Tag: Ghana National Chamber of Commerce and Industry
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Chamber of Commerce warns of collapse of businesses following new tax bills
The signing into law of three new tax bills by President Akufo-Addo has prompted the Ghana National Chamber of Commerce and Industry to issue a warning about the potential collapse of numerous businesses in Ghana. The Excise Duty and Excise Tax Stamp (Amendment) Bill, 2022, the Income Tax (Amendment) (No. 2) Bill, 2022, and the…
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Businesses will pass on increased cost of production from high utility tariffs – GNCCI
The Ghana National Chamber of Commerce and Industry (GNCCI) is cautioning that its members would have no choice but to pass on any increases in their cost of production that will arise, as a result of high utility tariffs. The remark follows the recent proposals for tariff increases by the Electricity Company of Ghana (ECG)…
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GNCC intensifies efforts to stop importation of substandard goods
The Chief Executive Officer of the Ghana National Chamber of Commerce (GNCC), Mark Badu Aboagye says his outfit has intensified measures to prevent the importation of substandard goods by its members ahead of the Christmas season. According to him, the GNCC is working in close collaboration with the Ghana Ports and Harbours Authority and other…
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We don’t expect tax hikes or new taxes in 2021 Q1 budget – GNCCI
Ahead of the Finance Minister, Ken Ofori-Atta’s presentation of the budget for the first quarter of 2021 on Wednesday, October 28, different groups of the Ghanaian society have been speaking about their expectations. The presentation, known as the Expenditure in Advance of Appropriation, is normally read in elections years to ensure the smooth running of…
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Chamber of Commerce calls for intensified collaboration to tackle cedi depreciation
The Ghana National Chamber of Commerce and Industry (GNCCI) has tasked the government to deepen its collaboration with the private sector to address the continuous depreciation of the cedi. Inflation moderated from 9.8 percent in December 2018 to 7.9 percent in 2019 mainly due to a decline in non-food inflation and rebasing of the inflation…
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Prepare to take advantage of AfCFTA’s new implementation deadline – GNCCI to businesses
The Chief Executive Officer of the Ghana National Chamber of Commerce and Industry (GNCCI), Mark Badu Aboagye, has asked businesses to take advantage of the postponement of the implementation of Africa Continental Free Trade Area Agreement to prepare adequately towards its execution next year. The AfCFTA Secretariat rescheduled the implementation from this month to the…
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Beyond COVID-19: Accra Chamber of Commerce launches website to promote businesses
As part of measures to counter the negative impact of the COVID-19 pandemic on business activities in Ghana, the Greater Accra Regional branch of the Ghana National Chamber of Commerce and Industry, has launched a new website to showcase and promote the businesses of its members. Speaking to Citi Business News, the Chairman of the…
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16 percent policy rate must reflect in cheaper credit – Chamber of Commerce
The Ghana National Chamber of Commerce and Industry is asking the Bank of Ghana to ensure that the decision to maintain the policy rate at 16 percent translates into lower interest on credit for businesses. The policy rate determines the rate at which the Central bank lends to commercial banks, and subsequently how much people…
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Disregarding regulations in new companies Act will attract sanctions – RGD
The Registrar General’s Department, has warned that companies that fail to adhere to regulations in the new Companies Act, will face sanctions. The Department, which recently threatened to delete the names of several companies in the companies’ register that have not updated their information, says these steps are being taken to sanitize the business space…
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GNCCI partners IFC to improve corporate governance among SMEs
The Ghana National Chamber of Commerce has moved to strengthen the governance structure of local companies especially Small and Medium Scale Enterprises (SMEs). Citing the factors that led to the collapse of some banks, the Ghana National Chamber of Commerce said there is a need to build the capacity of SME operators to ensure that…