Category: Government
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Pastor Otabil, 14 others sued for the collapse of Capital Bank
The receivers of the defunct Capital Bank, Vish Ahsiagbor and Eric Nana Nipah, working with PricewaterhouseCoopers (PwC) have sued sixteen former directors of the bank. The fifteen persons include former board chair, Pastor Mensah Otabil, founder William Ato Essien and the Chief Executive Rev. FitzGerald Odonkor. In the suit, the receivers stated that the collapse…
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Warehouses operators decry ban on import of selected items
Warehouse operators are appealing to the Ghana Revenue Authority to review a decision to ban some selected items from being kept in warehouses. The Ghana Revenue Authority has banned the storage of imported canned tomatoes, alcohol, lead acid batteries, cooking oil, canned drinks, and canned fish from the customs bounded warehouses as part of a…
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Ghana LNG project finally under construction
Ghana’s liquefied natural gas (LNG) import project is finally under construction, years after its original inception, with two vessels contracted to store and regasify the fuel by the second quarter of 2020, a project partner said. According to Reuters, China Harbour Engineering Company has already begun construction work on a marina with a Floating Regasification…
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![Forex Bureau directives must be properly implemented [Audio report]](https://citibusinessnews.com/wp-content/uploads/2018/11/20812699-1.jpg)
Forex Bureau directives must be properly implemented [Audio report]
Some financial observers are warning that many Ghanaians will be pushed to trade with black market operators if the Bank of Ghana’s directives on foreign exchange trading are not properly implemented. According to them, in as much as the directive seeks to further formalize the financial space, a proper monitoring and enforcement system needs to…
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Government urged to pass HR Bill
The President of the Institute of Human Resources Practitioners (IHRMP), Ghana, Dr. Edward Kwapong has called on the Government of Ghana and Parliament to pass the HR Bill to give the Institute a Charter status which will enable them regulate the practice of HR in the country. Dr. Kwapong made this call when he addressed…
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Telcos increase cost of voice calls
Some telcos have started announcing new rates following the decision to adjust tariffs due to the VAT recalibration. The telcos through the Telecoms Chamber announced that the decoupling of the 2.5 percent NHIL and 2.5 percent GETFund have affected their operations. The chamber last month announced that Airtel Tigo, MTN and Vodafone will adjust their…
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Textile workers demand border monitoring to check smuggling
Leadership of the Textile, Garment and Leather Employees Union (TEGLU) are demanding that the borders at Aflao and other entry points be strictly monitored to stop pirated goods from entering the country. Their demand follows the decision by the Ministry of Trade and Industry and the Ghana Revenue Authority to make the Tema port the…
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![More CSOs give suggestions on 2019 Budget [Audio report]](https://citibusinessnews.com/wp-content/uploads/2018/07/Ken-Ofori-Attah-2-1-1.jpeg)
More CSOs give suggestions on 2019 Budget [Audio report]
More Civil Society Organizations continue to make different suggestions to government ahead of the 2019 budget presentation later this month. While many are calling for effective tax reforms to raise more revenue, others like the Integrated Social Development Centre (ISODEC) are urging government to focus more on expenditure efficiency to reduce the country’s expenditure bill…
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GRA bans some selected items from being kept in Warehouses
The Ghana Revenue Authority (GRA) has banned the storage of some selected items imported and kept in Warehouses as it begins the implementation of a new warehousing regime. The items include canned tomatoes, alcohol, lead acid batteries, cooking oil, canned drinks, canned fish, cement, Lime, paints and chalk. This means that importers of the banned…
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Passing on cost of tax stamp to producers will increase prices—AGI warns
The Association of Ghana Industries (AGI) has appealed to the Ghana Revenue Authority (GRA) to continue to bear the cost of the implementation of the tax stamp policy. The call comes at a time when the GRA is extending the scope of the policy by affixing the stamp on other products already under the policy…