Category: Local Economy
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NPA launches fuel monitoring system to seal revenue leakages
As part of efforts aimed at eliminating illicit activities associated with the transportation and effective distribution of petroleum products across the country, government has introduced the National Retail Outlet Fuel Monitoring System. The system will also help reduce revenue losses within the petroleum downstream sector. Already, data from the National Petroleum Authority, NPA, show that…
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Don’t allow OMCs who evade tax to distribute petroleum products – Bawumia to NPA
Vice President, Dr. Mahamudu Bawumia has charged the National Petroleum Authority, NPA, to halt third party distribution of petroleum products to Oil Marketing Companies (OMCs) who evade taxes. The instruction comes on the back of data from the National Petroleum Authority (NPA), which indicates that between 2015 and 2019, government lost over four billion Ghana…
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Partner private sector to attain renewable energy goals – IPPs to government
The Chamber of Independent Power Producers says for the government to attain its renewable energy target in the country’s energy mix, it is important that it includes the private sector. The government has over the years consistently failed to attain its target on renewables for the country. In an interview with Citi Business News, Chief…
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Stakeholders call for timetable for power outages
Following the on-going planned maintenance and upgrade of systems by the Ghana Grid Company, GRIDCo, and the Electricity Company of Ghana, ECG, the Chamber of Independent Power Producers is urging government to come out with a timetable for the imminent power outages the country is currently experiencing. According to the Chamber, the present power challenge…
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Maintenance-induced power cuts likely to end in September – GRIDCo
The Ghana Grid Company (GRIDCo) says Ghanaians will have to deal with the intermittent supply of power until September this year when it will complete its system upgrade. GRIDCo had earlier indicated that it was working on a system upgrade to improve service delivery and had announced that it will come with some intermittent power…
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Hotels record low patronage amid Easter festivities
The fortunes of most hotels across the country are yet to turn for the better this year as the Ghana Hotels Association says business continued to be slow for its members during the Easter festivities. The tourism and hospitality industry has been one of the worst-hit since the outbreak of the COVID-19 pandemic. However, the…
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Profits of leading banks increased in 2020 despite COVID-19 outbreak
Data from the financial statements of some leading banks in the country for the year ended 2020, shows increases in profits for some and some declines for others. This can be gleaned from the Summary Statements of Comprehensive Incomes of 10 of Ghana’s top banks during a year in which COVID-19 ravaged all aspects of…
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Replacing TIN with Ghana card won’t automatically increase revenue – Tax Analyst
A tax analyst, Francis Timore Boi says the replacement of the TIN with the Ghana Card for tax identification purposes by the Ghana Revenue Authority, will not immediately or necessarily result in the exponential growth in the country’s internally generated revenue. According to him, the growth will depend on how the Ghana Revenue Authority fully…
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FDA deploys team to markets to prevent sale of fish washed ashore at Osu
The Food and Drugs Authority (FDA) has dispatched an inspection team to markets in parts of the capital, Accra following the washing ashore of some fish at the Osu Castle beach. The team has been sent to monitor the Osu Mandela market in the Korle-Klottey municipality, in particular. This move, according to the FDA is…
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FDA warns against consumption of washed-ashore fish as lab investigations begin
The Food and Drugs Authority (FDA) has warned the public against consuming any suspicious fish following reports that the fish washed ashore at the Osu Castle beach may have been sent to various markets. According to the Authority, it has also begun laboratory investigations to ascertain whether such fish are good for consumption or not.…