Category: Business
-
Modify old trade conventions to favor local printing firms – AGI tells govt
The Association of Ghana Industries is calling on government to review some outdated trade policies to give a boost to local producers within the printing, packaging and labeling space. The Association explains that with the growing presence of industrial revolution in the country, local producers have built their competences to meet the demand of clients…
-
Publish gold-for-oil policy document to improve transparency – Dr. Manteaw
The spokesperson for the Civil Society Organization in the Extractive Industry, Dr. Steve Manteaw, is demanding the immediate publication of the policy document regarding the gold-for-oil policy. Expressing concern over the lack of transparency surrounding the policy, Dr. Manteaw emphasized the need for disclosure of the agreement’s terms and conditions. He made these remarks during…
-
Re-consider computation of VAT for local industries- AGI tells govt
Government is being urged to reconsider its current calculation of Value Added Tax (VAT) on indigenous companies whose annual revenue exceed GHS 500,000 per annum to reduce the economic burden on local industries. According to the Association of Ghana Industries per the current calculations of VAT of 15% and the summation of the COVID levy,…
-
IMF proposes acquisition, mergers of banks to mitigate financial sector instability
The International Monetary Fund (IMF) is asking government to consider a possible acquisition and mergers of banks and other non-bank financial instructions as part of moves to mitigate the country’s financial sector shocks. Under its risk assessment matrix, the IMF in its latest country report in Ghana in said these proposals if adopted will among…
-
Ghana and Côte d’Ivoire partner to tackle cocoa smuggling
The Ghana Cocoa Board (COCOBOD) is set to partner Côte d’Ivoire to harmonize the pricing and trading policies of cocoa to help address the issue of cocoa smuggling. Reports suggest that some cocoa farmers in Ghana have been smuggling their cocoa beans to Côte d’Ivoire for sale due to the higher prices offered in that…
-
Mobile money disrupted banking in Ghana – Zeepay CEO
Founder and Chief Executive Officer of Zeepay, Andrew Takyi-Appiah, says the introduction of mobile money disrupted banking in Ghana and other parts of Africa. He indicated that mobile money broke the “curse” of Ghanaians’ inability to walk into a bank to transfer money to another bank “over the counter”. The CEO of Zeepay observed that…
-
Ghana’s oil reserve recording steady growth – GNPC CEO
The oil and gas industry having gone through a global slump during the covid pandemic is now on the path of a steady recovery. In the context of the current shift towards a cleaner energy transition, according to Chief Executive Officer of Ghana National Petroleum Corporation (GNPC), O-A Danquah, is to expedite the responsible and…
-
Fuel pricing: COPEC predicts marginal drop in first window of June 2023
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting a marginal decline in the prices of fuel in the first pricing window of June 2023. COPEC attributes this projection to the relative stability of the forex rates although the international market benchmark prices of crude oil haven’t been that favorable. The Chamber is further predicting…
-
ACEP pushes for research in Africa’s energy sector
With the African Oil and Gas market projected to register a compounded annual growth rate of more than 5.5 per cent between 2022- 2027, the African Center for Energy Policy (ACEP) is calling for holistic research into the energy sector to secure the future of the continent. The Think Tank explains that with the global…
-
African leaders urged to employ energy policies that will transform Africa
Third World Network Africa, a research and advocacy organization is urging African leaders to re-look their respective energy transitions plans to make it more tactful to address the economic needs of the continent. The advocacy group maintains that although the continent is working towards a shift from fossil fuels to renewable energy, the current energy…