Category: Local Economy
-
Signing up to debt exchange programme voluntary – Ofori-Atta
The Minister of Finance, Ken Ofori-Atta, has reiterated that the debt exchange programme is voluntary, and no bondholder is bound to accept the terms of the programme. Giving his opening remarks ahead of a meeting with individual bondholders on Wednesday, January 18, Mr Ofori-Atta said the government is targeting an 80 percent participation in the…
-
Producer price inflation decreases to 52.2% in December 2022
Latest data from the Ghana Statistical Service, GSS, indicates that the Producer Price Inflation (PPI) for December 2022, declined to 52.2% from the 78.0% recorded in November 2022. The decrease in the PPI rate for December 2022 represents a 25.9 percentage points decrease in producer inflation relative to the rate recorded in November 2022. This…
-
Tax analyst proposes 10% levy on churches to fund National Cathedral
Tax Analyst, Francis Timore Boi is advocating for the introduction of a 10% levy on the gross revenue of churches to raise the needed funds for the construction of the National Cathedral. He maintains the move is deep-seated in the Bible which remains the guide of the Christian community. Speaking in an interview with Citi News,…
-
Coronation Insurance partners Chosen Rehab Centre in transforming lives
As part of its vision of transforming the African continent, Coronation Insurance has taken an audacious step to partner with the Chosen Rehab Centre in the quest to transform lives. As part of its social responsibility, the company joined the centre in putting smiles on the faces of people undergoing rehabilitation from various kinds of…
-
NCA approves transfer of majority shares in Vodafone Ghana to Telecel
The National Communications Authority (NCA) has granted conditional approval for the transfer of 70% majority shares in Ghana Telecommunications Company Limited (Vodafone Ghana) held by Vodafone International Holdings B.V. to Telecel Group. This is subject to concessions by the seller and representations made by the buyer to the NCA. The NCA in a statement confirmed…
-
Government extends Domestic Debt Exchange deadline for 3rd time
The government has extended the deadline for the Debt Exchange Programme to Tuesday, January 31, to enable it to build consensus for the programme. This is the third time the government has extended the deadline for the bondholders to voluntarily exchange their bonds for new ones. A tweet by the Ministry of Finance on Monday…
-
Your bonds are ‘potentially worthless’ without debt exchange programme – Gabby Otchere-Darko
The founder of Danquah institute and a stalwart of the ruling New Patriotic party, Gabby Otchere-Darko has taken to Twitter to call for a softer stance in the demands of individual bondholders to be excluded in from the proposed domestic debt exchange programme. He noted that the outright rejection of the programme by individual bondholders…
-
Registrar of Companies increases fee for business registration
The Office of the Registrar of Companies (ORC) has announced an increment in the fees and charges on all transactions including Incorporation and Registration of Businesses, Amendments, and the filing of Annual Returns. The increment took effect on Sunday, January 1, 2023. The increment according to the Office of the Registrar of Companies is in…
-
MTN to fight $773m tax bill from government
MTN Group Ltd., Africa’s largest wireless carrier, said it has received a $773 million back-tax bill, including penalties and interest charges in Ghana that it plans to fight. The bill is for the period between 2014 and 2018 and implies that MTN under-declared its revenue in the country by 30%, the company said in a…
-
Oxford Business Group signs MoU with the AGI for new analysis
The Oxford Business Group, OBG, has signed a memorandum of understanding (MoU) with the Association of Ghana Industries (AGI) as it begins work on “The Report: Ghana 2023.” Under the agreement, the AGI will team up for a fourth time with OBG to produce the Private Sector chapter of the report and other content for…