Tag: Ghana Business
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![#HelloKigali tour reveals Kigali’s serene landscape [Photos]](https://citibusinessnews.com/wp-content/uploads/2017/01/pic-2-1.jpg)
#HelloKigali tour reveals Kigali’s serene landscape [Photos]
Business leaders taking part in Citi FM’s Hello Kigali business tour have already been warmed into the serene and apparent orderliness in the city of Kigali. For the first day of their tour, the delegation will today be exposed to Rwanda’s strategy in ensuring tax compliance, as well as efficiency and reliability in the provision…
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IMF review to determine deficit financing options
The Bank of Ghana has told Citi Business News it will strictly abide by any agreement reached by the government and the International Monetary Fund (IMF) on the financing of government’s budget deficit. It follows a review of the extended credit facility by the IMF and government, in February. Governor Dr. Abdul Nashiru Issahaku believes…
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We’ll reduce energy sector levies – Boakye Agyarko
The Energy Minister Nominee for Energy, Boakye Agyarko has announced an ambitious plan by the NPP government to reduce the taxes on the energy sector even as it initiates plans to address challenges facing the country’s power sector. As a result, the government says it will revise the energy sector levies. Mr. Agyarko who believes…
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MPC must reduce policy rate – Prof. Bokpin
Economist Professor Godfred Bokpin has impressed on the Bank of Ghana (BoG) on the need to reduce the policy rate even as the Monetary Policy Committee (MPC) announces a new rate today. Professor Bokpin explains to Citi Business News a decline in the policy rate by at least 200 basis points will relieve businesses of…
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Ghana crosses deadly 70% mark with ¢120 bn debt
Ghana’s total debt stock has reached 119.9 billion cedis as at November 2016, figures from the Bank of Ghana have shown. The debt also represents 71.9 percent of the country’s Gross Domestic Product (GDP). According to the Bank of Ghana’s Economic and Financial Data, the country’s debt ballooned from 112.3 billion cedis in September 2016…
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FDI drops by over 80% in 2016 third quarter
Foreign Direct Investments decreased by 83.33 percent for the third quarter of 2016, figures from the Ghana Investment Promotion Centre (GIPC) has shown. The FDIs dropped from 1.45 billion dollars in the second quarter of 2016 compared to the 241.17 million dollars for the third quarter of the same year. Similarly, the total initial capital transfers…
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Inaccurate data from BoG, Finance Ministry affecting gov’t work – Osafo-Maafo
Senior Minister Nominee, Yaw Osafo-Maafo has disclosed that the lack of accurate data on Ghana’s debt has made it difficult for the NPP government to make projections on the fiscal gap to influence planning. According to him, the inconsistency of data from the Ministry of Finance and the Bank of Ghana on the debt owed…
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I will stop Ghana’s $ 4 bn loss to corruption – Ken Ofori Atta
Confronting the 4 billion dollars loss to corruption should create enough buffers to meet the infrastructure development agenda of the NPP government, Finance Minister Nominee, Ken Ofori Atta has said. According to him, reducing the high incidences of corruption if not eradicating the canker completely should assist government address the infrastructure deficit facing the country.…
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Paying BDC debts will give us respite – OMCs
Oil Marketing Companies (OMCs) have expressed confidence in the new administration to complete the payments of the BDC debt. According to them, adequate structures have been put in place, for the payment of the debt without any undue delays. The prompt payment of the debts is expected to among other things facilitate the purchase of…
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We’re not influencing market negatively – GOIL
Ghanaian owned oil Marketing Company, GOIL, has rejected assertions that its decision to maintain prices of petroleum products for the second pricing window in January is a deliberate attempt to distort pricing in the petroleum downstream sector. According to some industry observers, the move defeats the primary purpose of the downstream petroleum price deregulation regime.…