Category: Economy
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Gov’t must review Free SHS; scrap some Ministries to ensure value for money — ISSER
A Senior Research Fellow at the Institute of Statistical, Social and Economic Research at the University of Ghana, Dr. Charles Ackah says the government needs to take a hard look at some of its expenditures in the face of domestic revenue shortfall. Government has over the past three years introduced several initiatives such as Free…
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IPPs threaten dumsor over US$1.5bn debt owed by ECG/PDS
The Independent Power Producers (IPPs) have warned that the country could be plunged into dumsor if monies owed them by Electricity Company of Ghana or the erstwhile Power Distribution Services (PDS) are not paid on time. A statement issued by the Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDiB) revealed that they are…
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Industry-Academia collaboration critical to economic growth and employment creation
The President and Executive Dean of the Noble International Business School (NiBS), Prof. Kwaku Atuahene-Gima has charged businesses in the country to take more risks in engaging in other ventures that are not core to their operations, but have the potential to make them more profitable while creating more employment. He made the comments at…
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Ghana drops four places in World Bank Ease of Doing Business report
The ease of doing business in Ghana has deteriorated marginally compared to last year, a new World Bank report has revealed. The World Bank in its latest Ease of Doing Business Report ranked Ghana at 118, representing a drop in four places in the previous year report. The latest Ease of Doing Business report which…
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Ghana’s economic outlook is favourable — IMF
The International Monetary Fund (IMF) has decsribed the country’s economic outlook as favorable after its first assessment of the state of the economy following Ghana’s completion the 4-year bailout programme. The Fund stated that the favorable outlook is further supported by strong performance of the country’s extractive sector as well as a safer banking system…
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IMF calls for “tight” budget ahead of 2020 elections
The International Monetary Fund (IMF) is cautioning Ghana to be mindful of its public spending ahead of next year’s general elections in order not to undo the macroeconomic gains made in the aftermath of the IMF bailout program. The Fund in a statement issued after its routine assessment of the country’s economy asked the government…
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GRA warns its officers and public against tax evasion
The Ghana Revenue Authority (GRA) has issued a stern warning to its officers and members of the public who are involved in or facilitate the evasion of taxes. This follows the latest arrest by the authority of two Chinese nationals for falsifying VAT Invoices and evading payment of lawful taxes to the state. Speaking to…
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![[Video] Laundry services operators decry impact of economy on their operations](https://citibusinessnews.com/wp-content/uploads/2019/10/Palm-oil-business-in-Nigeria-1-660x330.jpg)
[Video] Laundry services operators decry impact of economy on their operations
The Global Dry-Cleaning and Laundry Services Market according to a 2019 Bloomberg report is worth about USD 13.75 billion dollars. That sounds like a lot. In the following report, Citi Business News will seek to put the spot light on the laundry business space in Ghana. What are their challenges and where is the industry headed?
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Ghana loses US$190m as MCC truncates ECG concession agreement
The Millenium Challenge Corporation (MCC) of the United States of America has truncated Ghana’s Power Compact following the decison by the Ghanaian government to terminate the contract of the Power Distribution Services (PDS) over certain fundamental breaches. A statement issued by the US Embassy said the “United States of America notes this decision [termination of…
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Dedicated funding for cyber-security in Africa needed
A dedicated source of funding is needed to boost cyber security in Africa, stakeholders speaking at the 2019 Ghana National Cyber Security Awareness Forum have said. According to them, a permanent and sufficient funding needs to be secured to combat the rise in cyber-crime across the world. They shared the comments at the 2019 National…