Tag: Ghana Business News
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Databank dissociates itself from investment website ‘INVEST-XD’
Investment company, Databank, has warned the general public against investing with a website, INVEST-XD. Managers of the INVEST-XD website, are allegedly encouraging the public to invest with them in Databank’s products such as Databank MFund, claiming it has a partnership with the investment firm. But in a statement copied to Citi Business News, Databank said…
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Fuel prices to remain unchanged in October
Fuel prices are to remain stable for the first pricing window of October [spanning October 1-15, 2018]. This is a prediction by the Institute of Energy Security (IES). The IES attributes the findings to various indicators such as the cedi’s performance and marginal increase in the price of Brent crude. Prices of fuel went up…
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Avoid hasty tax policies with rebased economy – Economist
Economist, Dr. Lord Mensah has called for a count by count assessment of all sectors of the economy before undertaking any tax reform following the rebasing of the economy. According to him, such a move will make up for the shortfall in revenue generation. The Ghana Statistical Service recently announced that the economy had expanded…
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GH¢20 bn VAT target to thrive on compliance – Analyst
Some Tax Analysts have tasked government to enforce the compliance of payment of VAT if it is to double VAT collection. Their sentiment comes at the back of government’s plans to double VAT collection from 10 billion cedis to over 20 billion cedis. Ahead of government’s preparation towards the 2019 budget in November 2018, Finance…
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Cocoa prices remain at GH¢7,600 per tonne
The government has kept the price of cocoa unchanged for yet another time. This means the industry regulator will be buying a tonne of cocoa beans for GH¢7,600 from cocoa farmers for the 2018/2019 crop year; same as it did for the just ended crop season. But the Ghana Cocoa Board (COCOBOD) wants the government to…
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adb embarks on expansion drive in Ashanti & Northern regions
ADB Bank is to commence the financing of selected projects in the Ashanti and Northern regions. This will also see the bank expand its branch network to the two regions. A statement from ADB to Citi Business News said, “the bank’s new focus is to work with small and medium size indigenous businesses with the…
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COCOBOD to announce new cocoa prices today
The Ghana Cocoa Board will later today announce a new producer price for cocoa. The new figure will be the benchmark at which cocoa beans will be purchased from cocoa farmers. For the just ended crop season, COCOBOD kept the price of a tonne of cocoa unchanged, at 7,600 cedis. It is unclear whether the…
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Passion Air secures second aircraft for Accra-Tamale route
Passion Air has taken delivery of its second aircraft for its operations. The airline which is the latest to join the domestic aviation space will now expand its routes with the new aircraft. The new aircraft comes a little over a month into the start of operations by Passion Air. The aircraft also heralds the…
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IMF blames cedi’s woes on weak communication
The International Monetary Fund (IMF) has stated that the lack of effective communication by the government on foreign exchange policies, has partly contributed to the cedi’s depreciation. The Fund believes that the lack of clarity also made the public resort to speculations which impacted the local currency’s performance. A report issued by the IMF’s mission…
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Occupants of Trade Fair to vacate facility by year end
All occupants of the Trade Fair site are to vacate the premises by the end of this year; 2018. This management says is to allow for work to begin on site. Trade fair has for some time now stated their intentions to revamp the facility to restore the once vibrant trading hub. Chief Executive Officer…