Category: News
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Govt to be strict on enforcing procurement law in 2019
the Finance Minister, Ken Ofori-Atta has stated that government will ensure efficient public spending in 2019 by enforcing the Public Procurement Act (PPA) Mr. Ofori-Atta explained that the PPA has the capacity and legal backing to assess all sole-sourced projects in the country. Sole sourcing of projects have over the years become a heated political…
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Turkish trade delegation to visit Ghana
Following renewed Turkish-Ghanaian commitments to boost bilateral trade, a Turkish electronics and electrical goods trade mission will arrive in Ghana in November for meetings with local buyers and distributors. Organized by the Turkish Electrical and Electronics Exporters’ Association (TET), the trade mission will showcase advanced Turkish white goods, electronics, all types of cables, lighting and…
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IMF was a necessary pill due to fiscal indiscipline acts by past gov’t
The Minister of Finance, Ken Ofori-Atta has described Ghana’s program with the International Monetary Fund as a necessary pill due to the previous government’s fiscal indiscipline practices. Speaking on the floor of parliament during the 2019 budget presentation the Finance Minister expressed gratitude to the IMF for the support as Ghana prepares to exit by…
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Gov’t to spend GH¢73.4bn in 2019
Government is planning to spend a total 73.4 billion cedis in the 2019 fiscal year. This is equal to 21.3 percent of GDP, representing a growth of 27.0 percent above the projected outturn for 2018. The Finance Minister Ken Ofori-Atta made the announcement in parliament today when he presented the 2019 budget themed a “Stronger…
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Culprits of 7 collapsed banks will be punished—Finance Minister
Finance Minister, Ken Ofori Atta has reiterated that will use all the legal processes available punish all persons found complicit in the collapse of some seven banks in the country. The Bank of Ghana has so far revoked the licenses of seven banks after investigations proved they were insolvent and illiquid. Presenting the 2019 Budget,…
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Gov’t targets GHS 58.9bn domestic revenue collection in 2019
The Minister of Finance, Ken Ofori-Atta has announced a revenue target of GHS 58.9 billion for the year 2019. The figure represents 17.1 percent of the rebased GDP which stands at 256.7 billion Ghana Cedis for 2017. Compared to the 2018 revised revenue and grants target of 50.68 billion Ghana Cedis, the 2019 target of 58.9 billion…
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80 percent of DKM customers paid—Ken Ofori-Atta
Finance Minister Ken Ofori-Atta has disclosed that government has paid 80 percent of DKM customers whose funds were locked up in the collapsed microfinance company. Mr. Ofori-Atta stated that government has set aside funds at the Bank of Ghana to settle all depositors upon validation. He made these remarks while presenting the 2019 budget in…
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BoG bans 125 persons from operating current accounts
The Bank of Ghana has blacklisted 125 persons for three years from operating current accounts with banks for consistently issuing DUD cheques. The central bank has however allowed the individuals to operate savings accounts. A statement from the Bank of Ghana to banks said “You are directed to debar or cease them from operating current…
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TUC proposes 15% reduction in utility tariffs
The Trades Union Congress (TUC), is proposing a 15 percent reduction in utility tariffs. It is urging the Public Utilities Regulatory Commission (PURC) to consider the proposal as it prepares for the 2019 tariff review. The TUC’s proposal sighted by citinewsroom.com among other things premised the proposal on the expectation of a reduction in fuel…
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Finance Minister presents budget today
The Finance Minister, Ken Ofori-Atta will today present the 2019 budget statement and financial policy of the government to Parliament. This will be the third budget of the Akufo-Addo administration, in accordance with Article 179 of the 1992 constitution. President Nana Akufo-Addo has said that the budget will bring hope to Ghanaians, amid times he…