Category: Government
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‘Pull breaks on CTN, engage us more’ – GNCCI to GRA
The Ghana National Chamber of Commerce and Industry (GNCCI) is alarmed at the apparent defiance by the Ghana Revenue Authority (GRA) to go ahead with the Cargo Tracking Notes policy despite the call to engage stakeholders further. The GNCCI is the latest business group to have urged the GRA to pull the breaks on the…
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ACEP demands basis for direct negotiations for oil blocks
The African Centre for Energy Policy (ACEP) is demanding answers over the existence of direct negotiations in the allocation of oil blocks. In ACEP’s view, this contravenes aspects of the law which states that a petroleum agreement shall only be entered into after an open, transparent and competitive tender process. The energy think tank says…
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Subah Reaches end of Contract Settlement with GRA
SubahInfosolutions has agreed an out of court settlement with the Ghana Revenue Authority (GRA). The value of the settlement is approximately three months service fee GH¢16,440,226 which SubahInfosolutions will have earned during the remainder of the contract. The parties have also agreed to an independent value-for-money audit of the assets and other technical infrastructure that…
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Gov’t attracts locals with competitive allocation of oil blocks
The government is anticipating active local participation in oil exploration henceforth. This follows the launch of the country’s first licensing rounds bids evaluation for oil blocks. The exercise is to allow interested investors to own and operate six of the nine available oil blocks. The six oil blocks available for exploration are all located within…
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Re-insurers must guard against industry crisis – Alhassan Andani
Managing Director of Stanbic Bank, Alhassan Andani is urging the Ghana Re-Insurance company to enforce proper data management if it is to secure the industry. According to him, for a resilient and robust reinsurance industry, every loophole and mystery must be solved and accounted for and brought to book so as to prevent the current…
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Shea industry gets GH¢9.2m boost from EXIM Bank
The Ghana Export and Import Bank (EXIM Bank) has approved an amount of 9.2 million Ghana cedis for the processing of shea into cosmetic products and also for export. According to the bank, the investment should translate into the creation of 300 direct jobs. As at 2017, Ghana earned 70.2 million dollars from the export…
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President launches competitive oil block bidding today
President Akufo-Addo is expected to launch the country’s maiden Oil and Gas Licensing Round next Monday [October 15, 2018]. The purpose of the licensing round is to encourage transparency in petroleum agreements while employing competent and capable companies. The decision is also to enhance cost effectiveness and undertake oil exploration in a sustainable and mutually…
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CTN takes off today despite strong oppositions
The implementation of the Cargo Tracking Note (CTN) is due to take off today, 15th October 2018. The system, which has seen much resistance from various business associations has been postponed twice. The latest opposition to the CTN is from a member of the Ghana Institute of Freight Forwarders who has filed a suit at…
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New mortgage law to push interest rates below 20%–Atta Akyea
Government has announced a new mortgage regime which will enable more people take up mortgage facilities with interest rate below 20 percent. According to Works and Housing Minister, Samuel Atta-Akyea government is currently drafting a Legislative Instrument to allow it use part of the pensions fund to support banks in the sale of affordable housing…
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GRA sued over implementation of CTN
A member of the Ghana Institute of Freight Forwarders, John Kwame Adu Jack has filed a suit at the Supreme Court to prevent the implementation of the Cargo Tracking Note (CTN), which is due to take off next Monday [October 15,2018]. Amongst others, Mr. Jack wants the Supreme Court to declare that the introduction of…