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 […]
The country’s first-ever Independent Tax Appeals Board has been inaugurated, with a call on the members to ensure speedy adjudication, accuracy and fairness in tax dispute resolution and transform the country’s domestic revenue mobilisation efforts. The 11-member board is chaired by Justice Lawrence Mensah, a retired Court of Appeal Judge, with members including the President […]
Finance Minister, Ken Ofori-Atta has assured that government will not touch Treasury Bills (T-bills) under the Domestic Debt Exchange Programme. According to him, it will be suicidal for government’s own finances and fundraising programmes in the future to touch T-bills as part of the programme. Mr. Ofori-Atta noted that government has conducted a Debt Sustainability […]
The National Communications Authority (NCA) has granted a conditional approval for the transfer of the 70 per cent majority shares in Vodafone Ghana to Telecel Group. This is subject to concessions made by Vodafone and representations made by Telecel to the NCA. It is still pursuant to the evaluation of the revised proposal from the […]
The Public Utilities and Regulatory Commission has increased electricity and water tariffs by 29.96% and 8.3% respectively. The new rates take effect from February 1, 2023. This follows the conclusion of its regulatory process for the quarterly adjustment of utility tariffs covering the first quarter of 2023. The Commission said the process is in conformity […]
Former Trade and Industry Minister, Alan John Kwadwo Kyerematen has officially handed over the sector to caretaker minister, Samuel Abu Jinapor. This follows a directive from the President, Nana Akufo-Addo through his Director of Communications at the Presidency, Eugene Arhin. On Friday, January 13, President Akufo-Addo in a press release directed the Lands and Natural […]
The first consignment of the Gold for Oil Policy by the government to stem the increasing depreciation of the cedi against the major currencies has arrived at the Tema Port and discharged into the receptacles of Bulk Oil Storage and Transportation Company (BOST), Graphic Online has gathered. The 41,000 metric tonnes of the petroleum products […]
The deadline for individual bondholders to assent to the governments invitation to the Domestic Debt Exchange Programme(DDEP) ends today. Reports, however, reaching the Daily Graphic indicate that the response has been extremely poor with millions of bondholders refusing to sign on, a development confirmed by some banks. It is not clear what the government’s response […]
Some commercial banks in the country have started sending messages to their individual bond holders to subscribe to the government’s Domestic Debt Exchange Programme (DDEP) by close of day Thursday (Jan 12, 2023). One of such messages the Graphic Online accessed read; “In pursuant to the Minister of ‘Finance’s directive on the Domestic Debt Exchange […]
he Mobile Money Agents Association Of Ghana (MMAAG) has expressed the hope that the revised rate of the Electronic Levy (E-Levy) of one per cent, which takes off today, will help revive its business, since operations suffered last year when the levy was introduced. It said with money transfer businesses having suffered with the rate […]
