Tag: Ghana Business News
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Vodafone pays 30% of tax arrears to GRA
The National Communications Backbone Company (NCBC), a subsidiary of Vodafone, has paid 30% of its debt to the Ghana Revenue Authority (GRA). Officials of the GRA confirmed this to Citi Business News. “The National Communications Backbone Company raised issues concerning the tax audit that was conducted and in conformity with the tax law, they were…
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1st ministerial assessment scheduled for October – Dr. Akoto Osei
Monitoring and Evaluation Minister, Dr. Anthony Akoto Osei has disclosed that his outfit will by October this year give an account of the performances of the various ministries towards achieving set targets. According to him, the ministries have already submitted reports detailing their key priority areas to be assessed on. Ghana’s Ministry of Monitoring and…
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Ghana to host 2017 World Tourism Forum
Ghana will host this year’s edition of the World Tourism Forum. The event is a globally acclaimed one that draws various stakeholders in the tourism industry together to identify investment opportunities in the tourism industry. Ghana’s opportunity to host is also part of moves to project the country’s tourism sector on the international scene. It…
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Amend insurance laws for mandatory towing by insurers
An Insurance Consultant, George Addae has impressed on authorities to amend Ghana’s insurance laws to allow insurance companies undertake the mandatory towing of vehicles. He explains to Citi Business News the new provisions will among others spell out the modalities in carrying out that mandate. “Now to create a levy on the motor insurance car…
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Govt shoots down ‘friendship’ ties with IMF after 2018
Government has insisted it will not subscribe unto the Policy Sector Initiative (PSI) with the International Monetary Fund (IMF) after the deal expires in December 2018. The NPP argues that the fund’s intervention has least improved the economy. Former Finance Minister, Seth Terkper has suggested that Ghana signs onto the PSI to benefit from financial…
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NPP to miss budget deficit target if … – Terkper
Former Finance minister, Seth Terkper has predicted that the NPP government will miss its budget deficit target for this year. He argues that the government’s efforts to ensure tax compliance and cut down some expenditure may yield little impact on the economic prospects. Mr. Terkper’s arguments are contained in an article where he impresses on…
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Cash waterfall insufficient to deal with power sector debts – Analyst
Some analysts in the energy sector say the government’s new cash waterfall mechanism to help the power sector will yield little results if the ECG fails to improve its revenue collection. They assert that overcoming the underlying challenge of revenue mobilization should translate in the prompt settlement of monies owed all agencies in the supply…
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BoG reduces policy rate by 150 basis points
The Bank of Ghana has reduced its policy rate to 21 percent. The figure represents a 150 basis points reduction from the 22.5 percent. This is the third consecutive time that the policy rate has been reduced by the central bank. Governor of the Bank of Ghana, Dr. Ernest Addison who announced the new rate…
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GCNET to pilot paperless regime in August
The Ghana Community Network Services Limited (GCNet) has told Citi Business News it will from next month [August], pilot its systems aimed at achieving a paperless transaction at the ports. The General Manager, of GCNET Alwin Hoegerle, explains that the exercise should help adjust the system for a smooth take off in September 2017. “Probably…
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10 companies honored at 2017 Trade Facilitation Awards
Ten companies have been awarded for their role in trade facilitation for the year under review. They were rewarded at the 2nd edition of the National Trade Facilitation Awards held at the Labadi Beach Hotel over the weekend. The Food and Drugs Authority (FDA) was awarded as best Ministry Department and Agency. Also, Buvensa Company Limited emerged…