Category: Business
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State loses GHC9bn due to reduction in benchmark values – GRA
The Ghana Revenue Authority, GRA, has revealed that government, in the last three years, has lost nearly GHC9 billion in revenue from taxes generated on imported goods as a result of the implementation of the reduction in the benchmark values policy. The amount was lost between April 2019, when the implementation of the policy was…
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Gov’t urged to ban export of crude palm oil to protect local market
The government is being urged to ban the export of Crude Palm Oil (CPO) from Ghana, to ensure local processors have access to the raw material for their work. According to stakeholders in the Crude Palm Oil industry, the current ban on the export of the product by other countries like Indonesia requires that Ghana…
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Kwabena Adu Koranteng Writes : Proliferation of Unlicensed Investment Schemes- A National Security Threat
It is interesting to note that after the emergence and collapse of the infamous MENZGOLD investments schemes, several other unlicensed investment schemes have emerged and are still mushrooming with the latest one being Sidicoin. The Bank of Ghana has sent a stern warning to the general public and registered its displeasure about the operations of…
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Wereko-Brobby advocates against dual use of LPG
Energy Analyst and former Chief Executive Officer of the Volta River Authority, Dr. Charles Wereko Brobby, has raised concerns about the dual use of Liquefied Petroleum Gas (LPG) in the country. According to him, the situation where LPG is used more in the transport industry than for domestic use, is making it difficult for government…
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GRA assures of robust system to keep records on all E-Levy deductions
The Ghana Revenue Authority (GRA) has assured that it has put in place enough systems to track and keep all records of deductions done as part of the implementation of the Electronic Transfer Levy (E-Levy). This follows an order from the Supreme Court charging the GRA to keep accurate records of all e-levy deductions to…
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Supply of cooking oil to stall if Indonesia’s ban on palm oil export persists
Stakeholders in the crude palm oil industry are warning of supply disruptions for cooking oil and imported crude palm oil on the Ghanaian market in the next 2 to 3 months if the ban on palm oil export from Indonesia isn’t lifted soon. Indonesia, the world’s biggest producer of crude palm oil, ordered a ban…
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Henry Chinedu Onwuzurigbo appointed as new Zenith Bank CEO
Zenith Bank (Ghana) Limited has appointed Henry Chinedu Onwuzurigbo as its new Managing Director/Chief Executive Officer of the Bank. He takes over from Anthony Akindele Ogunranti who has been elevated to the position of Executive Director in Zenith Bank Plc. Mr. Onwuzurigbo, until his appointment, was the Executive Director of Zenith Bank Ghana. Before joining…
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CalBank PLC organizes maiden cashless market
As part of efforts to deepen its relationship with merchants and customers, indigenous bank, CAL Bank PLC has disclosed of its new strategy to enable customers transact business digitally. According to the Bank, this forms part of efforts to drive the digitization agenda in the country and increase the adoption of the use of its…
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Momo Agents Assoc. warns of crisis if education on E-Levy isn’t improved
The Mobile Money Agents Association of Ghana is warning of a crisis if government does not ramp up education on the E-Levy for the general public. Despite attempts by the Finance Ministry, the Ghana Revenue Authority (GRA) and the media at raising awareness about the E-Levy, it appears more needs to be done. Checks by…
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![New GNPC boss: The In Tray [ARTICLE]](https://citibusinessnews.com/wp-content/uploads/2022/04/Danquah-1.jpg)
New GNPC boss: The In Tray [ARTICLE]
The newly appointed acting Chief Executive Officer to the Ghana National Petroleum Corporation (GNPC), Opoku-Ahweneeh Danquah, has an excellent profile which is believed more than qualify him for the job, particularly with his background as the Deputy Chief Executive (DCE) Technical Operation. However, he may be confronted with a tall list of challenges that he…