Tag: Ghana Business News
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Complex land acquisition systems; the bane of estate developers
Industry players in Ghana’s housing sector want the government to critically address Ghana’s land acquisition and documentation system to ease the burden associated with the provision of decent accommodation. The estate developers contend that the high costs of properties have priced out the majority of prospective homeowners and compounded the housing challenge. Participants at Citi…
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Lower interest rate key concern for estate developers
Decent accommodation continues to be the biggest headache among many Ghanaians. As the housing deficit goes up, the debate continues whether Ghanaians prefer buying a mortgage house or build their own house looking at the cost, time and terms involved. Ahead of Citi FM’s Housing and Real Estate Forum on Tuesday, 27th June,2017, Citi Business…
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GTA initiates moves to reduce ‘numerous’ hospitality fees
The Ghana Tourism Authority (GTA) has bemoaned the numerous charges associated with operating tourist sites in the country. GTA argues that the high electricity tariff billed hoteliers in the country, coupled with high taxes among others is crippling the tourism industry. According to the Chief Executive Officer of the Ghana Tourism Authority, Akwesi Agyemang, the…
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Ghana woos Nigerian airlines into its domestic market
The Ministry of Aviation has indicated its readiness to allow competition into Ghana’s domestic air travel space in the short to medium term. The Ministry believes the move should contribute to Ghana’s competitiveness and make the country an attractive aviation hub within the sub-region. According to the Deputy Minister of Aviation, Kwabena Okyere Darko, attempts…
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Revelers demand tough security at tourist sites
Players in the tourism industry have asked for government to intensify security measures at various hotels and tourist sites in the country. The call comes on the back of accidents and injuries at some tourist cites in Ghana and across the sub-region. In addition, the industry watchers have warned of possible terrorist attacks and crime rates…
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LeapFrog acquires minority stake in Enterprise Group
Black Star Holding Limited (BSHL), a wholly owned subsidiary of LeapFrog Strategic African Investment (LSAI), has acquired the minority shareholder in three subsidiaries of Enterprise Group. The three subsidiaries are Enterprise Life, Enterprise Insurance and Enterprise Trustees. BSHL takes over the ownership which hitherto belonged to Sanlam Emerging Market Proprietary Limited of South Africa (Sanlam). Per…
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Mergers & Acquisitions: potential haven for tax evasion – Analyst
The Ghana Revenue Authority (GRA) has been impressed upon to re-examine the various mergers and acquisitions that have been completed in the country to reconcile potential revenue losses due to tax evasion. This is the suggestion from Tax Analyst, Mr. Abdallah Ali Nakyea. According to him, such commercial activities have been cited as a major…
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Strict tax laws to avert revenue loss over illicit financial flow
Tax Analyst, Abdallah Ali Nakyea is pushing for a critical review of Ghana’s tax regime to reduce the massive economic losses due to illicit financial flows. He argues that though the canker is depriving the country of huge revenue, a stricter implementation of the existing laws should prevent any further losses. The Global Financial Integrity…
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Port Infrastructure Dev’t Fund Committee inaugurated
The Acting Director General of the Ghana Ports and Harbours Authority (GPHA), Paul Asare Ansah has inaugurated a nine member committee to develop modalities for the Port Infrastructure Development Fund in Tema. Inaugurating the committee which has a six month period to finish its work, Mr. Ansah charged the committee to give off its best…
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BOST defends sale of ‘contaminated’ fuel to oil company
The Bulk Oil Storage and Transportation Company (BOST) has defended its decision to sell off contaminated or off-spec product to oil company, Movenpiina. Documents sighted by Citi Business News indicate that BOST has agreed to sell 5 million litres of the product to the company at a cost of 1 cedi per litre. This is…