Category: Government
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Ghana Airport Company MD sacked
The Managing Director of the Ghana Airport Company Limited, Mr. John Dekyem Attafuah, has been sacked from his position with immediate effect. According to sources, the dismissal letter dated 16th January 2019, was signed by the Aviation Minister, Joseph Kofi Adda, and addressed to the Board Chairman. Mr. John Dekyem Attafuah has been directed to…
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GPHA cannot be blamed for revenue shortfall—Director General
The Acting Director General of the Ghana Ports and Harbours Authority (GPHA) Michael Luguje says his outfit cannot be blamed for the shortfall in revenue for the Ghana Revenue Authority (GRA) for last year. The comment comes after the GRA stated that some activities at the country’s ports contributed to the revenue shortfall for 2018. According to Michael…
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SEC, EOCO collaborate to investigate Menzgold
The Securities and Exchange Commission (SEC) has told Citi Business News, it is working with the Economic and Organized Crime Office (EOCO) and the Attorney General to speed up investigations into the operations of Menzgold. It follows the dismissal of a suit filed against the SEC and Bank of Ghana by gold dealership firm, Menzgold…
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Cedi depreciates by 11% against the dollar over one year period
The cedi has depreciated by 11 percent between January 2018 and the same period this year [2019]. The local currency is now trading at 4 cedis 91 pesewas to a dollar on the interbank foreign exchange market. This is also remarkable as some currency analysts have predicted that the cedi could hit 5 cedis to…
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Improve system at ports to boost revenue—Importers Association
Importers and Exporters in Ghana have urged the Ghana Revenue Authority (GRA) to improve its systems at the ports to help the Finance Ministry meet its revenue target. According to the importers, even though government introduced some new measures at the ports –the policies failed to yield full results since its implementation faced many challenges.…
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“I was asked to resign from office by Finance Minister”—Former Deputy BoG Governor
Former Second Deputy Governor of the Bank of Ghana, Dr. Johnson Asiama has rejected assertions that he resigned from the Bank of Ghana (BoG) due to his involvement in embattled gold dealership firm Menzgold. Dr. Asiama in reaction to an alleged statement made by a Vice Chairman of the NPP, Omarie Wadie that Dr. Asiama…
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DVLA to prosecute offenders for defrauding public with new e-system
The Driver and Vehicle Licensing Authority (DVLA) has warned that it will prosecute anyone who attempts to defraud the public using its new e-online registration system. The system, which has been in place since January 4, this year is aimed at simplifying the processes of registering car. This is aimed reducing long hours spent at…
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Tullow records 1.8 billion dollars in revenue for 2018
Tullow Oil’s 2018 revenue reached 1.8 billion dollars, according to its January Trading Statement released on Wednesday, January 16, 2018. The oil company also recorded additional proceeds of 0.2 billion dollars from Corporate Business Interruption insurance. Again, the Trading Statement said that Tullow’s net debt at the end of 2018 is estimated at 3.1 billion…
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EOCO delaying arrest of cryptocurrency scam operators—Victims allege
Victims of cryptocurrency scam, Global Coin Community Help are accusing government of dragging its feet in addressing their grievances. According to them, although their issue is similar to that of Menzgold, government has failed to bring the perpetrators to book, several months after their deposits amounting to 135 million cedis got locked up in crypto-currency…
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Govt must set realistic targets for inflation—Economist
Economist, Dr. Lord Mensah has blamed the failure of government’s inability to meet its end of period inflation target for 2018, on the Finance Ministry’s decision of setting unrealistic targets. The inflation rate for the final month of 2018, December, increased marginally to 9.4 percent, from the 9.3 percent recorded in November 2018. The marginal increase…