Category: News
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GRA intensifies education to increase tax collection in informal sector
The Ghana Revenue Authority has stated that it will intensify education to increase tax collection from the informal sector. The informal sector constitutes 70 per cent of the economy but just two per cent of them pay their taxes. The authority also revealed that their latest checks on tax payment showed that only 1.5 million of the expected six…
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Minority group in parliament unhappy about recent power outages
The Minority Spokesperson on Mines and Energy, Adam Mutawakilu has expressed concern about the recent wave of power outages across the country. Sections of Ghanaians especially on social media, have in the past week complained about the incessant power outages in their neighborhoods. Some have been questioning if the popular phenomena of load shedding locally called ‘Dumsor’…
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Sacked GCB workers threaten to go to CHRAJ
Some ex-workers of defunct UT and Capital Banks who were absorbed into GCB Bank, have threatened to go to the Commission on Human Rights and Administrative Justice (CHRAJ) to be reinstated after their contracts were terminated by the Bank. According to them, their layoff is inhumane and will negatively impact their livelihood as well as…
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IES urges Nana Addo to resolve GNPC CEO Board Chairman impasse
The Institute of Energy Security (IES) has urged President Akufo-Addo to step in and resolve disagreements between two leaders at the Ghana National Petroleum Corporation (GNPC). IES insists the turf war between the CEO and the Board Chairman of the company has the potency to fuel a weak front in Ghana’s negotiation with independent oil…
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Most banks require initial deposit to open a savings account
Data released by the Bank of Ghana has shown that you will need to make an initial deposit with most banks to open a savings account in Ghana. The data released in January this year shows that even though you will need no initial deposit to own a savings account you will be required by…
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Lack of bond guarantee hampering ECG takeover – IES
The Institute of Energy Security(IES) has stated that the delay in announcing the takeover of the Electricity Company of Ghana (ECG) by Power Distribution Services(PDS) is due to the latter’s refusal to provide a bond guarantee. The Millennium Development Authority (MiDA) announced in January that PDS was scheduled to take over ECG on February 1,…
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PIAC seeks info on physical infrastructural projects nationwide
The Public Interest Accountability Committee (PIAC) Secretariat has called on the Ministry of Finance and Economic Planning (MoFEP) to provide it with information on all physical infrastructural projects it intends to fund with petroleum revenue in the country in 2019. This, according to the PIAC, an independent statutory body mandated to promote transparency and accountability…
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GIPC signs MoU with German-African Business Association
The Ghana Investment Promotion Centre (GIPC) has signed a memorandum of understanding (MoU) with the German-African Business Association (Afrika-Verein) to co-operate with the objective of fostering bilateral trade and investment between Germany and Ghana. Both sides under the MoU will among other things, agree to regularly identify specific projects to be pushed and supported by…
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Drop in inflation a positive sign for economy
Economist Dr. Ebo Turkson has stated that the constant reduction in inflation rates is a positive sign of a stronger economy. Dr. Turkson maintains that inflation may trend down if government keeps key macroeconomic indicators stable. He argued that the country has some witnessed some relative economic stability which have been realized due to some…
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Yara Ghana Opens new Fertiliser Terminal and blending facility
As part of its commitment to the development of the agricultural sector in Ghana, Yara International ASA has invested over USD 15 million into a new fertilizer terminal and blending facility in Tema. This terminal, with a storage capacity of over 50,000 tonnes and blending and bagging production rate of over 100 tonnes per hour,…