Category: Local Economy
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‘Only’ two million taxpayers in Ghana not enough – Deputy BoG boss
The First Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku-Afari says it’s unsustainable for only two million taxpayers to carry the tax burden of the over 30 million Ghanaian population. Even though there are over 16 million users of the various mobile money platforms indicating financial activity for which taxes should be filed,…
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Ministry of Trade justifies agreement that gives EU 80% access to Ghanaian market
The Ministry of Trade and Industry says it will not allow Ghana to become a dumping ground for goods from the UK following the Ghana-UK: Tariff liberalization interim trade agreement which began on Wednesday, September 1, 2021. The tariff liberalization exercise will see Ghana reduce some tariffs on goods coming from the UK. The interim…
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Invest in laterite, others as prices of building materials spiral out of control – GREDA
With statistics pointing to increased numbers of people building during the last quarter of the year, President of the Ghana Real Estate Developers Association (GREDA), Patrick Ebo Bonful has charged government to invest in the production of laterite based materials. His call follows months of consistent increases in the prices of building materials in the…
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DBG will fail if politicians, others interfere in its operations – Prof. Aryeetey
Secretary-General of the African Research Universities Alliance and a former Vice-Chancellor of the University of Ghana, Prof. Ernest Aryeetey, has cautioned the government against the establishment of another development bank that lends itself to unnecessary influence from politicians and civil servants. Professor Arteetey, a Development Economist, said the failure of previously established Development banks can…
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Ghana records $874 million of inbound investments in first half of 2021
Latest Data from Ghana Investment Promotion Centre, GIPC, indicates that the country recorded $874m in investments in the first half of this year from 122 projects. Of the total investments, the Foreign Direct Investment (FDI) component amounted to $829.29 million, while the local component accounted for $44.72 million. This is an increase 32.15% over the…
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Cedi likely to experience further marginal depreciation this year – Economist
With exactly four months to the end of the year 2021, the Ghana Cedi is expected to experience some further marginal depreciation against the U.S Dollar, following a recent period of weakening. After showing a rare determination to shed only about 3.8 percent of its value against the US dollar last year, the local currency…
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Freddie Blay maintained as Board Chair of GNPC
The President, Nana Akufo-Addo, has re-appointed Freddie Blay as the Board Chair of the newly re-constituted seven-member board of the Ghana National Petroleum Corporation, (GNPC). Freddie Blay who has served as Board Chair for the past four years will continue in the same capacity. Mr. Blay is expected to support the management of GNPC, led…
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Our Job Centre has created over 1000 jobs despite COVID-19 pandemic – YEA
The Youth Employment Agency (YEA) says notwithstanding the setback caused by the outbreak of the COVID-19 pandemic, its Job Centre has helped over one thousand youth gain employment. The Job Centre was launched in October 2019, as part of efforts towards making the agency a one-stop-shop employment agency facilitating the employment of the youth in…
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GRA to reject companies’ expenses without VAT invoice from October 1
The Ghana Revenue Authority (GRA) says it will reject any expenditure incurred by any company in Ghana without a Value Added Tax (VAT) invoice starting from October. This, according to the Authority, forms part of moves to, among other things, ensure that all tax revenue leakages are sealed. Over the years, the Ghana Revenue Authority…
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Agric export earnings to grow by 8 fold within 10 years – Agric Ministry
Agriculture, albeit not receiving as much attention as is desired, is currently contributing about US$2.5 billion to Ghana’s GDP through export earnings. The Agric Ministry is predicting an 8-fold increase in that amount in the next 10 years. The growth is expected to be induced by strategic arrangements by the Agric Ministry to improve crop…