Cooperation to the Ministry…
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![How to overcome startups obstacles in Ghana [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2020/07/side-hustle-business-nigeria.jpg)
How to overcome startups obstacles in Ghana [ARTICLE]
In recent years, Africa is making great strides to become the launch pad for high-growth innovative companies. This is evidenced by the increasing number of tech startups to have received financial backing, which grew by 46% annually. This is six times faster than the global average, according to Partech Partners (a venture capital firm in…
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Bankers Association highlights need for citizens to reactivate dormant accounts
The Ghana Association of Bankers has intensified calls by the Bank of Ghana (BoG) to all persons with dormant accounts to reactivate their accounts. BoG, last month, issued a directive on unclaimed balances and dormant accounts for banks and specialized deposit-taking institutions. The directive sought to ensure that balances in accounts that have been left…
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Don’t lend to government at the expense of private sector – Banks urged
Stakeholders at the launch of a report assessing Ghana’s competitiveness and available opportunities for the country under the African Continental Free Trade Area (AfCFTA) have blamed the continued lending by some banks to government as well as the high treasury bill rates, for the low level of credit advanced by financial institutions to the private…
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AfCFTA: Reduce cost of power, address credit challenges to boost Ghana’s competitiveness – Konfidants
International advisory firm, Konfidants has urged government to devise strategies to strengthen the country’s existing trade relations on the African continent to take maximum advantage of the African Continental Free Trade Area (AfCFTA). Konfidants also advised government to among other things address the exorbitant cost of credit and power in order to prepare the country…
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Building Contractors Association wages war against unregistered foreign contractors
The leadership of the building Contractors Association is up in arms against foreign contractors that fail to register with any association in Ghana and blatantly disregard the rules of engagement. According to the leadership, many foreign contractors come into the country and are aided to win contracts without going through the mandatory registration process. Such…