Category: Government
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![Manufacturers warn of price increases in coming weeks [audio report]](https://citibusinessnews.com/wp-content/uploads/2018/09/AGI-PIX-1.jpg)
Manufacturers warn of price increases in coming weeks [audio report]
Manufacturers and service providers are warning of an imminent increase in prices of goods and services in the country in the coming weeks. According to them, a number factors including high imports charges and the decoupling of the Value Added Tax (VAT) from the National Health Insurance Levy (NHIL) and the GETFund are to be…
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Pay 15% dividend to govt— Finance Minister to SOEs
Effective next year, State Owned Enterprises (SOEs) will pay at least 15 percent of their gross profit to government. The directive issued by the Finance Ministry follows failure of the government companies to declare their profits to the Ministry. According to a 2017 State Owned Report, all 86 state enterprises refused to submit their audited…
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Groupe Nduom seeks investors’ support into business
The Chairman of Groupe Nduom, Dr. Papa Kwesi Nduom is assuring customers of Gold Coast Holdings and GN Bank of addressing their cash withdrawal needs to a large extent, from Monday [October 1, 2018]. The two institutions within the group, have been hit by panic withdrawals by customers over the past few weeks. This has…
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Zenith Bank gets global data security certification
Zenith Bank has been awarded Payment Card Industry Data Security Standard and ISO 27001 certificates confirming the bank’s strong systems to guard against cyber attacks. The certification follows months of building systems to protect Zenith bank’s data and customers’ deposits. The move also comes at a time where the cyber fraud cases in the financial…
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We’ve not blocked Menzgold’s dividend payments – SEC
The Securities and Exchange Commission (SEC) has denied reports by gold dealership Company, Menzgold, that it has stopped it from paying dividend on its gold vault business to customers. SEC says its decision was rather to stop Menzgold from taking deposits on that particular service. But Menzgold insists it is unable to pay their customers their…
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$50bn century bond to be captured in 2019 budget—Ken Ofori Atta
Finance Minister, Ken Ofori Atta has hinted that the next budget reading will announce processes in issuing the government’s ambitious 50 billion dollar century bond. According to Mr Ofori Atta, the issuance of the bond should help address major challenges confronting the country such as the cedi depreciation. The decision to issue the 50 billion…
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Fuel transport: ACEP proposes utilization of pipelines
The African Centre for Energy Policy (ACEP) wants the mandate of the Bulk Oil Storage and Transportation Company, BOST to be reviewed to deepen its storage capacity. ACEP explains that this should help in finding a lasting solution to the intermittent challenges associated with fuel transportation in Ghana. The comment also follows the sit down…
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Finance Ministry launches Public Investment Management System
The Ministry of Finance has launched the Public Investment Management System which will among other things maintain a comprehensive record of all data associated with investment projects in the country. According to a study carried out by the World Bank in 2012 and confirmed by the recent Public Investment Management Assessment , a number of…
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Review social and economic policies–Prof. Dzodzi Tsikata.
The Director of the Institute of African Studies, University of Ghana, Professor Dzodzi Tsikata, has tasked government to immediately implement measures that will bring reform to the country’s economic and social protection policies. She argues that the policies which have for many years relied heavily on the export of primary agricultural commodities are no longer…
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TUC to push for National Living Wage
The Trades Union Congress (TUC) is set to continue processes to demand Living Wage for workers. The National Living Wage will ensure that the daily wage of an average worker in Ghana caters for at least four people in a family instead of the current minimum wage which caters for only one person. Ghana’s Minimum…