Tag: Ghana Business News
-
Finance Ministry defends new tax exemption rules
Despite the increased number of concerns for government to restructure the tax exemption directive for importers, Deputy Finance Minister, Kwaku Kwarteng has stressed that his outfit will not revert the decision of implementing the move. According to him, the reversal will only bring back the numerous illegal acts at the ports. Importers and exporters called…
-
15 year energy bond timely for banks’ rising NPLs – CAL Bank MD
Banks are optimistic of significant improvement in their non-performing loan portfolios as government initiates moves to clear all outstanding debts owed them. The assurance comes on the back of government’s plan to raise bonds to clear the debts owed in the energy sector. The Vice President, Dr. Bawumia at a meeting in Washington last week…
-
Deadline for 26,000 ‘ghost workers’ extended by three days
The Ministry of Finance has extended the deadline for some 26,000 public workers who were likely to miss their salaries for this month, to May 3, 2017. It follows appeals by the affected workers for an extension of the implementation date to allow them go through the biometric registration by the Social Security and National…
-
Protecting intellectual property: RGD adopts global standards
The Registrar General’s Department is anticipating the full implementation of laws on intellectual property as it re-sensitizes individuals and organizations on global standards of protecting one’s intellectual property. The sensitization forms part of Ghana’s participation in the World intellectual property day which was marked on Wednesday, April 26, 2017. It also forms part of moves by…
-
Entrepreneurs welcome tax free holiday plan for startups
Private enterprises have lauded the tax free holiday policy for startups effective this July. Business Development Minister, Mohammed Ibrahim Awal explains that the move forms part plans to reduce the cost of doing business in Ghana and encourage private sector development. The NPP government has already abolished some eight taxes and reviewed four others in…
-
GH¢1.14 bn needed to restore galamsey affected lands in Western region
It will cost Ghana at least GH¢1.4 billion to restore about fifty percent of lands affected by illegal mining activities in the Western region. This is the suggestion from some environmental analysts. The attention by policy makers have intensified recently following the alarming rate of the devastating impacts of illegal mining activities on the environment.…
-
BoG backs laws to demand data on gold exports
The Bank of Ghana (BoG) has backed moves for laws to compel the Minerals Commission to submit data on export proceeds from gold to guide the tracking of export receipts. The central bank believes this will prevent possible instances of under-invoicing by some gold exporters. The comment also follows concerns raised by some members of…
-
Encroachers pose no direct risk to gas supply – WAPCo
The West African Gas Pipeline Company (WAPCo) has assured of continuous flow and supply of gas despite heavy encroachment on its lands. The company has bemoaned the unregulated takeover of lands close to its pipelines especially in Tema in the Greater Accra region. According to the company, the move poses great risk to both life…
-
26,000 ‘ghost workers’ must be given more time – Austin Gammey
Labour Analyst, Austin Gammey has advised the over 26,000 workers likely to miss their April salaries to negotiate for an extension of the implementation date of the policy. The workers’ plight follows a directive from the Finance Ministry for the Controller and Accountant General to halt the payment of salaries as the workers failed to…
-
Stopping dollar auction: Currency analysts demand stable FX market
Currency analysts are impressing on the Bank of Ghana to intensify its efforts to stabilize the forex market and help forecasting in the market. It follows the central bank’s decision to halt the auction of dollars to banks in a bid to address the depreciation of the cedi. Governor of the Bank of Ghana Dr.…