Tag: Ghana Business News
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GCNet supports Ghana @60 with 250,000 cedis
The Ghana Community Network Services Limited (GCNet), has donated 250,000 cedis to the Planning Committee of the Ghana at 60 Years On. The contribution is geared at supporting the activities of the committee for the Independence celebrations. According to GCNet, the gesture is to demonstrate its patriotism and deepen its position as a leading public…
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Consumers unsatisfied with 2.5% reduction on petrol taxes
The Chamber of Petroleum Consumers (COPEC) has expressed dissatisfaction over the rate of reduction of the special petroleum levy. According to the chamber, the reduction is minimal and could have seen a 10 percent reduction instead. Finance Minister Ken Ofori Atta on Thursday announced a reduction in the special petroleum levy from 17.5 percent to…
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Gov’t predicts 6.5 percent budget deficit for 2017
Finance Minister Ken Ofori-Atta has projected the government’s budget deficit target at 6.5 percent. This represents 13.2 billion cedis of the difference between the government’s revenue expectations for 2017 compared to the expenditure targets for the period. Government’s total revenue target for 2017 is estimated at 44.9 billion cedis against a targeted expenditure of 58.1 billion…
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Scrap VAT on real estate, financial services, import levies, et al – Analyst
A tax consultant, Eric Amponsah Boateng has outlined four key taxes he wants the government to scrap in its first budget. They include the 5% VAT on real estate, import levy, fiscal stabilization levy and the 17.5% VAT on financial services. Speaking ahead of the presentation by Finance Minister Ken Ofori Atta this morning, Mr.…
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AirFrance launches Accra-Paris route; targets fresh produce exports
Air France has disclosed of its commitment to facilitate the swift export of fresh agricultural produce from Ghana to Europe in the short to medium term. It follows the commencement of the airline’s operations along the Accra-Paris route. The assurance also follows the impressive cargo patronage recorded by the airline in its inaugural flight from…
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Tax cuts, job creation top expectations of 2017 budget
Pending the budget presentation by the Finance Minister Ken Ofori Atta today, industry players and business associations have reiterated calls for the solutions to their numerous needs to be captured in the budget. The budget, the first for the NPP government, is expected to capture how the government intends to allocate its resources for the…
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No new CEO appointed yet – Gov’t replies GOIL
Government has dismissed reports that it has appointed a new CEO for Ghana Oil Company Limited (GOIL). The company had issued a statement reacting to reports that President Akufo Addo has appointed a new CEO for the company. GOIL rejected the reports explaining that the appointment could not have been done without recourse to laid…
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BoG builds customer confidence with new consumer complaints guidelines
Consumers of financial services will from henceforth be able to demand compliance from their respective institutions they transact business with. It follows the completion of the Consumer Recourse Mechanism Guidelines by the Bank of Ghana. The guidelines among others allow consumers to seek redress for complaints with the industry regulator in a timely and independent…
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First Black online market launched in UK
Black owned businesses across the world will henceforth have access to a wider market for their wares, especially in Europe. It follows the launch of the First UK Black Business Marketplace, called Densu Online. The lack of platforms for Black businesses in the UK has partly limited their exposure and prospects for expansion. But the…
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GNCC, Indian businesses strategize to boost Ghana’s exports
The Ghana National Chamber of Commerce (GNCC) has expressed its support for the Indian government and the Trade Promotion Council of India’s (TCPI) initiative of increasing trade relations. The initiative seeks to promote economic growth in Ghana through trade, employment generation and value addition to the country’s raw materials. The Head of Marketing, Trade and…