Tag: Ghana Business News
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Final list for DKM payments to be released on Wednesday
The final list of validated customers of DKM Microfinance Company is to be released tomorrow (March 8, 2017) at the eight designated branches of GCB Bank. This is according to the Registrar General’s Department which is the Official Liquidator for DKM Microfinance. Customers who have investments below GHc10,000 will receive all their monies while those…
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Textile workers to protest over pirated products on Thursday
Local Textile workers will on Thursday (March 9, 2017) embark on a protest to express their displeasure over what they say is the Trade Ministry’s inability to stop the smuggling of pirated goods onto the local markets. According to the workers, the development has rendered local textile companies uncompetitive while they have also been compelled…
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Strict tax exemption rules not to affect FDIs
Some tax analysts have expressed strong reservations against assertions that government’s plan to cut down on its tax exemptions, will affect Foreign Direct Investments (FDIs) to Ghana. In the tax analysts’ view, the move should rather reduce the excessive losses due to the apparent abuse of some tax reliefs in the country. “This will not…
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McVities Ghana blames low sales on illegal imports
Snack food manufacturers, McVities Ghana, has made fresh appeals for government to bring to an end to the smuggling of sub-standard products into the country. The company blames recent low sales on the competition from the illegally imported products that are relatively cheaper. The call also follows complaints from wholesalers and retailers of McVities products…
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New GH¢5 note officially circulates today
The new 5 cedis note which was outdoored by the Bank of Ghana on Friday (March 3, 2017) will be circulated from today (Tuesday). The note which was released to mark the bank’s 60th anniversary has already been distributed across the country. The new 5 cedis note comes with a new pulsating shine when tilted. A…
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Analysts upbeat about boost in capital market’s growth
Players in the capital market have urged the government to expedite processes to get more multinationals to list on the Ghana Stock Exchange (GSE). They contend that a further delay will rip the country off the numerous benefits accruing from the move. As part of interventions to grow the capital market, the government has announced…
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Wobbling economy warranted high taxation –Terkper
Former Finance Minister, Seth Terkper has dismissed claims that he supervised an economy which focused on taxation at the expense of production. He explains that he cannot be blamed for what the NPP believes is the huge tax burden brought onto businesses. “…When the economy takes a hit, you would have to make sure that…
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Cedi depreciation threatens fuel price stability
The Institute of Energy Security (IES) is predicting a further increase in fuel prices in the first pricing window of March due to the constant depreciation of the cedi. The IES says the depreciation of the cedi is already threatening the stability of fuel prices. The Institute also believes the cedi played a part in…
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Gov’t to reduce critical expenditure over tax cuts – Terkper
Former Finance Minister, Seth Terkper, has cast doubts over the government’s ability to meet potential revenue deficits following some tax cuts. He argues that government will also be compelled to resort to cutting down on some critical expenditure to make up for the shortfall. “It appears that the Minister seems to have shifted the debate…
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New GHc5 note becomes legal tomorrow, circulation on March 7
The Bank of Ghana (BoG) has outdoored a commemorative GHc 5 bank note to celebrate its 60th anniversary, which coincides with Ghana’s 60th anniversary. The note, which comes with a new pulsating shine when tilted, has already been distributed across the country and will be circulated by next week Tuesday, March 7, 2017. Speaking during…