Tag: Ghana Business News
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Solving Ghana’s land crisis: World Bank gives $35m support
The World Bank has approved a $35 million International Development Association (IDA) to support the Government of Ghana’s efforts in improving services and efficiency at the Lands Commission. This is an additional funding to the second phase of the Ghana Land Administration project (LAP2). It will help improve the effectiveness of the Customary Land Secretariats…
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Ambitious 2019 revenue less achievable – IFS
The Institute of Fiscal Studies (IFS) has expressed fears over the government’s ability to meet its revenue projection for next year [2019]. The think tank argues that the government will have to work to attract a lot more people to pay taxes if it is to meet the set targets. The concerns raised by the…
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Aviation Ministry reviews cost of aviation fuel
The Minister of Aviation, Joseph Kofi Adda has disclosed to Citi Business News his outfit is reviewing the cost of aviation fuel in Ghana as it works to ease the cost of doing business for airline operators. The outcome of the review is expected to be forwarded to the Finance Ministry for further action which…
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Govt to revamp abandoned affordable houses at $51m
Government has secured funding to tune of 51 million dollars which is to help it revamp all abandoned affordable housing units in the country. About two thousand housing units are expected to be revamped for them to be occupied. According to Works and Housing Minister, Samuel Atta Akyea, the move will commence with those started…
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SEC stops guaranteed returns in capital market
The Securities and Exchange Commission (SEC) has asked all Fund Managers to stop offering guaranteed returns on investment to their clients. The directive which has been in effect since July, is among the numerous interventions to sanitise the industry and protect the integrity of the capital market. The Director General of the SEC, Daniel Ogbarmey…
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GCB expands international operations
GCB Bank Limited has stated that it is expanding its operations to other countries. The Deputy Managing Director of the Bank in charge of Operations, Mr Samuel Amankwah who disclosed this said: “As a forerunner, GCB is establishing and deepening correspondent banking relationship with Sierra Leone and Liberia in West Africa.” In 2017, GCB Bank…
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Investment market to get new cyber security laws
The Securities and Exchange Commission (SEC) has told Citi Business News it will within the coming months, issue new directives that will deal with cyber fraud cases within the investment market. The Director General of the SEC, Daniel Ogbarmey Tetteh explains that the exercise is to reduce the amount of money lost to the crime…
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Use 2019 budget to boost tax revenue – IFS to gov’t
Executive Director of the Institute for Fiscal Studies, Professor Newman Kwadwo Kusi has advised government to review the tax systems in the upcoming budget in order for government to realize more revenue for the country. The budget has been scheduled to be read on the 15th of November, 2018. Professor Kusi argues that the move…
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Dr. Amin Adam leads Ghana’s transparency drive in extractive sector
The Minister of Finance, Ken Ofori Atta, has appointed Deputy Minister of Energy, Dr. Mohammed Amin Adam has been appointed as Ghana’s Champion for Extractive Industries Transparency Initiative (GHEITI). He is to lead the implementation of the EITI in Ghana. The appointment of Dr. Mohammed Amin Adam is in fulfillment of requirements of the Extractive…
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NPA stops over 90% of fuel diversions
The National Petroleum Authority (NPA) has disclosed that it has curbed over ninety percent of illegal diversion of fuel over the past one year. As a result, petroleum product exports to neighbouring countries have reduced from 30 to two million litres between August last year and the same period this year [2018]. The CEO of…