Category: Local Economy
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EOCO, SEC caution public against doing business with these 17 unlicensed entities
The Securities and Exchange Commission (SEC) is cautioning the public against doing business with some 17 entities providing investment products without a license. In a joint statement issued by SEC and the Economic and Organized Crime Office (EOCO), it was revealed that these entities were found to be operating through online portals. This was a…
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GRA to prosecute business owners who fail to issue VAT invoices
The Ghana Revenue Authority has given the strongest indication that it will in the coming days arrest and prosecute business owners who do not issue Value Added Tax (VAT) invoices to customers. The move which is in line with the Authority’s mandate to improve voluntary compliance is also part of a larger goal to help…
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Don’t extend ban on exportation of grains again – Peasant farmers to gov’t
The Peasant Farmers Association of Ghana has described the ban on the exportation of selected grains in the country as counterproductive. The government had announced an extension of the ban on produce such as maize, rice, soybeans, and other grains. The ban, which took effect in September 2021, was due to expire at the end…
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Food scientists push for stronger collaboration to ensure resilient food systems
Food scientists are calling for a stronger collaboration between government, producers and consumers to help ensure a more resilient food system. In Ghana, it is estimated that 2.5 percent of the population suffer from food-borne illness each year. This is according to the Ministry of Food and Agriculture and a World Bank report. Recently, a…
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New IMF Mission Chief for Ghana arrives in Ghana, meets Ofori-Atta and 1st Deputy Governor
The new International Monetary Fund, IMF, Mission Chief for Ghana, Stéphane Roudet, has paid a courtesy call on the Minister for Finance, Ken Ofori Atta and the first Deputy Governor of the Bank of Ghana, Dr. Maxwell Opoku Afari. Stéphane Roudet is in the country following his appointment as the new IMF Mission Chief for…
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Avoid issuing dud cheques, securing loans will be adversely affected – BoG
The Bank of Ghana is cautioning customers of banks who issue dud cheques to desist from that since it adversely affects their credit report and chance of securing a credit facility with any financial institution. The warning was captured as part of the Central Bank’s financial literacy program dubbed “Improving Your Credit Worthiness”. It is…
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Ghana-IMF $3bn deal to be finalised before end of year – IMF boss
The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has stated that a deal between Ghana and the IMF should be reached and finalized before the end of the year. In a closed-door meeting with the President of the Republic, Nana Addo Dankwa Akufo-Addo, on Monday, 5th September 2022, on the sidelines of…
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Stronger regional cooperation between tax authorities critical to success of AfCFTA
The Commissioner-General of Ghana Revenue Authority, Rev Dr. Ammishaddai Owusu-Amoah has underscored the need for deepened regional cooperation between tax authorities of member states of the African Continental Free Trade Area (AfCFTA) agreement, as part of efforts to ensure its success. This, he believes will be critical in preventing tax evasion and aid in detecting…
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Dr. Atuahene attributes Fitch’s downgrade of banks to Ghana’s overall economic performance
Banking and corporate governance consultant, Dr. Richmond Atuahene, has attributed the downgrade of three domestic banks by Fitch Ratings agency to the overall economic performance of the country. He explains that the overdependence on government bonds and bills which has been underperforming for some time now has put them in this state. On August 22,…