Category: Government
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Concerned Farmers Association calls for review of Ghana’s cocoa sector
The Concerned Farmers Association of Ghana says the recent development in the Cocoa industry requires a revisit to the conversation of cocoa processing in the country. China is reported to have exported its first batch of cocoa to Europe, a development some stakeholders say raises some concerns about the future of Ghana’s cocoa sector. The…
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Don’t lend to government at the expense of private sector – Banks urged
Stakeholders at the launch of a report assessing Ghana’s competitiveness and available opportunities for the country under the African Continental Free Trade Area (AfCFTA) have blamed the continued lending by some banks to government as well as the high treasury bill rates, for the low level of credit advanced by financial institutions to the private…
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Government’s new tax policies to take effect from May 1
The implementation of the new tax policies announced in the 2021 budget statement and duly approved by Parliament will take effect from May 1, 2021. The implementation date was announced in a statement issued by the Ghana Revenue Authority (GRA) on April 20, 2021. According to the government the implementation of the new taxes which include…
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New tax court not enough, more needs to be done – Tax Analyst
Government has been urged to complement the expected establishment of a tax court with other reforms to ensure the many tax issues the country continues to deal with, are addressed. The Chief Justice, His Lordship Kwasi Anin Yeboah in a letter to the Ghana Bar Association on Friday, revealed that the Judicial Service is preparing…
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New Tax Court will assist in revenue mobilization efforts – Tax Analyst
The coming establishment of a tax court should greatly aid government’s efforts at meeting its Domestic Non-oil Tax Revenue for 2021. That’s according to a tax analyst. According to the 2021 budget, Total Revenue and Grants for this year is pegged at GH¢72.4 billion, equivalent to 16.7 percent of GDP, out of which Domestic Revenue…
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Balance developmental spending and debt accumulation – IMF to Ghana Government
The International Monetary Fund (IMF) says it is more important now than ever, that Ghana balances its developmental spending needs against the rate of debt accumulation by the country. Ghana’s debt to GDP ratio crossed the dreaded 70% threshold back in September 2020 and is expected to hit 81.5% by the end of this year…
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Banks urged to meet BoG criteria for dividend payment to shareholders
Banking Consultant, Nana Otuo Acheampong has urged banks to work assiduously to satisfy the six minimum criteria set by the Bank of Ghana as preconditions for the payment of dividends to their shareholders. The Central Bank in a new notice to Banks and Special Deposit Taking Institutions (SDI’s), urged the institutions to desist from declaring…
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Invest borrowed money into productive activities – Prof. Quartey to government
As the discussion around the International Monetary Fund’s (IMF) classification of Ghana as a low income developing country continues, the Head of the Institute for Statistical, Social and Economic Research (ISSER), Professor Peter Quartey has called on the government to focus on building a resilient economy that will thrive after the COVID-19 pandemic is dealt…
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Timing for proposed increment in electricity tariffs wrong – Consumer Protection Agency
The Chief Executive Officer of the Consumer Protection Agency, Kofi Kapito, says any possible increment in electricity tariffs would be ill-timed. Though he acknowledged the need for an increase in tariffs, he has instead urged the Public Utility Regulatory Commission (PURC) to focus on seeking compensation for customers who have lost electrical gadgets due to…
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There’ll be systematic power outages in May – Energy Minister
Ghanaians would have to brace up themselves for more power outages in May 2021. According to the Minister of Energy, Dr. Matthew Opoku Prempeh, there will be an erratic power supply in May due to the ongoing upgrade of the Kasoa and Pokuase substations. Speaking at a forum in Accra on Thursday, April 8, 2021,…