The total value of Mobile Money transactions in the first two months of 2023 hit ¢264.1 billion, about 72.6% growth year-on-year. This significant growth shows that Mobile Money transactions is hitting record highs despite the Electronic Transaction Levy (E-Levy). In the first two months of 2022, total Mobile Money Transactions stood at 153 billion According […]
Chinese authorities have expressed their commitment to support Ghana to resolve the current short-term liquidity challenges. China will also continue to support Ghana’s medium and long-term developmental aspirations. “China believes in promoting debt sustainability and sustainable development,” the Chinese Minister of Finance, Liu Kun, said. He gave the assurance when the Minister of Finance, Ken […]
The Chief Executive Officer of Axis Pensions, Afriyie Oware, has challenged pension fund managers to stop funding the government and channel their resources into private sector to help unlock their potential for sustained growth. Mr Oware said the practice where the fund managers acted like an extension of the Ghana Revenue Authority (GRA) by mobilising […]
The Electricity Company of Ghana (ECG) has disconnected the Ho Airport in the Volta Region for owing the power distribution company GH¢63,000. The regional office of the Ghana Revenue Authority, Ho Technical University, KFC in Ho, and the Customs Excise and Preventive Service (CEPS) Training Academy in Kpetoe were disconnected for owing a combined sum […]
The government has laid before Parliament three amended bills as part of measures to revamp domestic revenue mobilisation. When passed, the Income Tax Amendment Bill, the Excise Duty Amendment Bill and the Growth and Sustainability Amendment Bill will together rake in about GH¢4 billion annually. A highly placed source at the Ministry of Finance told […]
The Otumfuo Commemorative Gold Coin is rolling out an initiative to ensure that gold sourced from all areas under his authority is responsibly mined and traded. This aligns with the Corporate Social Responsibility (CSR) of the Otumfuo Commemorative Gold Coin project. Officials of E ON 3 Group, the company that was given authorisation by the […]
The Domestic Debt Exchange Programme presents a silver lining that the country must grab with both hands and fly with it, the Managing Director of Ghana Stock Exchange, Abena Amoah has said. She said the DDEP would reset the interest rate regime of the country and also help free up capital for investment in the […]
The Electricity Company of Ghana (ECG) is embarking on a nationwide revenue mobilisation exercise from today to recover all unpaid bills amounting to GH¢5.7 billion from its customers. The exercise, which will last for a month, targets domestic users, businesses, organisations, ministries, departments and state agencies for power already consumed from 2022 to February this […]
The Caretaker Minister of Trade and Industry, Samuel Abu Jinapor, has commissioned a Volkswagen (VW) vehicle assembly plant in Tema. With the opening of the €8million facility, the parent company, VW, will take over the vehicle assemblying responsibility from its licensed importer in Ghana, Universal Motors Limited (UML). With an installed capacity of 5,000 units […]
Finance Ministry says payment of coupons and principals in respect of the Domestic Debt Exchange Programme (DDEP) will start on March 13, 2023. According to a release issued by the Ministry, this only applies to old bondholders who did not sign up for the DDEP. “Secondly, in fulfillment of the assurance given by Government to […]
Trading activity on the bond market rebounded sharply as total turnover jumped by 453.25% to ¢750.36 million. This is coming following the beginning of trading of new bonds. The new Government of Ghana bonds saw an aggregate traded volume of ¢44.47 million. According to trading activity, the market saw very little activity in the opening […]
The government is rigorously working to pass a comprehensive Consumer Protection Bill to bolster consumer protection regime in Ghana, the caretaker Minister of Trade and Industry, Samuel Jinapor, has told Parliament. The overarching object of the bill is to protect, secure and defend the rights of consumers through a structured institutional mechanism and legal framework […]
