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Mixed reactions meet taxes on luxury vehicles (Audio)


Car owners and importers of vehicles in the country are divided on the possible introduction of a customs tax on luxury vehicles. The Minority in Parliament earlier this week launched a scathing attack on the Akufo Addo administration describing it as an insensitive government, for planning to introduce new taxes and increase existing ones, including a 10 percent tax on ...

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Finance Minister presents Mid Year Budget Review today

Finance Minister, Ken Ofori-Atta

As Ghanaians prepare to listen to the Finance Minister later this morning on the Mid Year Budget Review, one major sector that observers are looking out for is how the numerous agricultural initiatives announced in the 2018 budget are faring so far. According to government, it introduced these projects in the 2018 budget to improve food security and promote sustainable ...

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PURC maintains utility tariffs for 3rd quarter


The Public Utility Regulatory Commission (PURC) has maintained the electricity and water tariffs for the third quarter of this year [2018]. This means that between July and September this year, consumers will pay the same tariffs for electricity and water they purchase. A statement from the PURC to Citi Business News said it decided not to adjust electricity tariffs despite ...

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Ghana to locally produce first electric car by end of 2018

Speaking to Citi Business News after Tropical Cable and Conductor Limited acquired one of the vehicles of Kantanka Automobile, the General Manager of Kantanka, Francis Kudjordjie was optimistic the electric vehicle will reduce the use of fuel in Ghana when outdoored.

Ghana could see its first electric car, locally produced in the country as automobile company, Kantanka Automobile prepares to test its electric power-driven car by end of 2018. According to company, the move is aimed at leapfrogging its operations in the industry, to be competitive and profitable. Speaking to Citi Business News after Tropical Cable and Conductor Limited acquired one ...

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We’ll not tolerate delays in evicting foreigners from retail market


The Ghana Union of Traders Association (GUTA) has warned that it will not tolerate delays from government in evicting foreigners from Ghana’s retail market. The warning follows a recent announcement by the Ministry of Trade and Industry to evict all foreign retailers from the local retail centers by the 27th of this month. Ghanaian traders have on numerous occasions lamented ...

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VAT will not be increased in Mid-Year Budget Review

Ken Ofori Atta - Finance Minister

Citi Business News can confirm that government will not increase the Value Added Tax (VAT) in the Mid-Year Budget Review, contrary to earlier reports that government was going to announce an increase in the rate for VAT. The Minority in Parliament earlier this week launched a scathing attack on the Akufo Addo administration, describing it as an insensitive government, for ...

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Mid-Year Budget Review must show how job initiatives are doing

Finance Minister, Ken Ofori-Atta

As Finance Minister, Ken Ofori-Atta prepares to present the Mid-Year Budget Review tomorrow. Mr. Ofori-Atta is expected to among other issues show, how government is performing so far in its initiatives aimed at creating jobs. In presenting the 2018 Budget earlier, the Finance Minister said the Youth Employment Agency will increase its enrolment levels from about 62,000 to 120,000 this ...

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BoG committee assesses Ghana’s economy from today

bog microfinance

The Monetary Policy Committee (MPC) of the Bank of Ghana will today (Wednesday) start its quarterly meetings to review the health of the economy. The committee will also assess the impact of major economic policies introduced by the central bank to stabilize the economy. On top of the agenda are likely to be the depreciation of the cedi, the marginal ...

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Business  associations call for suspension of Cargo Tracking Note


Business associations in the country have called for the immediate suspension of the Cargo Tracking Note (CTN) system. The system, which took effect on the 1st of July was introduced by government to track all imports to Ghana to reduce revenue losses associated with under declaration of goods at the ports. The business associations however say the system was implemented ...

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