Category: News
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BoG to circulate upgraded cedi today
The Bank of Ghana (BoG) will today begin the circulation of its enhanced GHS10, GHS20 and GHS50 notes. According to the Bank of Ghana, both the old and the new notes will be used concurrently until the old ones are phased out. New features on the new notes include a gold stripe, a watermark, a…
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Mobile money fraud: Police, telcos seek review of prosecution process
The Cyber Crime Unit of the Ghana Police Service is advocating a possible review of the current process in investigating and prosecuting fraud cases in mobile money transactions. The security agency believes the current procedure could partly be blamed for the seeming lack of interest for victims to report instances of fraud hence increase in…
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Contaminated fuel saga: Let Movenpina pay for 471,000 litres it lifted without payment – C’ttee to BOST
The committee set up to investigate the loss of off-specification petroleum products (off-spec) belonging to the Bulk Oil Storage and Transportation Company Limited (BOST) has come out with its report recommending punishment for the companies at the centre of the issue. The Committee chaired by Senyo Hosi, Chief Executive Officer of the Chamber of Bulk…
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Investigate GHS1.5 million revenue loss — Committee to BOST
The committee set up to investigate the loss of off-specification petroleum products (off-spec) has urged the Bulk Oil Storage and Transportation Company Limited (BOST) to investigate the sale of contaminated fuel between 2014 and 2017 to ensure clean products were not deliberately downgraded as contaminated and sold at a loss to BOST and the Ghana…
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Parliament approves tax waiver for 1D1F
Parliament has approved an incentive package and tax waivers for the one district one factory policy despite opposition from the Minority. The package waives taxes on machinery and equipment for operators under the policy and includes corporate tax exemption for five years. The Minority’s main argument against the package is that no amount is mentioned…
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Pensions regulator to ensure about 11m informal sector workers have pension schemes — CEO
The National Pensions Regulatory Authority (NPRA) has said that it is working on new policies to ensure that the more than 10 million workers in the informal sector are able to access a pension scheme. The current three-tier pension system does not favour the informal sector in that most workers do not have a regular…
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UNICOF calls for calm as it engages First Atlantic Bank management
The Union of Industry, Commerce & Finance Workers (UNICOF), has begun talks with management of First Atlantic Bank over the layoff of 100 workers. According to the Union, the layoffs will worsen the plight of the affected workers. Speaking about the situation, the Deputy General Secretary of UNICOF, Michael Biney urged the affected workers to…
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ARP Apex Bank makes financial improvement in 2018
ARB Apex Bank, the ‘mini’ Central Bank of the 144 Rural and Community Banks has announced that the bank recorded improvements in most of the important financial indicators in 2018. The bank disclosed this at its Annual General Meeting organized in Ho in the Volta Region. According to the financial statement of the bank, it…
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GCNet deploys Trade Facilitation Platform to boost revenue mobilisation
The Ghana Community Network Services Limited (GCNet), a public-private partnership, has deployed an upgraded version of its end to end smart clearance system for stakeholders to boost domestic revenue collection. The upgraded (Trade Facilitation Platform – TFP) is also designed to enhance user experience and improve the ease of doing business. The TFP, an integrated…
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PIAC commends increase in oil cash invested in agriculture
The Public Interest and Accountability Committee (PIAC) has commended government for increasing the amount of oil revenue invested in the agricultural sector last year. In 2018, more than GH¢251 million was invested in the agricultural sector which represents more than 61 percent increase in the allocation made to the sector in 2017 when government invested…