BUSINESS

Royal Dutch Shell Plc is in talks to sell two Nigerian oil licenses in an area that’s at the heart of environmental and human rights controversies for $2 billion, according to people familiar with the plan. The Anglo-Dutch oil major is discussing selling oil mining licenses 11 and 17 to Heirs Holdings Ltd., a company run by Nigerian tycoon Tony ...

Scores of customers of trouble-hit financial institution Midland Savings and Loans Company have besieged the premises of the Shiashie branch of the firm to withdraw their monies. The development comes on the back of the assault of a customer by a police officer who was on duty at the facility last week. Lance Corporal Godzi Frederick Amanor brutishly assaulted the ...

A member of the National Democratic Congress (NDC), Sammy Gyamfi, has described as a “blatant lie” the announcement of no increase in Value Added Tax (VAT) by Finance Minister Ken Ofori-Atta. Sammy Gyamfi, who said this on TV3‘s New Day on Friday, stressed: “It was a blatant lie, and as a matter of fact, the Finance Minister peddled falsehood when ...

Wines of South Africa (WOSA) is back in Accra with the Popular Wine tasting fair scheduled for July 21 at the Movenpik Ambassador hotel in Accra. WOSA is bringing together the best wines makers and brands from South Africa for the grand tasting fair. The event is an initiative of WOSA (a non – profit Organization) to promote the world ...

Local vehicle manufacturer Kantanka Automobile is set to debut commercial production of electrical cars this year for the domestic and international markets. The company’s General Manager, Mr Francis Kudjorjie, said in an interview that Kantanka had successfully completed a pilot phase of electric car manufacturing, paving the way for full commercialisation by December this year. The move will represent a ...

President Nana Addo Dankwa Akufo-Addo has visited the construction site of the 1-village-1-dam project in Bongo, as part of his 2-day tour of the Upper West Region. With a total of 570 dams to be constructed in the Upper East, Upper West and Northern Regions, President Akufo-Addo indicated that 10 of these dams will be sited in the Bongo constituency, ...

President of IMANI Africa, Franklin Cudjoe says amidst the fiscal measures introduced by government to boost revenue, it was equally important for the Finance Minister to have likewise come clear on measures it has adopted in bringing public expenditure down and under greater control. “The Finance Minister acknowledged the need for closing revenue loopholes, going after corrupt persons who evade ...

For the first time in the country’s history, owners of luxury vehicles with engine capacities of 3 litres or more will now pay an annual tax on their vehicles. Finance Minister Ken Ofori-Atta announced this in Parliament Thursday when he presented the government’s Mid-Year Budget Review. Christened Luxury Vehicle Tax, the government is seeking to raise more revenue by taxing ...

Economist Gideon Amissah, has asked the Government of Ghana to re-direct its focus towards internally generated funds (IGF) within the various Ministries, Departments and Agencies (MDAs) as well as state-owned institutions for money to manage the economy rather than hiking taxes. According to him, imposing more taxes on Ghanaians will further aggravate the economic conditions they are grappling with. Indications ...

The National Democratic Congress (NDC) Members of Parliament (Minority Caucus) have raised doubts about the country’s projected deficit target of 4.5% GDP. In the view of the Minority NDC group, all the analysis they’ve done about the economy points to the direction that projected target will not be realized as a result of excessive expenditure by the government. Ghana’s fiscal ...