To ensure that the prices of petroleum products imported under the Gold-for-Oil (G4O) programme reflect at the pumps to benefit consumers, the National Petroleum Authority (NPA) will regulate the prices of the products in the interim until the volumes increase significantly. In addition, the NPA will work with the Bulk Oil Storage and Transportation (BOST) […]
Recent decision by the Ghana Revenue Authority (GRA) to implement the Electronic Value Added Tax (E-VAT) E-VAT payment has brought some benefits to the country. The Electronic Value Added Tax (E-VAT) certified invoicing system has been designed to provide the Ghana Revenue Authority (GRA) with visibility into taxpayer transactions never before realised in the history […]
Nigerian industrialist Aliko Dangote, whose fortune dropped $400 million to $13.5 billion over the past year has emerged as the richest person in Africa for the 12th year in a row. South African luxury goods magnate Johann Rupert place second in consecutive years, despite falling $300 million to $10.7 billion while Metals and Mining magnate […]
As part of efforts to prevent Ghana from becoming a dumping ground for some substandard electrical appliances, the Energy Commission has announced a ban on the importation of some new but substandard and used electrical appliances. The Energy Commission in a statement said per its mandate under Act 541, it had caused Parliament to pass […]
The Office of the Registrar of Companies (ORC) has started the process of striking out 513,338 business names which have lapsed from the Business Names Register for defaulting in their renewal. The exercise is in line with Section 5A (2) of the Registration of Business Names Act, 1962 (Act 151) on annual renewals. The act […]
Ghanaians will from today start paying for more electricity bills in accordance with the January 16 announcement by the Public Utilities Regulatory Authority (PURC). On January 16, the PURC announced a 30 per cent and 8.3 per cent for electricity and water respectively expected to kick in today. According to the release by PURC sighted […]
The South African government has urged mobile operator MTN Group and the Ghana Revenue Authority to work closely to resolve a GH¢8,209,603,842.14 (US$773 million) tax dispute. South Africa’s Minister of International Relations and Cooperation, Dr Naledi Pandor last Friday encouraged MTN to work closely with the authorities in Ghana to devise a solution. A media statement issued by […]
The Minister of Lands and Natural Resources, Samuel Abu Jinapor, has asked managers of the Minerals Development Fund (MDF) to judiciously utilise resources accruing to the fund for the benefit of mining communities. He said the mandate of MDF was crucial and consequential to the government’s quest to make mining beneficial to citizens. “Failure to […]
President Nana Addo Dankwa Akufo-Addo has called on African nations to collaborate and institute stringent measures to stem the disturbing annual illicit outflows of $88 billion from the continent. He said stern attention was required to arrest the situation immediately because the phenomenon was depriving Africa of significant resources that could be used to support […]
Morgan Stanley has imposed financial penalties on employees who used messaging platforms such as WhatsApp for company business, according to two sources familiar with the situation. The penalties ranged from several thousand dollars for some staff to more than $1 million for others. The amounts were determined by factors such as the number of messages […]
The Government of Ghana and the Ghana Association of Banks (GAB) have made significant progress on the terms of participation of Banks in the Domestic Debt Exchange Programme (DDEP). The new agreement encompasses final improvements to the terms of the programme. These include; an agreement to pay 5% coupon for 2023 and a single coupon […]
The Bank of Ghana, Ghana Cocoa Board (COCOBOD) and the commercial banks have agreed to allow banks to use COCOBOD’s deposits/placements at the banks to cater for retail customers who may not want a rollover of their cocoa bills. This is coming after the BoG initially directed banks not to pay customers their maturing cocoa […]
