Category: Local Economy
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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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New taxes will push a litre of petrol/diesel to GHS6 soon – COPEC
The implementation of some of the new tax policies introduced in the 2021 budget statement from 1st May is likely to contribute to fuel prices rising to GHS6 per litre in the near future. That’s according to the Chamber of Petroleum Consumers (COPEC). Of the new taxes that will be implemented from the beginning of…
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Adhere to high standards to enhance confidence in financial sector – eTranzact Ghana Executive Director
In order to achieve successful financial inclusion in the country, Executive Director of eTranzact Ghana, George Babafemi has charged operators within the budding FinTech space to seek the backing of regulators of the industry when designing products and services for public use. According to him, this will serve as an assurance to end-users that their…
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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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Report on Vincent Bolloré gaining control of Ghana’s ports ‘defective’ – Former GPHA Boss
A former Director-General of the Ghana Ports and Harbours Authority (GPHA), Richard Anamoo, has discredited a report published by Africa Confidential which suggested that French billionaire, Vincent Bolloré has taken full control of the country’s ports. The special report accused Bolloré of underhand dealings by using his firm, Bolloré Africa Logistics to win a contract…
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Plans on course to revamp Ghana’s railway sector – Amewu
Minister for Railways Development, John Peter Amewu has expressed the government’s commitment to reviving and ensuring a vibrant railway sector in the country. According to him, the level of resources the Akufo-Addo government has committed to the sector is a clear indication of its drive to rejuvenate the industry. “The President mentioned in his inaugural…
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Mobile Money accounts grow to 1.2 billion in 2020 – GSMA
Data released by the GSMA indicates that an acceleration in mobile transactions during the COVID-19 pandemic as lockdown restrictions limited access to cash and financial institutions. The report published in its annual ‘State of the Industry Report on Mobile Money’, shows that the number of registered accounts grew by 13 per cent globally in 2020…
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Ban on logging, charcoal production: Give us alternative income source – Dealers to government
There have been concerns over the effects of deforestation in the Savannah Ecological Zone. As climate change intensifies in the area, experts say there will be dire consequences in the coming years, if the menace of logging and commercial production of charcoal is not halted. To this end, the Savannah Regional Minister on behalf of…