Category: News
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GRA resorts to prosecution as Tax Amnesty slows revenue
It has emerged that the Ghana Revenue Authority (GRA) was unsuccessful with its Tax Amnesty policy that it introduced to get taxpayers clear all outstanding arrears. The policy, introduced in 2018 became apparent after the Authority failed to meet its target for the previous year. But the GRA maintains it will prosecute all persons who…
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80% of mortgages patronized by resident Ghanaians
Contrary to popular belief that non-resident Ghanaians have a higher appetite for mortgages, statistics from Ghana’s leading mortgage financing bank, GHL Bank, reveal that most mortgage customers are Ghanaian locals. This demonstrates the growing interest and demand for mortgages by young professionals looking to own a home and proves that mortgages are not the preserve…
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SG Ghana targets 7 percent banking market share in short term
After meeting the minimum capital requirement of 400 million cedis, the Managing Director of Societe Generale(SG), Ghana Hakim Ouzzani has told Citi Business News the bank is aiming to increase its market share to 7 percent. This he says will enable the bank expand its operations in the Small and Medium Enterprise sector. Speaking to…
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NIC developing new system to check car insurance electronically
The National Insurance Commission (NIC) has indicated that it is developing a database that will allow motorists check the authenticity of insurance stickers instantly. This, according to the Commission, is to rid the system off fake insurance stickers which the organization says has become common on the market. “It is a system that the commission…
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We’re not mandated to list on stock market –Vodafone
Vodafone Ghana says it is not mandated to list on the Ghana Stock Exchange following the acquisition of the 4G license. The company in a statement stressed that the bid documents for the license nor the license condition do not make reference to listing on the bourse hence its decision. The comments is in response…
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GAT will strengthen local banks to compete—Prof. Bopkin
Economist, Professor Godfred Bokpin is confident the support from the Ghana Amalgamated Trust(GAT) for some five (5) undercapitalized banks in the country will boost local content in the banking sector. Government is expected to issue a 403 million dollar bond this month to support solvent and well governed indigenous banks under the Ghana Amalgamated Trust. While some stakeholders…
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Pharmacy Chamber seeks incentives for pharma-park
The Chamber of Pharmacy Ghana has made an appeal for the government to provide incentives for its new pharma-park. Among the requests are; one hundred percent income tax free status, duty free imports for building materials, amongst others. The aim of this project is to reduce imports of medicines substantially within the short to medium…
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Enterprise Group announces new appointments
Enterprise Group Limited is pleased to announce the reorganization of its business structures resulting in a number of new appointments, with effect from 2nd January, 2019. The new appointments are as follows: Kwame Ofori, who held the office of Executive Director of the General Business subsidiary, Enterprise Insurance from 2010 to 2018, will become Executive Director…
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Bosch, Unimech Auto partner to create more jobs
Unimech Auto and Bosch have join forces to create more employment for mechanical engineers in the country. Following the opening of a Bosch Car Service centre with Unimech Auto at Mantey Farms, near Frafraha in Accra, Managing Director of Unimech Auto, Bernice Bakura explained that the collaboration between them will require more experts to handle…
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CSOs must monitor activities of Upstream Petroleum Chamber—IES
The Institute of Energy Security (IES) has urged civil society groups to closely monitor the activities of the newly formed Upstream Petroleum Chamber. The formation of the chamber is to promote upstream oil and gas exploration in the country. Some of the companies that are part of the chamber include Tullow Oil Ghana, Kosmos Energy…