Tag: AGI
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Don’t backtrack on reversal of benchmark value discounts – AGI urges gov’t
The Association of Ghana Industries (AGI) is urging the government not to relent in its goal of implementing the reversal of the reduction in benchmark values policy introduced in 2019. The remark follows President Nana Akufo-Addo’s directive to the Ghana Revenue Authority (GRA) to suspend the planned implementation of the policy reversal, for further consultations.…
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Local industries will die if not protected from inferior imports – Prof. Dodoo
As the debate on the benchmark value reduction policy continues, the Ghana Standards Authority has added its voice to calls for the protection of local industries. According to the Director-General of the Authority Prof Alex Dodoo, local industries will die if they are left to compete unfairly with cheaper sub-standard imports. He made the remarks…
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GUTA cautions of ‘intense protests’ if benchmark value policy is reversed
The Ghana Union of Traders Associations (GUTA) is warning of intense protests if the government goes ahead with plans to reverse the benchmark value reduction policy. Over a week after the Finance Minister proposed the reversal of the benchmark reduction policy in the 2022 budget, different stakeholders have defended or spoken against the move. In…
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Adopt good governance structures to benefit from various interventions – AGI to members
Mr. Seth Twum Akwaboah, the Chief Executive Officer of the Association of Ghana Industry (AGI), has called on members to develop proper governance structures to enable them benefit from the various interventions the Association was offering. He said some members had lost out on many international agency programmes for development and even national programmes because…
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We’re hoping for survival of Ghana’s new Development Bank – AGI
President of the Association of Ghana Industries (AGI), Dr Yaw Adu Gyamfi has expressed confidence in the sustainability of Ghana’s development bank. According to him, the development bank will serve as a panacea for addressing long term financing challenges experienced by local industries. The Government of Ghana in partnership with the European Investment Bank, and…
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ADB, NIB to be refocused to remain relevant – Ofori-Atta
The Minister of Finance, Ken Ofori-Atta says the fundamental objectives of special-purpose banks such as the NIB and ADB would have to be reviewed to help them secure the necessary capital so they can give out long-term funds as the government makes moves to establish a development bank. The Government of Ghana, in partnership with…
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GUTA cautions against reversal of 50% reduction in benchmark values
The Ghana Union of Traders Association (GUTA), is cautioning government against any attempt to reverse the 50% reduction in benchmark values. The warning, according to GUTA, follows attempts by the Association of Ghana Industries (AGI) to get government to cancel it. Benchmark values are reference values that Customs uses in determining taxes and duties on…
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Focus on nuclear energy to reduce cost of electricity – AGI to government
The Association of Ghana Industries says Government ought to focus on nuclear energy to significantly reduce the cost of electricity in the country. Presently power in the country is being sold at about 17 cents per kilowatt-hour as compared to about 8 cents per kilowatt hour with Nuclear energy. Nuclear power plants are however expensive…
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AGI troubled with rising COVID-19 cases and implications on demand of goods
The Association of Ghana Industries (AGI) says the business community is concerned about a possible slowdown in demand for their goods and services if the disturbing situation with COVID-19 in the country is not managed effectively. Between May and June of last year, at the height of the Coronavirus pandemic, the Ghana Statistical Service (GSS),…
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![New year greetings from Greater Accra chapter of AGI [Article]](https://citibusinessnews.com/wp-content/uploads/2021/01/Tsonam-Cleanse-Akpeloo-56.jpg)
New year greetings from Greater Accra chapter of AGI [Article]
Last year, the global Covid-19 pandemic had an adverse impact on economies and businesses. The pandemic took toll on lives. Many businesses had to make significant adjustments to remain operational or become competitive. The global economy has not recovered enough from the shocks of the virus and now that a new variant of the virus…