BUSINESS

New tax cuts take effect in 2018 – GRA assures

The Ghana Revenue Authority Customs Division has announced the tax cuts and abolition announced in the 2017 budget will take effect next year. The assurance follows communication to the Economic Community of West Africa States through the newly- amended Common External Tariffs. About ten different taxes were abolished while others were reduced during the budget reading early this year. Business ...

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Banks In Ghana Not Helping Local Businesses – CEO

The CEO of Doron Medical Center Rev. Dr. Godwin Ahlijah has blamed banks in Ghana for the lack of financial support and poor performance of local Ghanaian businesses. According to him, the unwillingness on the part of the banks to approve loans remains number one killer of dream businesses hindering entrepreneurship and job creation. Rev. Dr. Ahlijah, who is also ...

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BOST GHc35 million profit claim a scam – Group

A group calling itself the Coalition for Social Justice has described as fraudulent claims by the Bulk Oil Storage and Transportation Company Limited (BOST), that it made a profit of about GHc35 million in its 2017 operations as a result of the ingenuity of its current Managing Director, Mr. Alfred Obeng. The group described the claim as deceitful and a ...

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Collapse of UT, Capital banks cost GH¢3.4bn — Isaac Adongo

The Member of Parliament (MP) for Bolgatanga Central, Mr Isaac Adongo, has asked the government and the Bank of Ghana (BoG) to come clean on the financial impact of the collapse of UT and Capital banks on the taxpayer, explaining that the collapse has so far cost the country GH¢3.4 billion. Out of the amount, he said, GH¢1.4 billion was ...

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Mine Workers’ Union Petition Parly Over Goldfields’ Retrenchment

The Ghana Mine Workers Union has petitioned Parliament to intervene and stop Goldfields Ghana Limited from sacking about 1,500 of its members. The retrenchment is expected to affect most of its miners at the Tarkwa mine. Confirming the exercise in a recent interview, Goldfields Ghana’s Vice president and Head of Corporate Affairs David Johnson explained that the move is part ...

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Ghana’s economy not doomed – Kotei Dzani

The President of Group Ideal, Nii Kotei Dzani, says the economy is not doomed but rather recovering given the prudent economic measures being implemented by the government. “Those predicting doom for Ghana’s economy are not God. It is recovering and we need to take advantage of it,” he stated during the company’s festival of Nine Lessons and Carols in Accra, ...

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AMA to use tech in collecting revenue

The Accra Metropolitan Assembly (AMA) will start using technology in collecting revenue, mayor Mohammed Adjei Sowah has said. This, he said, will help deal with potential fraud associated with revenue mobilsation among AMA officials. He explained that the AMA will use a ‘Point-of-Sale’ device that will enable the AMA head office track the number of tickets that have been issued ...

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AWA Begins Thrice-Weekly Accra-Monrovia Services

Africa World Airlines (AWA) Tuesday December 12, 2017, flew its maiden flight from Accra to Monrovia; a journey its management described as an important milestone in their  goal of connecting West Africa. “The start of a direct service by Africa World Airlines (AWA) between Ghana’s capital Accra and Monrovia will deepen trade relations between the two countries and also offer ...

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Nine banks raise GHC 510m syndicated loan for MTN

Ecobank Ghana and eight local banks have partnered MTN Telecommunication to sign a GHC 510 million syndicated loan to finance infrastructure expansion in the country. Mr Dan Sackey, Managing Director of Ecobank Ghana at the ceremony in MTN House said the ceremony is a confirmation of the willingness of the banks to support the business of MTN on the back ...

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Parliament approves 2016 PIAC report

Parliament on Monday approved the 2016 annual report of the Public Interest and Accountability Committee (PIAC) on the Management of Petroleum Revenues, with a call on the Volta River Authority (VRA) to settle its debt for gas supplied to it by the Ghana Gas Company. The report examines crude oil production, marketing, distribution and utilisation of petroleum revenues and makes ...

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