In April 2024, the market capitalization of the Ghana Stock Exchange (GSE) surged to an unprecedented GH¢80.20 billion, marking a significant milestone. This remarkable increase was driven by substantial gains in the share prices of various companies, underscoring the positive market sentiment and bolstered investor confidence. As outlined in the GSE’s April 2024 Summary of […]
The Daily Graphic has uncovered that many retail outlets in the country are not complying with the Ghana Revenue Authority’s (GRA) directive and the law on the electronic Value Added Tax (e-VAT) invoicing system, more than 18 months after the initiative took off. While the Value Added Tax (Amendment) No. 2 Act, 2022 (Act 870) […]
The National Communications Authority (NCA) has approved the application of Space X Starlink GH LTD, operators of Starlink Satellite Broadband, to offer Satellite Broadband Services in Ghana. Advertisement The approval of the application follows the policy approval of the Satellite Licensing Framework in Ghana by the Ministry of Communications and Digitalisation. The administrative processes toward […]
Oil and gold prices have jumped after US officials said an Israeli missile had struck Iran. Brent crude, the international benchmark, rose by 1.8% to $88 a barrel while gold briefly came close to a record high before falling back to nearly $2,400 an ounce. Investors have been closely watching Israel’s reaction to Iran’s direct […]
In response to the revenue gap caused by the abandonment of the value-added tax (VAT) on electricity, government plans to implement a tax on the foreign incomes of resident Ghanaians. Earlier this year, the government introduced a VAT on electricity, but public backlash led to its abandonment, leaving a revenue gap of approximately GH¢1.8 billion. […]
The Minister of Finance, Dr Mohammed Amin Adam, has urged Ghanaians to continue to support the government as it implements the three-year extended credit facility (ECF) programme with the International Monetary Fund (IMF). He said the economy was on a good course, and that he was confident that things would get better in the coming […]
The Ghanaian Finance Ministry has announced that Ms Julie Essiam has taken up the position of Commissioner-General at the Ghana Revenue Authority (GRA), marking the first time a woman has assumed this role. She succeeds Rev. Dr. Ammishaddai Owusu-Amoah, who was relieved of his duties on March 27. Ms. Essiam brings a wealth of experience […]
Ghana’s economy will enter a recovery phase this year as the government is expected to increase expenditure in an election year, rating agency, Fitch, has predicted. – It said the recovery would be driven by stronger private consumption. Going into the 2024 elections; many have expressed concerns that the government would overspend its budget, a […]
The government has increased the price paid to cocoa farmers at the farm gate to GH¢33,120 per tonne. This marks a 58.26 per cent increase over the GH¢20,928 per tonne paid to the farmers at the farm gate, also known as the producer price. The Ghana Cocoa Board (COCOBOD) announced this in a statement issued […]
President Nana Addo Dankwa Akufo-Addo has reassigned the Deputy Minister of Trade and Industry and Member of Parliament for Nhyiaeso, Stephen Amoah, as a Deputy Minister of Finance to replace John Kumah, who passed away on March 7, 2024. Mr. Amoah, until his re-designation, was the Deputy Minister of Trade and Industry. The re-shuffle was […]
The Governor of the Bank of Ghana (BoG), Dr Ernest Addison, has given an assurance that the central bank has strong buffers to support the Cedi in spite of the local currency depreciating by 6.8 per cent in the first quarter of the year. He said with the gross international reserves increasing to $6.2 billion […]
The Ghana Statistical Service revealed on Wednesday that Ghana’s economy experienced a 2.9% growth in 2023, marking a decline from the 3.8% growth seen in 2022. Highlighting the specifics, the Statistical Service noted that the final quarter of 2023 showcased the highest real GDP growth rate at 3.8%, mirroring the growth rate observed in the […]
