Category: Business
-
GRA’s revenue faces massive dip over fake TIN – Analyst
A Tax analyst, William Demitia is predicting of a huge distortion to revenue for the rest of the year if the Ghana Revenue Authority fails to address allegations of fake issuance of Tax Identification Numbers (TIN). Reports suggest that some tax officials are complicit in the act and it is affecting taxpayers. Citi Business News…
-
PMMC reserves 30% of refined gold to local jewelers
The Precious Minerals Marketing Company (PMMC) is reviewing its strategy to make available, gold and diamond needed by jewelers in the country. This also forms part of efforts to sustain the jewelry industry. The move follows complaints by players in the industry over their difficulty in accessing raw materials needed for their operations. In an…
-
Savings & Loans companies back BoG’s reforms
The Association of Savings and Loans Companies has backed an intended action by the Bank of Ghana to reform the industry. The Association is confident the move will restore confidence and stabilize the financial sector. “Whatever happens, there are certain effects such that it is going to make sure that financial institutions are better positioned…
-
Ghana Finance Week takes off from October 10
Stakeholders within the financial industry will be converging on Accra to chart ways of improving the operations within the sector and restore confidence. The discussion will take place during the Ghana Finance Week scheduled for October 10-13, 2018. The forum is also part of building the financial ecosystem in Ghana amidst the recent happenings in…
-
MPS bemoans controversy over tax waivers
Operator of the Tema Port expansion project, Meridian Port Services (MPS), has lamented the politicization of the tax waivers granted for its operations. Parliament in 2016, granted a tax waiver to the tune of 832 million dollars. But some have suggested a possible review of the amount citing possible instances of downward review of the…
-
PMMC workers call off strike
Workers at the headquarters of the Precious Minerals Marketing Company (PMMC) have called off their sit down strike. The aggrieved workers numbering about fifty, had called for the removal of the Managing Director of the company, Kwadjo Opare Hammond and his entire board for a number of infractions. But after a 5 hour meeting between…
-
Business Group triggers opposition to CTN policy
The Joint Business Consultative Forum has reiterated calls for government to back down on the implementation of the Cargo Tracking Note (CTN) system. The group says the Ghana Revenue Authority has once again acted in bad faith as they have been sidelined. In an interview with Citi Business News, the National Welfare Chairman of GUTA,…
-
Petroleum C’ssion partners Glasgow to boost oil sector
The Petroleum Commission has secured a partnership with Glasgow Caledonian University (GCU) to deliver work-based education to the oil and gas industry in Ghana. The agreement, which was signed on Monday, October 2, 2018 with GCU, will provide educational support and help in strategically positioning Ghana’s oil and gas industry. The Commission and the GCU…
-
Angry PMMC staff ask Nana Addo to sack MD
Some aggrieved workers of the Precious Minerals Marketing Company (PMMC), are calling on President Nana Akufo-Addo to immediately sack the Managing Director of the firm and dissolve the board. According to the workers, the MD, Kwadwo Opare Hammond, has among other things been circumventing the procurement processes of the company. The workers numbering over 50…
-
Eni commits to SDGs with Ghana operations
President Akufo-Addo has met with and the CEO of Eni, Claudio Descalzi to discuss Eni’s operational activities in Ghana. The meeting also looked at the frontrunner role Ghana can play in the partnership Eni recently signed with UNDP. The partnership seeks to combine efforts on the development of renewable energy, energy efficiency, forestry and clean cooking…