Category: Top Stories
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Africa’s internet economy to cross $180 billion by 2025: Report
Africa’s Internet economy has the potential to reach 5.2% of the continent’s gross domestic product (GDP) by 2025, contributing nearly $180 billion to its economy, according to a report from Google and the International Finance Corporation (IFC). The report titled e-Conomy Africa 2020, pointed out that the internet economy in Africa is bound to see exponential…
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Gov’t likely to scrap E-Levy if its revenue stays low – Tax analyst
As stakeholders express concern about the low level of revenue being generated from the Electronic Transfer Levy (E-Levy), a tax analyst is warning that government is likely to withdraw the tax measure if the revenue yields remain low. The implementation of the E-levy, which commenced in May, was originally expected to help bring in about…
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E-Levy is an overhyped revenue generation measure – Seth Terkper
Former Finance Minister, Seth Terkper has described the Electronic Transfer Levy (E-levy), as an overhyped revenue generation policy. According to him, many Ghanaians are now trying to find ways to avoid paying the levy. The E-levy, which was amended from 1.75 % to 1.5 % on Tuesday, March 29, 2022, is a tax that applies…
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Leverage crises to improve fortunes of continent – Ofosu-Dorte
Senior partner at AB and David law firm, David Ofosu-Dorte is admonishing African governments and businesses to leverage crises to improve the fortunes of the continent. According to him, this will make the continent more resilient and self-sufficient. Speaking at the Citi TV and ISSER’s Cedi Summit in Accra, David Ofosu-Dorte, noted that every crisis…
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African Finance Ministers tasked to allocate more resources into education sector
Finance Minister, Ken Ofori-Atta has admonished Finance ministers in other African countries to focus on allocating more resources or investments into their countries’ education sectors. This investment in education, according to him, will in the long term result in an increase in their countries’ GDP per capita. Mr. Ofori-Atta, was speaking during a regional ministerial…
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Unilever Ghana PLC remains upbeat about future growth prospects
Managing Director of Unilever Ghana PLC, George Owusu-Ansah, has stated that it is optimistic about his outfit’s growth prospects. This comes as the company recorded an increase in revenue of about 23% for the year 2021 despite the impact of the lingering COVID-19 on businesses. Taking its turn at the ‘Facts Behind The Figures’ forum,…
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Citi Business Festival enters final week; forum on agribusiness comes off today
The fifth and final edition of the 2022 Citi Business Festival forum comes off today, Tuesday, June 28, 2022. The discussion will be on the theme, ‘Rediscovering the agribusiness goldmine’, and will be live on Citi TV and on the station’s social media platforms. The forum, scheduled to start from 11:00 am to 1:00 pm, will…
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BoG must enforce regulations on informal forex trading – Prof. Quartey
Economics Professor and the Director of the Institute of Statistical, Social and Economic Research, Prof. Peter Quartey has bemoaned the seeming lack of action against persons engaged in the illegal trade of foreign exchange, especially the US Dollar, in different parts of the country. According to him, the informal foreign exchange market is contributing to…
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Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey
As part of efforts to address the various macro-economic challenges facing the Ghanaian economy in recent times, Director of the Institute of Statistical, Social and Economic Research, at the University of Ghana, Prof. Peter Quartey is calling for targeted fiscal policy and subsidy interventions. This comes on the back of the continuous fuel price hikes…
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Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable
The Head of FICC Research and Chief Economist at ABSA; Jeff Gable, says the consistent introduction of subsidies in the midst of global economic challenges will only prolong the effects of inflation in that country. According to him, governments in Africa must rather focus on slowing down demand for products rather than subsidizing the cost.…