Tag: AGI
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Analysts criticize extension of fiscal stabilization levy
Tax analysts have criticized government for not scrapping the National Fiscal Stabilization Levy in the 2018 budget. They describe the continuous imposition of the tax as disappointing. For instance a Partner with Pricewaterhouse Coopers (PwC), Ayesha Bedwei believes the move rather punishes some compliant taxpayers. The National Fiscal Stabilisation Levy (NFSL), introduced in 2013, was…
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Tropical Cable wins top AGI award
Locally owned Tropical Cables and Conductors limited has been adjudged as the overall best industrial company for 2016. The company picked the ultimate award after beating off competition from over thirty other industries. In addition, Tropical Cable and conductors picked the award for the best company in electricals and electronics. Pharmaceutical company, Dannex picked two…
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2018 budget to set motion for tariff review
Businesses should expect to see an adjustment in their cost of electricity at least beginning in 2018. It follows government’s plans to review the current tariff system for industries. President Akufo Addo who disclosed this says the Finance Minister, Ken Ofori Atta would announce details of this when he presents the 2018 budget to Parliament…
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Cedi stability drives mortgage rates down by 40%
Businesses want government to sustain efforts geared at stabilizing the cedi to foster growth. Following what they say is the relative stability of the local currency, the businesses fear they will be worse off should the minimal gains be eroded. A cross section of businesses that Citi Business News has been engaging in a review…
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Small businesses dominate industry sector – AGI report
Ghana’s industrial subsector is still dominated by small size businesses. The development is also viewed as impacting on their employment prospects and their overall impact on the economy. The latest Business Barometer report by the Association of Ghana Industries (AGI) however suggests that the businesses could improve their impact when given the needed support. Of…
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GUTA’s support for 3% VAT compromising – Importers
Business Associations protesting the implementation of the 3% VAT Flat rate scheme are skeptical of a positive outcome for the appeals to get the tax scrapped. They contend that the apparent support by the Ghana Union Traders Association (GUTA) for the VAT could limit the chances of getting their grievances addressed. Business Associations comprising the…
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Make farmers part owners of agric factories – Industry
Players in the agric sector have called on government to make farmers shareholders of some of the factories that will be established through the one district, one factory initiative. This they believe will sustain the factories and ensure inclusiveness for all stake holders. “In order for the factories to be sustained, the farmers must be…
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Businesses want stimulus package released by midyear
Private sector businesses have impressed on the government to make its stimulus package for businesses, available by the end of June this year. Among the numerous interventions by the NPP government to make local businesses more competitive, is the provision of financial support to some distressed businesses in the private sector. But the businesses are…
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Industry demands low interest rates, stable cedi after 100 days
Businesses are impressing on the government to pursue economic policies that will sustain growth and create employment in the country. They argue that the eventual drop in interest rates and a stable currency should ease the cost of doing business and allow private sector growth. The comments come on the back of the assessment by…
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Industry upbeat about a drop in policy rate
Industry players are upbeat about a possible reduction in the policy rate to be announced by the Bank of Ghana later today. Their hopes are largely built on the declining inflation as well as drop in interest rates on the Treasury bill market. Already, some Economists say the pro-business agenda of the NPP government should…