Data from the Public Interest and Accountability Committee (PIAC) has disclosed that Ghana’s revenue from oil production saw an increase to a record US$783.33 million in the year ending 2021. This represents a 17.5 percent increase in revenue from the US$666.39 million recorded in 2020. According to PIAC, this increase is due to higher crude oil prices on the global market. Despite an increase in the turnover of oil production, the volume of barrels of crude oil reduced in the year ending 2021. Annual crude oil production declined by 17.7 percent from 66,926,806 bbls in 2020 to 55,050,391 bbls in…

The Ghana Chamber of Telecommunications, says despite the tough demands that come with the reconfiguration of the systems of Electronic Money Issuers (EMI’s) in Ghana, for the implementation of the Electronic transfer Levy (E-Levy), its members are committed to making sure the implementation comes off successfully. The implementation of the E-levy, which is expected to commence in May 2022, was originally expected to help bring in about GH¢6.9 billion this year to shore up government’s revenue. The Finance Minister, Ken Ofori-Atta, in an interaction with the media, mentioned that government expects systems that will pave the way for the implementation…

Former Finance Minister, Seth Terkper says a sustained high price of crude oil on the international market could help government in raking in much-needed revenue for this year. From a revenue target of GH¢72 billion in 2021, government has set for itself a new target of GH¢ 100 billion for 2022, and is hoping the coming implementation of the Electronic Transfer Levy, in addition to other measures, will help in achieving the high target. So far a barrel of Brent Crude oil has risen from about $76 at the start of this year to a high of about $140 in…