Category: Top Stories
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We’ll ensure passage of e-levy by end of January – Adu Boahen
The Minister of State at the Ministry of Finance, Charles Adu Boahen, has assured that government will ensure the e-levy is passed in Parliament by the end of this month. Parliament adjourned sitting to January 25, 2022, without passing the controversial Electronic Transfer Levy of 1.75% which government hopes will rake in close to GH¢7…
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Tesah Capital dissociates itself from alleged ponzi scheme, Tizaa Ghana Fund
An investment management company, Tesah Capital Limited, has dissociated itself from an alleged Ponzi scheme known as Tizaa Ghana Fund. A publication by GhanaWeb about the alleged Ponzi scheme, Tizaa Ghana Fund, had the company’s logo in the background, an image captured at the recent launch of Tesah Capital’s Collective Investment Schemes. But a statement from Tesah Capital Limited…
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Decision to reverse benchmark value discounts must be data-based, not whims – Dr Ampaabeng
Tax Analyst, Dr Alex Ampaabeng, says the government’s final decision on the reversal of the discounts on the Benchmark Values Policy must thoroughly be data-driven rather than based on the fancies of the Ghana Union of Traders Associations (GUTA) and the Association of Ghana Industries (AGI). This, he argues, will save the government from revenue…
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Rice production: We can meet Ghana’s demand if gov’t intervenes – Millers Assoc.
The Rice Millers Association says with the right conditions, rice farmers would be able to produce more than 500,000 metric tonnes by the end of 2022. According to the Association, considering the current consumption rate, rice farmers are capable of meeting about half of the country’s demand with a projection of fully meeting the demand…
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Fuel price hikes: Gov’t urged to use windfall from oil export to cushion Ghanaians
As the price of Brent crude oil continues to surge on the international market, hitting US$86 per barrel as of January 17, 2021, the government is being urged to use the extra income it is making from selling Ghana’s oil to cushion Ghanaians at the pumps. In the 2022 budget, the government pegged a barrel…
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Fitch downgrade due to excessive borrowing to finance political promises – Analysts
Economic analysts have blamed the pressures of government’s many political promises for the country’s economic woes and the recent downgrade in Fitch’s ratings. According to them, the continuous borrowing to fulfill expensive social and infrastructural development needs had led the country to a place of severe indebtedness that it continues to struggle to service those…
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COCMAG kicks against fumigation levy on imported raw materials for producing cement
As the country continues to grapple with the continuous increase in cement prices, local cement manufacturers say efforts are being made to avert high production cost in a bid to reduce the price of the product. They, however, say the continuous existence of a fumigation levy (Ghana Health Service Disinfectant levy) on imported raw materials…
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Nestle temporarily withdraws Ideal & Carnation milk off the shelves
Following the public outburst over the content of some of Nestle Ghana’s milk products, the leading consumables manufacturer has decided to take all its Ideal evaporated milk and Carnation tea creamer off the shelves temporarily. According to a press statement released by the company, this move is part of efforts towards ensuring customers get the…
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New AGI President calls for affordable power, credit to drive industrial growth
Newly sworn-in President of the Association of Ghana Industries (AGI), Dr. Humphrey Ayim-Darke, has charged government to prioritise, among other things, efforts at reducing the cost of electricity and the cost of credit to Ghanaian businesses. According to him, the affordability of the two would help make Ghanaian businesses to be competitive in the era…
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GRA achieves 2021 revenue target with GH¢57.32bn; highest growth in 10 years
The Ghana Revenue Authority (GRA) has exceeded its 2021 tax collections target of GH₵57.06 billion. According to the Authority, it was able to collect 57.32 billion cedis, as against a target of ¢57.06 billion projected in the 2021 budget. A statement, issued by the Ghana Revenue Authority, indicates that the figure represents a growth rate…