Category: Featured
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Switzerland, China two other countries account for half of all exports from Ghana
Findings from the Ghana Statistical Service’s 2022 Trade Vulnerability Report indicate that four countries, account for over half of all exports while six countries are the source of about half of all imports. The countries are Switzerland, China, Canada and South Africa. The report further indicated that over two-thirds of all exports come from only…
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Ministry of Energy staff arrested for stealing GHC 287,775 from ADB
The Accra Circuit Court will on September 5 this year resume hearing a stealing case involving a secretary of the Ministry of Energy and the Agricultural Development Bank. Regina Abanga, a secretary at the Ministry of Energy is accused of manipulating ATM machines belonging to ADB and withdrawing sums to the tune of GHC 287,775.…
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Restore GN Savings and Loans license – Former staff urges govt
A group calling itself concerned former employees of defunct GN Savings and Loans Limited is appealing to the Akufo-Addo government to restore the bank’s license to complement efforts in creating sustainable jobs. GN Bank which was under the Groupe Nduom brand lost its operational license after it was reclassified as a Savings and Loans firm…
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GRA to rake GH¢400 million from gaming tax
The Ghana Revenue Authority (GRA) is hoping to rake in some GH¢400 million from the new gaming tax. The new tax seeks to charge 10 percent tax on bet and lotto wins. Speaking to Citi Business News, a member of the Gaming Committee at the GRA, Spio Abedu said the taxes will be deducted at…
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Ghana’s 2022 imports exceeded exports by GH₵4.5bn
Ghana faced a notable trade imbalance in 2022, as indicated by the inaugural Trade Vulnerability Report from the Ghana Statistical Service. The report reveals that the country’s imports exceeded its exports by GH₵4.5 billion, underscoring a significant economic challenge. The most striking contrast emerged in September, during which imports surpassed exports by over GHS4 billion.…
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Ghanaians to pay more for rice as imports face 40% reduction
Consumers of rice may in the coming days pay more for the grains as importers of rice are projected to face about 40 percent reduction in imports. This is according to the Competitive Africa Rice Platform. It comes on the back of India’s decision that it would restrict exports of non-basmati rice to calm domestic…
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Managers of Regal, Kegali Hotels arrested over Tax non-compliance
The domestic tax revenue unit of the Ghana Revenue Authority (GRA) has apprehended the managers of Regal Hotel in North Kaneshie and Kegali Hotel in Dansoman, Accra. The charges against them stem from their failure to issue Value-Added Tax (VAT) invoices to their customers, a critical requirement under tax regulations. The enforcement effort is a…
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T-bills auction: Government records 15.3% oversubscription
The Government of Ghana’s T-bill offer across 91-day to 364-day bills was oversubscribed by approximately 15.3% relative to the target size of GHS 3.065 million at last week’s auction. The offer attracted total bids estimated at GHS3.54 billion, with the Treasury accepting 99.21% of the bids valued at GHS3.51 billion. According to figures from the…
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About 2000 youth to benefit from garment and apparel module by YEA
Government has revealed that about 2000 youth are set to benefit from the phase one of the Garment and Apparel Module being rolled out by the Youth Employment Agency (YEA). This, government maintains will contribute to sustainable jobs geared towards reducing the high unemployment rate in the country. Speaking at the launch of the new…
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Petrol to sell at GHS12.97, diesel GHS13.43 per litre – COPEC
The Chamber of Petroleum Consumers (COPEC) is predicting that fuel prices may go up by 5.7% within the second pricing window of August 2023. The product is currently being sold at the pumps at an average price of GH¢12.45 per liter. COPEC says the price of LPG will also increase to about 11.9% within the…