Business

Tax Justice Coalition decries uncertainty in Ghana’s tax policies
21 Sep

Tax Justice Coalition decries uncertainty in Ghana’s tax policies

Wontumi2Business,
The Tax Justice Coalition, a Civil Society Organization, has called for predictability in government’s tax policies, citing the recent reduction in the Communication Service Tax (CST) from nine (9) percent to five (5) percent as disruptive to business planning. The CST also known as “talk tax”, was first introduced in 2008 at an ad valorem rate of six per cent, but got increased to nine percent in 2019, as part of efforts by the current government to develop the foundation for the creation of a viable technology ecosystem in the country. But in an interview with Citi Business News, the Chairman…
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Cedi Heading For Best Performance Since 2006
21 Sep

Cedi Heading For Best Performance Since 2006

Jackson Odom KpakpoBusiness
Cedi Heading For Best Performance Since 2006 Ghana’s cedi has weakened every year since at least 1994. Now the central bank appears to have drawn a line in the sand, ready to intervene should the currency slip out of the tight range it’s held since May. The Bank of Ghana has sold dollars in the spot and forward markets to stabilise the cedi and closely monitors foreign-exchange trading to keep speculation to a minimum, according to traders and analysts who spoke to Bloomberg. The central bank is well-armed with foreign-exchange reserves after a $3 billion Eurobond sale in February. That…
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Ghana gov’t suspends ban on accident vehicle imports
18 Sep

Ghana gov’t suspends ban on accident vehicle imports

Wontumi2Business
The government of Ghana has reportedly suspended the implementation of the amended Customs (Amendment) Bill 2020 that bans the importation of accident and salvaged motor vehicles into the country. This was disclosed in an interview by the Ghana Institute of Freight Forwarders (GIFF) on Thursday though the government is yet to give full details about the suspension. The act which was passed in March this year amends the Customs Act 2015 (Act 891) and was set to roll out on November 1, 2020. Speaking to the CNR, however, the chairman of the Tema branch of the GIFF, Mr. Alex Asiamah, said he had been…
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Ghana’s economy contracts by 3.2% in second quarter – Statistical Service
18 Sep

Ghana’s economy contracts by 3.2% in second quarter – Statistical Service

Wontumi2Business, , ,
Ghana’s Statistical Service (GSS) has reported a 3.2% contraction of the country’s economy for the second quarter of this year for the first time since 1983. The data provided also showed that Ghana’s Gross Domestic Product (GDP) in the 2nd quarter of this year increased from GHS 85.7 billion compared to GHS 84.3 billion recorded for the same period in 2019. According to government statistician, Professor Samuel Kobina Annim the contraction was as a result of the partial lockdown and the restrictions on certain activities brought on by the coronavirus pandemic. “For the first time, in 37 years, Ghana’s economy…
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Move From Risky Okada Riding To A Safer Means Of Transportation – Bawumia To Okada Riders
18 Sep

Move From Risky Okada Riding To A Safer Means Of Transportation – Bawumia To Okada Riders

Jackson Odom KpakpoBusiness,
Move From Risky Okada Riding To A Safer Means Of Transportation – Bawumia To Okada Riders The Akufo-Addo administration will not legalise commercial motorcycle (Okada) business in Ghana, Vice President Dr Mahamudu Bawumia has said. He urged the Okada riders to graduate from this risky business to a more safer means of transportation. His comments come after claims that the government will legalise that particular activity following a promise by the National Democratic Congress (NDC) to do so if the party wins this year’s elections. Speaking at the joint launch of a strategic collaboration of Volkswagon & Blackivy to launch…
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Ghana-India trade relations to deepen as Trade Advisory Chamber ventures into Takoradi
17 Sep

Ghana-India trade relations to deepen as Trade Advisory Chamber ventures into Takoradi

Wontumi2Business, ,
The Ghana-India Trade Advisory Chamber has launched its Western Regional Branch in Takoradi. President of the Chamber, Derrick Oduro, has been explaining the strategic role the chamber will play in deepening Ghana-India trade relations. The prestigious event drew many from as far as Accra, Central region, in addition to the host region. Several dignitaries ranging from Sugandh Rajaram, Indian High Commissioner to Ghana; Carlos Ahenkorah, Tema West MP; Abraham Dwuma Odoom, MP Twifo Atti Morkwa, Dr. Kobby Okyere Darko-Western Regional and host Minister, Madam Anne-Rita Solano- Executive Director CCI France (French Chamber), Nana Adwoa Eduafowa II Queen mother Gomoa Dago…
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Citizens urged to be advocates against tax injustices
17 Sep

Citizens urged to be advocates against tax injustices

Wontumi2Business,
The Tax Justice Coalition (TJC) Ghana, a Network of tax practitioners and Civil Society Organizations (CSOs), has called on the public to join the campaign against injustices in the country’s tax system. It said the campaign would influence policy processes and contribute to public fiscal accountability, equity, poverty reduction and revenue mobilization at all levels for national development.Mr Mohammed Awal Sumani Bapio, the Northern Sector Convener of the TJC Ghana, made the call at a meeting organised by the TJC Ghana in Tamale.It was attended by representatives of some CSOs, officials of the Ghana Revenue Authority (GRA) and interest groups…
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NPP Gov’t Will Not Legalize Okada Business – Bawumia
17 Sep

NPP Gov’t Will Not Legalize Okada Business – Bawumia

Jackson Odom KpakpoBusiness, Featured
Vice President Dr. Mahamudu Bawumia has announced that the Akufo-Addo government will not legalize ‘Okada’ business. According to him, though it’s a tough decision to make, the government has had to take this stance in the supreme interest of Ghanaians. The Flagbearer of the main opposition NDC, John Mahama says his government will legalise the commercial operation of motorbikes popularly known as Okada when voted into power in 2021. According to him, the Okada business has become a means of sustenance for young people who are unemployed. Addressing people during his tour of Kpando in the Volta Region, he stated that “our…
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Bill Gates Lauds Ghana For Exemplary Leadership
16 Sep

Bill Gates Lauds Ghana For Exemplary Leadership

Jackson Odom KpakpoBusiness
Bill Gates Lauds Ghana For Exemplary Leadership   American business magnate and Co-founder of Microsoft, William Henry Gates, popularly known as Bill Gates, has, lauded Ghana for showing exemplary leadership and making strides on several fronts. Mr Gates made the remarks when Vice President Mahamudu Bawumia held a meeting with him via Zoom, to discuss three pertinent issues affecting Ghana. They discussed Ghana's progress on immunization against the new circulating vaccine-derived polio virus type 2 (cVDPV2), the lessons from Ghana's policy response to COVID-19 pandemic and Ghana's digitisation strategy. In a tweet, Vice President Bawumia said, "It was a good exchange of…
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Trade Minister Inaugurates 5-Member-Board Of Revitalised Ayum Forest Product Ltd
15 Sep

Trade Minister Inaugurates 5-Member-Board Of Revitalised Ayum Forest Product Ltd

Jackson Odom KpakpoBusiness
Trade Minister Inaugurates 5-Member-Board Of Revitalised Ayum Forest Product Ltd Trade minister, Alan Kyeremanten, has inaugurated a 5-member-board of the Ayum Forest Product Limited. Board members include two government representatives, two representatives from the Ayum Forest Product Limited and one ex-officio. They are: Naja David (Chairman), Tony Elradi, Andrews Adjei-Yeboah, Hon. Henry Kwabena Kokofu, Estelle Afari Djan and Frederick Ebeneku-Anim. According to the trade minister, the government’s unusual involvement in the inauguration is due to its main responsibility of enabling collapsing factories thrive under the One-District-One-Factory Initiative. Ayum Forest Products shut down its operations in 2016 and as a result…
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