Category: Top Stories
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E-levy still failing, government must scrap policy – Dr Ampaabeng
Despite the recent announcement of an increase in the revenues generated from the Electronic Transfer Levy, Tax analyst, Dr Alex Ampaabeng is of the view that the policy ought to be reviewed or scrapped entirely. He stated that “E-levy as it stands, I would say it has failed and it’s got to the point where…
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Ghana wins ICAO council seat
Ghana’s Permanent representative to the International Civil Aviation Organization (ICAO) Mrs Anita Adjei Nmashie will represent Ghana on the ICAO Council for a three-year term, following Ghana’s election to the ICAO Council. The election which took place at the ongoing 41st ICAO Triennial Assembly in Montreal, Canada saw Ghana receive overwhelming majority votes from the…
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Fintech players laud BOG’s caution to MoMo loan, defaulters
Players in the fintech space have praised the announcement by the Bank of Ghana that defaulters of Momo loans stand the risk of being denied access to future credit facilities adding that it would help enhance Ghana’s credit system. Speaking to Citi Business News on the sidelines of the launch of the Qore ID Chief…
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Cocoa price goes up by 21%; now GH¢800 per bag
Government has pegged the producer price for cocoa at GH¢800 per bag of 64kg. The new price takes effect from Friday, October 14, 2022, for the 2022-2023 crop season. This depicts a 21 percent increase from GH¢10,560 per tonne to GH¢12,800 per tonne. Minister for Food and Agriculture, Dr. Owusu Afriyie Akoto made the announcement…
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Importers hint at possible shortage of goods
The Importers and Exporters Association of Ghana has hinted at a possible shortage of goods on the market in the last quarter of the year. The association says this is based on a spike in import duties and taxes at the port in the past week following an upward adjustment in the exchange rate used…
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Cedi depreciation likely to slow down – Dr. Patrick Asuming
The current rate of the Cedi’s depreciation is likely to slow down, if government is able to conclude its negotiations with IMF on time, as well as introduce effective policies in the upcoming 2023 budget reading next month. This is according to Economist Dr Patrick Asuming. A latest Bloomberg report has ranked the Ghana cedi…
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Akufo-Addo directs SIGA to probe SOEs cited in Auditor-General’s report
President Nana Addo Dankwa Akufo-Addo has directed the State Interest and Governance Authority (SIGA) to investigate the circumstances under which some state agencies were cited for infractions in the 2021 Auditor-General’s report. The President says SIGA must present its report to the Chief of Staff within four weeks. The President was speaking at a meeting…
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Moody’s downgrades Ghana’s rating from Caa1 to Caa2
Rating agency, Moody’s has downgraded Ghana’s long-term issuer and senior unsecured debt ratings from Caa1 to Caa2 and placed the ratings on review for downgrade. Moody’s, in February this year, downgraded Ghana from B3 to Caa1. The agency contends that the further downgrade stems from the government’s decision to seek support from the International Monetary…
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EU not banning Ghana’s cocoa – EU Ambassador to Ghana
The European Union has dismissed claims of a ban of Ghana’s cocoa on the international markets. The Information Minister, Kojo Oppong Nkrumah, is said to have warned that Ghana could soon be unable to export cocoa and coffee to Europe due to new legislation. The law mandates European countries to formulate regulations that ensure that…
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