Category: Top Stories
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GUTA expresses dismay over Akufo-Addo’s assent of 3 new taxes
The Ghana Union of Traders Association (GUTA) has expressed dismay at President Nana Akufo-Addo for assenting into law the three new taxes passed by Parliament in March 2023. The union says government failed to engage GUTA on concerns it raised about the taxes when it petitioned the presidency and parliament. Information Minister, Kojo Oppong Nkrumah…
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World Bank commits $250m to Ghana Stability Fund to support financial sector
The Ghana Stability Fund, created to support financial institutions impacted by the Domestic Debt Exchange Programme, has received a commitment of $250 million from the World Bank, according to Finance Minister Ken Ofori-Atta. The donor funding is part of the $1.5 billion fund, with the remainder expected to come from the government. Mr. Ofori-Atta announced…
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GSS projects 4.3 million tourist arrivals in Ghana by 2027
The Ghana Statistical Service (GSS) is projecting that about 4.3 million individuals will arrive in the country by 2027 as tourist arrivals . This, the GSS believes, if properly optimized by industry players, will help boost the local economy. The Service maintains that is committed to helping the various ministries set clearer statistical targets which…
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Tourism sector can generate $1.5bn, numerous job opportunities – GSS
According to the Ghana Statistical Service, the government could generate approximately $1.5 billion by 2027 if it fully exploits the potential of the tourism industry. The Service further states that developing the sector could help address the issue of high youth unemployment by providing economic opportunities. At the launch of the 2023 Domestic and Outbound…
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Importers and Exporters disappointed in Akufo-Addo for assenting to 3 new taxes
The business community in the country has expressed anger over news that President Nana Akufo-Addo has assented to the new tax levies, despite resistance from them. The business groups made up of GUTA, AGI and the importers and exporters association petitioned the president on the matter after Parliament passed the revenue mobilization bills. They lament…
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Africa’s participation in 4th industrial revolution must be based on data, transparent systems – Bawumia
Vice President Dr. Mahamudu Bawumia has said one of the setups African countries face in their attempt to transform their economies is the lack of data and transparent systems. According to him, most countries in the African continent take decisions in the governance and management of their economies without any proper and consolidated data. This…
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Akufo-Addo has assented to the 3 new taxes – Oppong Nkrumah
President Nana Addo Dankwa Akufo-Addo has assented into law the three new taxes passed by Parliament in March 2023. This was confirmed by Information Minister, Kojo Oppong Nkrumah in an interview with Citi News. Parliament on Friday, March 31, passed the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill, 2022, the Ghana…
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BoG pushes for improvement in IMF’s lending framework to boost continent’s access to resources
The Bank of Ghana is advocating an upgrade in the lending framework of the International Monetary Fund. This, according to the Governor of the Central Bank, Dr. Ernest Addison, will go a long way to help boost African countries’ access to the Fund’s resources. Addressing the 2023 Africa Consultative Group meeting in Washington DC, Governor…
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Ghana’s fiscal outlook to reduce to 6.6% – Prof. Osei-Assibey
Economist and Statistician, Professor Eric Osei-Assibey has opined that the fiscal outlook of the local economy will reduce to about 6.6 percent in the coming months of the year 2023. He explains that this forecast could be achieved based on government’s fiscal consolidation measures put in place as it seeks a $3 billion IMF bailout…
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DBG assures of finance support for SMEs to boost economic growth
The Chief Executive Officer of the Development Bank Ghana (DBG), Kwamina Duker has indicated the bank is disbursing at least 600 million Ghana cedis in loans for on-lending to SMEs this year as part of efforts to resuscitate the economy. He maintains that the challenges confronting the local economy can be partly resolved if the…