Tag: Ghana Business News
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No tax cuts for Abossey Okai spare parts traders
Traders of imported vehicle spare parts may not be enjoying the tax cuts on their wares anytime soon. At least this is the indication from the industry with the implementation of the scrapping of the 1 percent special import levy by the GRA. The businesses were tipped to benefit from the tax cuts to ease…
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Ghana to lose agric lands to galamsey – Agric workers
The General Agricultural Workers Union (GAWU) has cautioned that Ghana risks losing its agricultural lands in the near future due to increasing galamsey activities. According to GAWU, food production may drop massively if the issue of galamsey is not addressed immediately. The development has also caused some farmers to abandon their farm activities and relocate…
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Scrapped 1% special import levy takes full force
Effective Friday (March 31, 2017), importers of products affected by the 1 percent special import levy will no longer pay any of such charges. It comes on the back of the implementation of the tax cuts announced in the 2017 budget. A statement from the Ghana Revenue Authority (GRA) therefore directed the various customs and…
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Analysts predict buoyant performance on Ghana Stock Exchange
Stock market analysts are confident trading activities will bounce back in the second quarter following a pickup in trading activities on the local bourse. The 2017 first quarter performance indicate that the stock market gained about 10 percent growth compared to the negative 4.26 percent recorded in the same period last year. While investors of…
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World Bank backs review of AMERI deal
The World Bank has backed the government’s decision to review the AMERI power plant deal over concerns of generation capacity excesses. According to the Bank, Ghana’s current total electricity generation capacity is higher than the amount demanded. Speaking to Citi Business News, the Ghana Country Director of the World Bank, Henry Kerali also stated that…
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World Bank supports Ghana with $ 1.2bn credit
Ghana is to receive between 1.1 to 1.2 billion dollars in credit from the World Bank Group at least within the next three years. The facility forms part of the World Bank’s 75 billion dollars development assistance facility to countries across the globe. Ghana’s allocation is calculated out of the 50 billion dollars allocation to…
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Nestle promotes infant health with new Cerelac iron+
Nestle Ghana has launched its new product, Cerelac® with Iron+, with a primary focus on infant health especially after the exclusive breast feeding periods. The campaign for the new product is on the theme, “Complementary feeding in infants – the role of Iron”. According to researchers, the first one thousand days between a woman’s conception…
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‘My past will not affect my output’ – Dep. Trade Minister Designate
The Deputy Minister Designate for Trade and Industry, Robert Ahomka-Lindsay has pledged his utmost commitment to his new role to attain set targets. He has also assured Ghanaians of his readiness to face all possible challenges in his line of duty under the NPP administration. Mr. Lindsay gave the assurances during questioning by lawmakers on…
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Fuel prices to drop by 2 percent in April
The Institute for Energy Security (IES) has predicted a further drop of fuel prices by about 2% in the 1st pricing window of April. The Institute believes the drop could be attributed to the removal of Excise Levy and the review of the Special Petroleum tax which has been moved from 17.5% to 15% by…
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Tax free domestic air tickets likely to start tomorrow
Patrons of local airlines are expected to from Saturday, 1st April 2017, enjoy 17.5 percent slash on air tickets they purchase with the passage of the Appropriation Bill by Parliament. This is the indication from the Aviation Minister, Cecilia Abena Dapaah. The Bill which is expected to be passed today (Friday), will give approval to…