Category: Business
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Gov’t must go to stock market to raise funds for infrastructure devt
Minister for Works and Housing, Samuel Atta Akyea has suggested that government heads to the Ghana Stock Exchange to raise 90 billion US dollars to solve all of the country’s key infrastructural problems. According to him Ghana’s economy as it is now will not be able to generate enough revenue to solve the infrastructure challenges…
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IES joins calls to stop amendment to AMERI deal
Opposition has intensified against the new arrangement on the AMERI power deal which is currently before Parliament. The latest to resist the new plan is the Institute of Energy Security (IES). The energy think tank believes the country risks paying more when the deal is agreed upon, in its current form. The IES also cautions…
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Republic Bank Ghana appoints new board member
Republic Bank Ghana, a subsidiary of Republic Financial Holdings Limited has announced the appointment of Mr. David Addo-Ashong as a member of the Board of Directors of the Bank. His Confirmation came following the approval of his appointment by the Bank of Ghana and the Ghana Stock Exchange. Mr. David Addo-Ashong is a Partner at…
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Anglogold Ashanti appoints new CEO
Anglogold Ashanti has appointed Kelvin Dushnisky as the CEO and Executive Director of the company. His appointment takes effect from September 1st 2018. He replaces Srinivasan Venkatakrishnan who will be exiting the company by the end of August. Mr. Dushnisky joins Anglogold Ashanti from Barrick Gold Corporation where he serves as the President and Executive…
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Total Petroleum Ghana rewards transporters
Total Petroleum Ghana has rewarded its best performing Transporters and Drivers for contributing to the attainment of transport safety in the activities of the company in the year 2017. At the Annual Transporter’s Awards night, which took place on 29th June in Accra, the Managing Director of Total Petroleum Ghana, Eric Fanchini stated that ‘Safety…
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Private sector dominates banks’ NPLs – BoG report
Ghana’s private sector still dominates with its share of non-performing loans in the banking sector. The latest banking sector report released by the Bank of Ghana shows that the private sector made up as much as 90 percent of all NPLs for the banking sector as at April this year. The Bank of Ghana says…
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Terkper asks: Is Ghana’s Personal Income Tax regime turning harsh on low-income earners?
Introduction The 2018 Mid-Year Review proposed an additional 35 percent top marginal rate for taxpayers under the Personal Income Tax (PIT) regime. While this has become the main attraction, we note that the Bill to amend the Income Tax Act, 2018 (Act 896) repeats an important downward adjustment in the 5 and 10 percent brackets,…
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BoG maintained 17% policy rate to assess impact of new taxes
Economist, Dr. Lord Mensah has stated that the Bank of Ghana may have maintained the policy rate at 17 percent to avert any negative impact on the economy due to government’s move to introduce new tax measures. “I think it’s in the right direction because for now, we do not know how the economy is…
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Gov’t to introduce more, effective tax measures in 2019 budget
The Finance Minister, Ken Ofori-Atta has revealed that government will be introducing effective measures to collect more property taxes in the 2019 budget. According to him, a revamping of the property tax collection system is needed to help government meet its revenue targets going forward. Government missed its revenue target for the first five months…
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Gov’t, poor credit practices cause of high NPLs – Economists
Some Economists have attributed the continuous rise in Non-Performing Loans (NPLs) in the banking sector to poor credit risk practices on the part of banks. In their opinion, credit to businesses in the country will continue to be high if the banks fail to do due diligence when giving out credit. The comments follow the…