Category: Business
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GSE lauds suspension of taxes on capital gains on listed securities
The permanent removal of taxes on capital gains on listed securities in the country has been lauded by the Managing Director of Ghana Stock Exchange, Ekow Afedzie, describing it as critical to the growth of Ghana’s capital market. A capital gain is described as an increase in the value of any asset including stocks, over…
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Government committed to supporting activities of PIAC – Nana Addo
President Nana Addo Dankwa Akufo-Addo has said the government will continually cooperate with the Public Interest and Accountability Committee (PIAC) to carry out its mandate. Speaking at the 10th-anniversary celebration of PIAC, President Nana Akufo-Addo said the government has given PIAC enough resources to implement its policies and programmes since 2017. The President was hopeful…
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Value of MoMo transactions shoots up by over 120% in a year – BoG
The value of mobile money transactions has more than doubled in the last twelve months, according to the Bank of Ghana. The total value shot up by over 120 percent from February 2020 to February 2021. On a monthly basis, the value of transactions from January to February saw a minimal increase of about 1…
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Don’t retaliate over British Airways route change – Government advised
Government has been advised against taking any reciprocal action against British Airways in response to the expected rerouting of London-Accra-London flights from the London Heathrow Airport to the London Gatwick Airport. Earlier this year, British Airways announced it was shelving its decision to operate its Ghana Services from the Gatwick Airport for passengers travelling on…
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Upfield joins the Global Shea Alliance
Upfield, the global leader in plant-based nutrition and the leading producer of plant-based margarines, spreads and cheese products, has joined the Global Shea Alliance (GSA). Upfield has also registered as a GSA sustainability partner, committing to promoting the sustainable development of the shea sector. Joining the Global Shea Alliance is an important component of Upfield’s…
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Domino’s Pizza to commence operations in Ghana
World’s largest pizza company, Domino’s Pizza is set to launch in Ghana to enable customers in the country enjoy the experience. With over 17,100 pizza outlets across the world, the global pizza brand is set to commence operations in Ghana with the first two stores set to open in Accra. A press release issued by…
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African Cashew Alliance predicts increase in cashew production in 2021
The African Cashew Alliance (ACA) is projecting an increase in cashew production in Africa in 2021 despite the effects of the pandemic on the global cashew industry. According to them, Africa is projected to exceed the over 2.1 million total raw cashew nuts (RCNs) it produced in 2020 and will remain the greatest producer of…
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High-priced sanitary pads push women to use diapers
Sanitary pads are considered a luxury item by the Ghana Revenue Authority and thus, they attract an import tax of 20%. In a country that heavily depends on the economic participation of women, high prices of sanitary pads do not only widen the gender gap but prevent women from productively contributing to the development of…
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Policy rate may not change anytime soon – Economist
The monetary policy rate has once again been maintained at 14.5% by the Monetary Policy Committee of Bank of Ghana. This marks the 6th time in the past 12 months that the figure which signals the rate at which the Central Bank will lend to commercial banks has been maintained. In the statement issued by…
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Government’s proposed Housing Authority must be run by technocrats – GREDA
The Ghana Real Estate Developers Association is calling for the government to speed up the establishment of the proposed Ghana Housing Authority. The Association however believes that ensuring the authority is ran by technocrats and industry players who understand the country’s housing sector is key to ensuring it remains relevant in addressing the country’s housing…