Category: Featured
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Future of Ghana’s private sector promising – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo is optimistic about the potential of Ghana’s private sector, saying the future looks promising. The sheer energy and can-do spirit demonstrated by the private sector, culminating in job and wealth creation, had contributed significantly to economic growth and development, he noted. “The Akufo-Addo Administration is indeed building an entrepreneurial nation…
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GRA closes four shops, urges customers to be voluntary tax compliers
The Ghana Revenue Authority (GRA) compliance and enforcement unit has closed down four businesses for failure to issue Value Added Tax (VAT) invoices of the Authority. The GRA expects that all suppliers of taxable items, goods or services to issue VAT invoice as required by law while the customer is required by law to obtain…
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We only provided credit to govt in 2020 and 2022 – BoG
The Bank of Ghana (BoG) has debunked claims that it has financed the government to the tune of GH¢80 billion. BoG said it did not provide credit to the government from 2017 to 2019 or 2021. The Bank said it was only in 2020 that it issued the GH¢10 billion COVID-19 bond to the government,…
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Local bread producers worried over influx of ‘foreign’ bakers
The bread industry in Ghana, a staple in the diets of the populace, has long been dominated by local producers. However, recent attention has turned to a new sprawling factory situated along the Accra-Tema motorway. This development has raised concerns within the community, as fears grow that large-scale production might lead to the sidelining of…
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Organised Labour to demand increment in 2024 salaries instead of COLA
Organized Labour has said that it will reject the government’s plan to introduce a Cost of Living Allowance (COLA) in next year’s salaries negotiations instead of increasing the salaries of public sector workers. COLA is an allowance given to government employees as short-term relief when immediate salary increments cannot be made. Organized Labour says that…
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BOST net profit increases by 112% in 2022, currently at GH₵342m
The net profit margin of the Bulk Oil Storage and Transportation Limited Company (BOST) has increased from GH₵161 million in 2021 to GH₵342 million in 2022. This was disclosed by the board chairman of BOST, Mr Ekow Hackman, during the institution’s 2nd annual general meeting held at their office in Accra on Thursday, August 17,…
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Govt supporting efforts to make TOR best refiner in Africa – NAPO
The Minister of Energy, Dr. Matthew Opoku Prempeh, has assured of the government’s support in reviving the Tema Oil Refinery (TOR) to boost downstream petroleum production. According to the sector minister, any positive gains recorded by the state-owned refinery would help cushion the government in its operations. Speaking at the 2nd Annual General Meeting of…
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GIPC law 2013 has outlived its usefulness, needs review – Ahomka-Lindsay
Former Deputy Minister of Trade and Industry Robert Ahomka-Lindsay has suggested that the Ghana Investment Promotion Centre Law 2013 be reviewed, arguing that it has outlived its usefulness. The law [Act 271] bars foreigners from engaging in some trade or enterprises reserved for Ghanaians. The Ghana Statistical Service in its inaugural Trade Vulnerability Report said…
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GSS to conduct census of formal and informal businesses
To enhance decision-making for businesses to thrive, the Ghana Statistical Service (GSS) has announced that it will conduct a comprehensive census of informal and formal businesses across the country. The exercise according to the Service will be conducted in two phases with the initial one to be held in mid-October 2023 and the second phase…
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Fuel price goes up; petrol selling at GHS13.50 a litre; diesel at GHS 13.90
Consumers of petroleum products have begun paying more to fill their tanks as of today, August 16, because several Oil Marketing Companies have marginally increased prices. Per Citi Business News checks, market leader Goil has raised petrol prices to 13.50 and diesel price to 13.90 per litre. A litre of petrol formerly sold for 12.95gh…