Category: Business
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Ghana loses over GH¢50m in quarry royalties – MIIF
The Minerals Income Investment Fund (MIIF) says Ghana loses over GH¢50 million annually in royalties from quarry due to the country’s over-concentration on gold resources. The Chief Executive Officer of MIIF, Edward Nana Yaw Koranteng who said this at the opening of the 2022 Ghana Mining Week and Gold Expo in Takoradi said quarry should…
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We’ll do what is possible for implementation of E-levy next month – Telecoms Chamber
The Chief Executive of the Chamber of Telecommunications, Ing. Dr. Kenneth Ashigbey, says telecom operators will do their best to ensure the required systems are put in place to collect the E-levy. He said he is uncertain if they will be able to finish the process within the one-month window. Speaking on the Citi Breakfast Show on…
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Bawumia unveils joint venture companies under DIHOC
Vice President Dr. Mahamudu Bawumia has inaugurated twelve (12) joint venture production companies under the Defence Industries Holding Company Limited (DIHOC) of the Ghana Armed Forces (GAF), with a call on the business community to venture more into such collaborations with the armed forces. “[It is] Interesting, and it is very important [to know that],…
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European Union, Ghana launch €203M joint programme
The European Commissioner for International Partnerships, Ms. Jutta Urpilainen, and the Minister of Finance, Mr Ken Ofori-Atta, officially launched the Multiannual Indicative Programme for Ghana for 2021-2027 on Thursday, March 31, 2022. The ceremony took place during the Commissioner’s visit to Ghana on 30 and 31 March. A representative from the Ministry of Agriculture, Ambassadors…
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1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey
Director of the Institute of Statistical, Social and Economic Research, at the University of Ghana, Prof. Peter Quartey is concerned that the 1.5% rate of the Electronic transfer levy (E-Levy) will prevent government from achieving the GHC 6.9 billion target set for the levy. President, Nana Akufo-Addo, signed into law the E-levy Bill, two days…
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Deputy Trade Minister clarifies govt’s objectives for Youth Enterprises project
Deputy Minister for Trade and Industry in charge of Industry, Michael Okyere Baafi has clarified government’s objectives for incorporating the Enabling Youth Enterprise under the One District One Factory Policy. With this initiative, young people are put into groups and funded to roll out mainly agribusiness industries. The project with funding from the African Development…
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ISSER to lead new research initiative to deepen digital financial inclusion
The Institute of Statistical Social and Economic Research (ISSER) at the University of Ghana is set to undertake a four-year multi-million-dollar research initiative. The Retail Finance Distribution (ReFinD) Research Initiative is focused on deepening digital financial inclusion and improving women’s access to financial services in low- and middle-income countries (LMICs). The project is led by Prof. Peter…
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Delay in passing E-Levy likely to affect GHC 6.9 billion target – Ofori-Atta
The Finance Minister Ken Ofori-Atta says it is unlikely that government will be able to achieve the GHC 6.9 billion target set for the Electronic Transfer Levy (E-levy). According to him the many delays and hurdles experienced in parliament before the E-levy bill was passed will affect the ability of the Ghana Revenue Authority (GRA)…
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![Stakeholders call for subsidies, tax exemptions to boost adoption of electric cars [Video]](https://citibusinessnews.com/wp-content/uploads/2022/03/The_Rising_Trends-of-Electric-Vehicles-1.jpg)
Stakeholders call for subsidies, tax exemptions to boost adoption of electric cars [Video]
Stakeholders in Ghana’s nascent electric car space are calling for tax breaks and subsidies to boost the adoption of electric cars in the country. According to the Energy Commission of Ghana, there are over a thousand full electric and semi-electric vehicles on the country’s roads. But is there room for increased adoption, and what needs…
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Gov’t in denial over situation with food security in Ghana – GAWU reacts to SONA
The Ghana Agricultural Workers Union (GAWU) says that Ghana is far from being secure in food production despite the progress made in the agriculture sector under this government. The remarks follow the comments made by President Akufo-Addo about Agriculture during the delivery of his state of the nation address on Wednesday, March 30, 2022. Ghana…