BUSINESS

Minister for Parliamentary Affairs and caretaker Minister for Finance, Osei Kyei Mensah-Bonsu, has said that the government lost revenues totaling GHC13.6billion due to the Covid-19 pandemic. Delivering the Budget and Economic Policy to Parliament on Friday, the MP for Suame said “IMF data indicate that the global economy is expected to grow at 5.5%. This reflects an expected positive turnaround. ...

Minister for Parliamentary Affairs and caretaker Minister for Finance, Osei Kyei Mensah-Bonsu, has said that government’s Coronavirus Alleviation and Revitalization of Enterprise Support (CARES) initiative is a singular and remarkable financial investment in the Ghanaian economy by a sitting government. Presenting the 2021 budget statement and economic policy on the floor of Parliament on Friday, March 12, 2021, Mr. Osei ...

Government is introducing a Covid-19 Health Levy of 1% on Vat, Flat Rate Scheme (VFRS) and a 1% on National Health Insurance Levy (NHIL) as part of revenue measures to help the economy recover. Minister of Parliamentary Affairs and Majority leader Osei Kyei Mensah Bonsu who disclosed this during the 2021 Budget Statement in Accra on Friday, March 12, 2021, ...

Ghana witnessed a surge in Foreign Direct Investments (FDI) inflows recording an impressive $2.6billion worth of inbound investments for the year 2020. The Ghana Investment Promotion Centre in its Investment report for the 4th quarter of 2020 said the significant FDI recorded was against expectations following the Covid – 19 outbreak but touted government policies and interventions in keeping the ...

A research analyst at the Institute for Energy Security (IES) Fritz Moses has called on managers of the power sector in the country to be transparent about the recent power outages. Ghana experienced a nationwide power cut on Sunday, March 7 topping weeks of infrequent power supply in parts of the country. The Ghana Grid Company (GRIDCO) however says the ...

Chairman of the Angel Group of companies, Dr. Kwaku Oteng has been inducted into the Corporate Ghana Hall of Fame. The Executive Chairman, Board of Directors, and Evaluation Committee of Corporate Ghana decided to induct the President and founder of one of Ghana’s most successful entrepreneurs after analyzing his contribution to the economy of the country over the years. Starting ...

Energy expert Dr. Yusif Seleimana has shutdown suggestions that it would not be profitable for the Tema Oil Refinery to refine crude in its current state. He said the government can turn around the fortunes of TOR by ensuring that its RFCC Unit is functional to convert residual fuel into high-value products. This according to him will reposition TOR to ...

More cryptocurrency trading goes on in Nigeria than almost anywhere else in the world, reflecting a loss of faith in more traditional forms of investment, as Ijeoma Ndukwe reports. Tola Fadugbagbe recalls moving to Lagos from his small south-western town 10 years ago with dreams of brighter prospects. Instead, the 34-year-old ended up in a series of odd jobs earning ...

The Bank of Ghana has launched a regulatory and innovation sandbox pilot in collaboration with EMTECH Service LLC. The move, according to a statement issued by the central bank, is in line with its commitment to evolve an enabling and inclusive regulatory environment that promotes FinTechs and supports innovation. “Within the financial sector, a regulatory and innovation sandbox is a supportive and ...

Director of Finance for the Association of Small Scale Miners, Francis Opoku has advised government to pair officers from the Ghana Revenue Authority (GRA) with the taskforce mandated to check the galamsey menace in the country. On his accord, galamsey is a complex issue and has seen to the corruption of some noble members of the taskforce mandated to fight ...