Category: Top Stories
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Benchmark value reversal: Food and Beverages Ass. laments lack of stakeholder consultation
The Food and Beverages Association has lamented the lack of stakeholder consultation regarding the government’s decision to reverse the 50% benchmark value reduction policy on some 43 selected items. The Association, along with the Ghana Union of Traders Association, has warned that consumers will soon be paying more for basic commodities affected by the policy…
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![Telecom companies record long queues as Ghanaians rush to re-register SIM cards [Video]](https://citibusinessnews.com/wp-content/uploads/2022/01/long-queue-at-mtn.png)
Telecom companies record long queues as Ghanaians rush to re-register SIM cards [Video]
With less than three months to the deadline of the SIM card re-registration exercise, several branches of telecommunication companies across the country continue to record long queues as customers rush to re-register their SIM cards. A trip to various branches of MTN, Vodafone and AirtelTigo saw many Ghanaians frustrated at the huge numbers converged at…
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Importers call for a 2-week deferment of implementation of revised benchmark policy
The Importers and Exporters Association of Ghana is calling for a minimum of a 14-day deferment of the implementation of the reversal of the reduction in benchmark values policy, by the Ghana Revenue Authority (GRA). According to the GRA, implementation of the revised policy will now start on Thursday, the 6th of January, 2022, to…
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Insurance companies that fail to meet recapitalization deadline to be stopped from doing business
Insurance Companies that fail to meet the January 2022 recapitalization deadline will no longer be able to conduct business activities such as renewal of policies or advertisement of the business. This is according to the Commissioner of Insurance at the National Insurance Commission (NIC), Justice Ofori. The move follows a decision by the NIC to…
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SSNIT laments low number of NIA card merging by active members
The Social Security and National Insurance Trust (SSNIT) has revealed that very few people have merged their numbers with the Ghana Card. According to SSNIT, this phenomenon is due to the lagging NIA registration process. A day to the announced 31st December deadline for the exercise, only 1.1 million active contributors had merged their numbers.…
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Drivers unhappy with imminent fuel price increase
Commercial vehicle operators in the capital, Accra have raised concerns about an expected increase in fuel prices in the coming days. Already a major player in the Fuel retail space, Total, has adjusted its prices upwards with petrol now selling at GHS6.8 and diesel GHS6.85. This is an increase from an earlier price of GHS6.65…
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Take COVID-19 jabs to avert reintroduction of restrictions- TAGG urges traders
The Traders Advocacy Group Ghana (TAGG) is urging all players in the trading community to ensure they take the Covid-19 vaccines to curtail the spread of the virus. Ghana currently has over 12,000 active cases of the pandemic. It will be recalled that some restrictions including a lockdown were introduced as a preventive measure when…
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Benchmark policy reversal implementation issues to cause rift between agents and importers – IEAG
The Importers and Exporters Association of Ghana is warning of a rift between freight forwarders and their clients if the challenges with the implementation of the reversal of the reduction in benchmark values policy as witnessed yesterday continue. The government’s reversal of the 50% discount in the benchmark values of some imported goods and 30%…
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Freight forwarders kick against retrospective application of benchmark value reversal
Some freight forwarders are protesting over attempts by the government to retrospectively apply the restored benchmark value in the computation of duties at the ports. The government’s reversal of the 50% slash on duty on some imported goods and 30% reduction on cars is expected to take effect today, Tuesday, [January 4, 2022]. But some…
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Local poultry farmers optimistic industry will grow following reversal of benchmark policy
Following the government’s decision to implement the cancellation of the 50% Benchmark value reduction policy on some 43 selected items including poultry, the Greater Accra Poultry Farmers Association is confident, the policy measure will boost the local poultry industry. The growth of the Poultry Industry in the country over the period has suffered due to…