Category: News
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Ghana Beyond Aid hinges on a broad tax base
Ahead of the 2019 budget reading on November 15, President Nana Addo Dankwa Akufo–Addo has hinted that his government will continue to implement tax measures to broaden the tax base in the country. Speaking on a panel discussion at the 2018 Africa Investment Forum in South Africa, President Akufo–Addo bemoaned the low number of tax payers in…
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Finance Ministry approves new allowances for boards, councils
The Finance Ministry has approved a reviewed sitting allowance scheme for boards, councils, and other bodies within the public sector. The sitting allowances on boards and councils will range from GHc2,500 per chairman per sitting to GHc1, 200 depending on the category of the committee; while a member earns GHc2,100 and GHc1,000 also depending on the…
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Gov’t facilitating private sector growth – Akufo-Addo
President Nana Addo Dankwa Akufo-Addo has said his Government does not see itself as a competitor to the private sector, but as a facilitator for the private sector in the growth and development of the country. “The role of government, in our view, is to be a facilitator for the development of the private sector,…
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BPA to meet winners of ECG concession deal on debt clearance
The CEO of the Bui Power Authority (BPA) Fred Oware has revealed that the authority will next week hold talks with Meralco Consortium, the winners of the ECG concession, for a new contract that will ensure that the Bui Power Authority gets paid regularly for the power it supplies to ECG. Currently, ECG owes Bui…
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AfDB to approve $600m loan for COCOBOD
The African Development Bank (AfDB) is close to approving a $600 million loan package for COCOBOD, a Reuters report has said. The funds will allow COCOBOD to build warehouses to stockpile beans and protect itself against price falls, AfDB president, Akinwuni Adesina said. Mr. Adesina explained that the financing would support initiatives planned by Ghana…
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Base Mapping survey to address multiple land sales—Dr. Bawumia
Government has begun a base mapping survey to address the poor land management system in the country. When completed, the survey will provide background information and details on all lands, including owners and litigants to prospective buyers. The last time such an exercise was conducted in the country was in 1974, over four decades ago.…
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Gov’t approves GOIL as partner for Exxon Mobil oil deal
Minister for Energy John Peter Amewu has announced that government has approved state owned Oil Marketing Company, GOIL as the minority partner for the Exxon Mobil deepwater offshore oil field. Mr. Amewu disclosed that government has“been notified by Exxon of their choice” and the Ministry of Energy has approved of the deal. He stated that…
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GCB Bank investigates unapproved withdrawal of customers monies
GCB Bank has begun investigations into circumstances under which monies were withdrawn from customers accounts by some unknown persons. Some customers of the bank have been complaining that unspecified amounts were withdrawn from their accounts without their authorization over the weekend. The incident is said to have occurred on Friday, when some customers randomly received…
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Consolidated Bank Ghana records five fraud cases
The Consolidated Bank Ghana(CBG) limited has recorded five cases of fraud within its first three months of operation. Management of the bank disclosed this when it met workers of the bank at a town hall meeting in Accra, last Saturday. According to the management, the culprits who were workers of the bank withdrew money from…
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ABL, Kasapreko to lose operational licenses for breaching Tax Stamp laws
Accra Brewery Limited (ABL) and Kasapreko Company Limited risk losing their operational licenses after it emerged that the companies were fixing tax stamps illegally on their products. For ABL, they were transferring tax stamps meant for its current production to its warehouses. By this, the company was requesting for more tax stamps and affixing them…