Category: Government
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SEC intensifies monitoring on Ghana Stock Exchange
The Securities and Exchange Commission(SEC) has set up a monitoring team to ensure all firms abide by the conditions associated with their listing on the Ghana Stock Exchange(GSE). The commission says it will be cracking the whip on firms that default on their listing obligations. Already some firms have been given up to December 2018…
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Ghana’s pepper faces ban from EU markets
Less than 12 months after the ban on the export of five vegetable crops to the EU market was lifted, Ghana faces another ban on its exports. This time, exported pepper is in danger of being blacklisted over questions of quality. About 24,000 tonnes of pepper is exported from Ghana to the EU annually. The…
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2019 Budget to improve corporate tax mobilization—Finance Minister
As government engages different business associations ahead of the 2019 National Budget which is scheduled for next month, Finance Minister, Ken Ofori-Atta has maintained that corporate entities will be encouraged to file their tax returns in the budget through several initiatives. Already, the Trades Union Congress has stated that it does not expect new taxes…
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ExxonMobil deal: Gov’t likely to extend timeline for local partner
ExxonMobil may get an extension of the timeline to select a local partner for its operations in Ghana. Citi Business News understands this may be the option since the government is keen on getting the company to operate in the country’s oil sector. Deputy Energy Minister, Dr. Mohammed Amin Adam disclosed this in an interview…
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Telecoms Chamber to engage gov’t over increased tariffs
The Chamber of Telecommunications has said it is open to further discussions with the government over the imposition of taxes on operations of its members. This follows the increase in telecom service tariffs after the recalibration of the Value Added Tax (VAT). The midyear budget review saw the separation of the 5 percent GETFund and…
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George Andah questions decision by telcos to increase charges
Deputy Minister of Communication, George Andah, finds reasons given by the Ghana Chamber of Telecommunication for an impending increment in tariffs by telcos problematic. The Chamber had announced in a statement issued recently that Airtel-Tigo, MTN and Vodafone will be adjusting their tariffs upwards from November 1, 2018. The Chamber had explained that the increment…
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No renewal of license for fronting companies – Petroleum Commission
The Petroleum Commission of Ghana has cautioned all businesses that engage in fronting to desist from the practice or face the law. The Commission has stated that it will not renew the license of any Joint Venture which fails to fully disclose the identities of its shareholders. The CEO of the Petroleum Commission, Egbert Faibille…
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Aviation authorities attend 13th ICAO conference in Canada
The Deputy Minister of Aviation and MP for Takoradi, Hon. Kwabena Okyere Darko-Mensah has led a team of Aviation experts from the Ministry of Aviation and the Ghana Civil Aviation Authority to attend the Thirteenth Air Navigation International Civil Aviation Conference(ICAO) conference currently ongoing in Montreal, Canada. Also part of the delegation are seasoned experts…
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Govt raises GHS988m domestic bond
Government has raised a total of 988 million cedis bond at a rate of 19.5 percent. The three-year domestic bond which was issued yesterday was also opened to non-resident investors. There is more in this report. An initial guide price for the bond which was open to non-resident investors was set at between 18.75 percent…
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MTN Ghana revenue hits GHS3.54bn
MTN Group has announced that its Ghana unit’s third quarter revenue grew around 23 percent boosted by its mobile money service MoMo, a Reuters report has said. According to Reuters, MTN Ghana said revenue for the nine months ended 30 September 2018 rose to 3.54 billion Ghana cedi from 2.49 billion Ghanaian cedi during the…