BUSINESS

Govt is a major beneficiary of Cedi depreciation – John Kwakye

The government is benefiting from the fall of the Cedi against the Dollar, Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has said. Lands For Sale The benefits, he explained, come in the form of  increased cedi-valued import taxes and oil proceeds. In series of tweets, Dr Kwakye said “Government is a major beneficiary of ...

Read More »

Cap govt’s borrowing; it’s the only way to check recklessness, high debts – Kwakye

Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye has said that the IEA is spearheading the passage of legislation to cap borrowing by government. In his view, this is the surest way to control reckless borrowing by governments and uncontrollable indebtedness. In a tweet, Dr Kwakye said ” The Institute calls on key stakeholders, including ...

Read More »

Long term national development plan needed – Gatsi

Dean of the Business School at the University of Cape Coast, Professor John Gatsi has called for the establishment of a long term national development plan for the country. In his view, the country lacks such a plan hence the development challenges. Speaking on the New Day show on TV3, Prof Gatsi indicated that the current challenges facing the country ...

Read More »

NPA sanctions 9 oil companies GHS2.2m for unlawful lifting of petroleum products

The National Petroleum Authority (NPA) has fined nine oil marketing companies GHS2,215,000 for engaging in illicit Third-Party trading of petroleum products, and unlawful lifting of petroleum products. The companies are Bello Petroleum, Jas Petroleum, Oval Energy, Kros Energy, Safety Petroleum, Santol Energy. The rest are Riseglobe Energy, Sayon Energy and Cigo Energy. A release issued by the NPA directed that ...

Read More »

Some banks begin suspending loans to new customers

Some banks in the country have begun suspending loans, particularly to new customers. This follows the increase in the policy rate by the Bank of Ghana to 24.5%. Joy Business understands that some of the foreign banks operating in the country have sent emails to their Relationship Managers and Officers to put on hold lending to new customers. Lands For ...

Read More »

SMEs business Owner’s challengers in 2022

Businesses usually have their own set of demands and challenges which span sectors and industries and are common among different companies and organizations. All businesses strive to maintain a top-quality relationship with their customer base, to keep their brands relevant and to make their employees happy. Small business owners must always find new ways to keep their businesses afloat and ...

Read More »

Ghana’s Joel Nettey hands over IAA Chairmanship to Sasan Saedi

Sasan Saedi has become the new leader of the International Advertising Association (IAA) following the expiration of the tenure of Joel Nettey as Chairman and world President. Joel Nettey, a Ghanaian and the first African to lead the network of marketing and marketing communications professionals was sworn in virtually two years ago. His leadership saw Accra play host to the ...

Read More »

GRA closes China Mall for refusing to fix electronic VAT system

The enforcement team of the Ghana Revenue Authority (GRA) has locked the Chinese retail shop, China Mall, and its warehouses on the Spintex Road and Ashaiman in the Greater Accra region. The action, follows the inability of the company to fix their tax electronic collection system to enable the GRA access the data. The GRA on October 1, 2022 started ...

Read More »

Another IMF mission due in coming weeks

The International Monetary fund(IMF) is set to deploy another mission to Ghana in the coming weeks, Gerry Rice, the Director of Communications for the IMF said at a media engagement. “We had an IMF staff team in Accra in July to begin initial discussions with the Ghanaian authorities. And we characterized that mission as constructive, kickstarted the process, and laid ...

Read More »

Cocobod sinks into ¢12.3bn debt leading to financial cost rise of ¢325m – A-G warns of ‘industry crippling’ risk

The Ghana Cocoa Board (Cocobod) is sinking into deep debt, the 2021 Auditor-General’s report has revealed, noting that the burden was as high as GH¢12.3 billion as of the 2019/2020 financial year. Section 90 of the Public Financial Management Act, 2016 (Act 921) stipulates that the governing body of a public corporation or state-owned enterprise shall establish and maintain policies, ...

Read More »