Tag: AGI
-
AGI urges government to prevent any deliberate power plant shutdowns
The Association of Ghana Industries (AGI) has charged the government to deal decisively with issues that threaten the reliable supply of power to homes and industries in Ghana. The AGI’s reaction follows the threat from the Chamber of Independent Power Producers, Distributors and Bulk Consumers (CIPDIB), to shut down their power plants if the Ministry…
-
Industries won’t be affected by microfinance clean-up — AGI
The Association of Ghana Industries (AGI) says its members will not be affected by the closure of 347 microfinance companies in the country. The AGI insists the high-interest rates charged by microfinance institutions make it impossible for the businesses to borrow from them. “Getting money from the microfinance is not good for any industry. Most…
-
35 businesses tipped for stimulus package – President Akufo Addo
At least thirty-five [35] companies are expected to receive financial support under the government’s stimulus package program for businesses. The support should help the businesses revive and expand their operations as well as create jobs. The stimulus package forms part of the pillars on which the government intends to develop private businesses. Shortlisted businesses were…
-
Excise tax stamp: 1000 jobs could be lost over seized goods – AGI
The Association of Ghana Industries (AGI) has warned that over a thousand people in the beverages industry in Ghana could lose their jobs if the Ghana Revenue Authority (GRA) fails to remove compliance officers from the factories of its members and engage in further dialogue in relation to the tax stamp policy. According to the President…
-
Businesses, bankers push for drop in BoG’s policy rate
The Monetary Policy Committee (MPC) of the Bank of Ghana may take any decision but increase its policy rate for banks. These are the indications from businesses and banks ahead of the announcement of the policy rate later on Monday [September 24, 2018]. The MPC has since the beginning of the year reduced its policy…
-
Intravenous infusions seeks $5m stimulus package for expansion
A pharmaceutical products manufacturer, Intravenous infusions limited, is urging the swift release of the stimulus package to assist in its operations. The company is yet to receive the support after a year of applying for the funding. The company’s Managing Director, David Klutse is also hopeful of its expansion into other West African countries with…
-
Monitor stimulus package use to avoid ‘waste’ – AGI to govt
The Association of Ghana Industries (AGI) is demanding that the government comes clear on how it intends to account for the stimulus packages that it is offering to distressed companies. The AGI fears that the taxpayer risks losing hugely if beneficiaries are unable to account for their allocation. Meanwhile the AGI’s business barometer report has…
-
Lending rates to remain high despite drop in reference rate
Lending rates of commercial banks may not be declining anytime soon despite the change in the formula of calculating the lending rates of banks. That is the position of Economist, Professor Godfred Bokpin. His comments come despite a marginal reduction in the Bank of Ghana’s new reference rate for May. Meanwhile business associations have lauded…
-
Architects join call for local content law
The Ghana Institute of Architects (GIA) is pushing for the preparation and possible passage of a local content policy for the construction industry. They contend that the passing of the bill will guarantee their increasing involvement and active participation in Ghana’s construction industry. “There is a major action on what we call the local content…
-
AGI demands swift passage of local content law
The Association of Ghana Industries (AGI), is pushing for the speedy passage of a local content policy to address what they describe as the imbalances in the construction industry. A local content policy, the association says, is urgently required to increase the opportunities and incentives for local construction firms. The AGI believes this should help…