Category: Local Economy
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Drivers association hints of fare increases as new energy levies take effect on May 1
With a few days to the implementation of the new taxes that were introduced by the government in the 2021 budget statement, some driver associations are already hinting at an increase in transport fares. According to the Chairman of the Committed Drivers Association, Charles Danso, the taxes will be passed on to passengers by increasing…
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Credit unions appeal for locked-up funds
The Ghana Credit Unions Association (CUA), has called on the government to expedite work on releasing funds belonging to its members that were locked up during the banking sector clean up. According to the association, the locked-up funds, totalling about GHS203 million belongs to regular Ghanaians who are currently going through difficult times out of…
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GUTA welcomes GRA’s digitalisation move but raises security concerns
The Ghana Union of Traders Association has welcomed the recent announcement by the Ghana Revenue Authority to digitize payments for its services. In an interview with Citi Business News, the President of GUTA, Dr Joseph Obeng commended GRA for the latest initiative. “That is the new norm. The world is changing towards digitization, and so…
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VRA to leverage technology to drive down power generation cost
In its quest to improve power efficiency and bring down electricity tariffs in the country, the Chief Executive Officer of the Volta River Authority, VRA, Emmanuel Antwi-Darkwa, has stated that his outfit is forcefully pursuing an innovation and digitization agenda. According to him, the move which is in line with government’s digitization agenda, will safeguard…
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Doubling LPG consumption by 2030 can’t be achieved with new taxes – LPG Marketers
With just a few a days to the implementation of the new taxes announced in the 2021 budget, the LPG Marketing Companies Association of Ghana says the country’s goal of doubling consumption level of LPG by 2030, is now dead. According to the Ghana Revenue Authority (GRA), the new taxes which will take effect from…
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Unresolved power crisis will set Ghana’s economy back by 3 to 5 years – Economist
Economist Dr. Adu Owusu Sarkodie says it will take Ghana 3 to 5 years to recover if authorities allow recent power outages to worsen amid the COVID-19 pandemic. Provisional figures released by the Ghana Statistical Service show that the impact of COVID-19 on the Ghanaian economy was worse than anticipated, as the economy grew by…
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Cap taxes on fuel to prevent introduction of new levies – COPEC to Parliament
The Chamber of Petroleum Consumers (COPEC), is calling on Parliament to pass a legislation that will ensure that the quantum of taxes placed on petroleum products doesn’t exceed a certain threshold. The comments follow notice of the implementation of the new tax policies introduced in the 2021 budget statement from 1st May, which according to…
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CIPDiP commends Energy Minister for his candour and readiness to solve energy problems
The Chamber of Independent Power Producers, Distributors and Bulk Consumers , CIPBiB, wish to commend the Minister for Energy, Hon. Matthew Opoku Prempeh, for his candour. Speaking at the 4-day Energy Sector Work Programme retreat at Ada in the Greater Accra Region, the Minister was reported to have said that the country ought to generate…
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German Cooperation, Trade Ministry collaborate to develop Industrial parks and automotive sector
Ghana’s Automotive Sector is set to witness a major transformation after receiving a grant of over 540,000 Euros from the German Cooperation. The grant agreement is aimed at enhancing the automotive ecosystem and the development of industrial parks in the country. Speaking at the presentation of two vehicles by the German Cooperation to the Ministry…
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Struggling industry slowed Ghana’s economic growth rate in 2020 – GSS
Provisional figures released by the Ghana Statistical Service show that Ghana’s economy grew by 0.4% in the year 2020. The figure which was released by the Government Statistician, Professor Samuel Kobina Annim as part of a lecture at the University of Cape Coast, represents a slower growth rate than what was projected by the International…