Category: Business
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GNPC begins stakeholder engagements ahead of decommissioning of Saltpond Oil field
The Ghana National Petroleum Corporation (GNPC) has begun a series of engagements to inform, educate and solicit feedback from stakeholders as part of plans to decommission the Saltpond Oil Field, which is also Ghana’s first oil field. A statement issued by GNPC and signed by its General Manager for Sustainability and Stakeholder Relations, Dr. Kwame…
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Tax analyst lauds GRA’s plan of taxing e-commerce, online businesses
Tax analyst, Francis Timore Boi, has lauded the Ghana Revenue Authority’s plans to begin taxing electronic commerce and online businesses. The GRA has disclosed of plans of raking in some GH¢2.7 billion from taxes as it targets betting, gaming, and e-commerce companies starting from April this year. This will mean the likes of Netflix and…
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COVID-19: Govt’s stimulus packages impacted positively on beneficiary firms – GSS Survey
Recent data from the COVID-19 Business tracker survey for wave III conducted by the Ghana Statistical Service, GSS, between 1st and 30th September 2021, has revealed an improvement in sales of some Small and Medium-sized Enterprises as a result of the government’s stimulus packages. The positive effect was evident amongst small businesses as their sales…
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Workers union of GACL urge new MD to desist from privatizing the company
Leadership of the workers union at the Ghana Airport Company Limited (GACL) have welcomed government’s swift appointment of Pamela Djamson-Tettey as the company’s new Managing Director. Her appointment comes after the company’s previous Managing Director, Yaw Kwakwa, submitted his resignation effective close of day February 17, 2022, according to a statement from the company. The…
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AOMCs lament constant hikes in fuel prices
The Association of Oil Marketing Companies says the constant hike in the price of fuel on the global market is taking a toll on their businesses. Speaking to Citi Business News, CEO of the Association of Oil Marketing Companies, Kwaku Agyemang Dua stated that the development has compelled OMCs to reduce their margins to stay…
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Stakeholders advocate for accelerated development through value addition of country’s resources
The Board Chairman of the Mineral Income and Investment Fund, MIIF, Professor Douglas Boateng says Ghana’s position as the largest gold producer is worthless without visible development. According to him, it is unacceptable that there is not much evidence in terms of development despite Ghana’s rich natural resources. Professor Douglas Boateng made the assertion while…
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Ghana Airports Company appoints Pamela Djamson-Tettey as new MD
The Ghana Airports Company Limited has appointed Pamela Djamson-Tettey as its new Managing Director. The company in a statement said she has over 25 years of proven track record in Senior Management, including nine years in the mining industry, nine years in the manufacturing sector and five years in the power sector. Madam Djamson-Tettey is…
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Government set to announce a gradual reversal of Benchmark Value Reduction Policy
A deputy minister for Finance, Mrs Abena Osei-Asare has hinted at a pending announcement of a roadmap for a gradual reversal of the Benchmark Value Reduction Policy. The reversal of the Benchmark value reduction policy was met with stiff resistance from the trading community who threatened an astronomical hike in the price of imported goods…
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Producer Price Inflation rises from 14.7% to 15.6% in January 2022
The year-on-year Producer Price Inflation (PPI) for all industries for the first month of 2022 has risen to 15.6 percent, up from the 14.7 percent recorded in December 2021. The rate represents a 0.9 percentage point increase in the average price of goods and services received by domestic producers in the country for their production…
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World Bank assures of increased support for climate action in developing countries
The World Bank says it will ensure that countries that want to access facilities from it from 2023 show commitment in tackling climate change as well as compliance with the Paris Agreement. This forms part of the World Bank Group’s new Climate Change Action Plan that aims to deliver record levels of climate finance to…