BUSINESS

The Ghana Union Traders Association (GUTA) has stressed on their calls for the government to discontinue the tax exemptions given to expatriate businesses and entities in Ghana. Spokesperson for GUTA, Joseph Paddy alleged that aside from being detrimental to indigenous businesses, the privilege of tax exemption for expatriates is seriously abused at the expense of the state’s revenue. “For example ...

Vice President Dr Mahamudu Bawumia says a process to match biometric details of workers in the national identity system at the National Identification Authority (NIA) and same details at the Controller and Accountant General’s Department (CAGD) has detected over 148,000 workers with multiple identities. “It may just mean that, maybe, they have not just registered for the Ghana Card. That ...

The Monetary Policy Committee of the Bank of Ghana (BoG) is expected to hold an emergency meeting on Wednesday to review recent development in the economy, an official statement has said. The meeting is coming on the back of the recent hike in inflation from 29.8% to 31.7%. Some analysts had earlier called on the Central Bank told an emergency ...

The Chief Executive Officer of the Ghana Chamber of Telecommunications, Mr Ken Ashigbey has said the ¢5 charge on the new application to be made available for download within the week to enable many to self-register in the SIM re-registration exercise, is not determined by the telecom companies. He said it is the work of the regulator, the National Communications ...

Telecommunication giants MTN Ghana Limited has announced a $1billion investment plan to address network challenges across the country especially in rural communities. According to the Chief Executive Officer of MTN Mobile Money -a subsidiary of the company, Mr. Eli Hini, the plan is part of activities aimed at improving and maintaining network leadership by 2025 in line with Ghana’s digital ...

Vice President of Imani Africa, Mr Bright Simons has said, ahead of the mid year budget review by the Finance Minister Ken Ofori Atta today Monday, July 25, the Minister must admit failings with some of the policies that were resisted in Parliament especially the e-levy. Speaking in an interview with TV3 ahead of the budget review, on Thursday July ...

The Director-General of Social Security and National Insurance Trust (SSNIT), Dr. John Ofori-Tenkorang has revealed that only one per cent of private sector workers contribute to SSNIT in Ghana. According to him, 11.5 million workers are in Ghana but only 1.7million are active SSNIT contributors. He said 63% of workers are in the private sector while 36% are Public sector ...

The Ghana Oil Company Limited (GOIL) has said it is not running any fuel subsidy promotion. It has therefore urged the general public to disregard any fuel subsidy promotion scheme with a link being circulated on social media. A statement issued by the Company on Wednesday, 20 July 2022, said: “The promotion encourages unsuspecting customers to join a fake trivia ...

The African Development Bank Group’s Board of Directors has approved 24, fast-track programs to help Africa mitigate rising food prices and inflation caused by Russia’s war in Ukraine, climate change and the Covid-19 pandemic. The first round of approvals is part of the Bank’s $1.5 billion African Emergency Food Production Facility, established in May to boost food security, nutrition, and ...

The Institute of Economic Affairs (IEA) has proposed that the Monetary Policy Committee of the Bank of Ghana increase the policy rate by 100 basis points or 150 basis points to hit 20 per cent or 20.5 per cent from the current 19 per cent. “…We are minded to suggest that the MPC should increase the policy rate by a ...