The Social Security and National Insurance Trust (SSNIT) is pushing for an amendment of the National Pensions Act, 2008 (Act 766) to compel employers to include the allowances of employees in the computation of their pensions. The move is to enable workers to earn bigger pensions when they retire. The Director-General of SSNIT, Dr John […]
The prospect of Ghana securing an expedited deal with the International Monetary Fund (IMF) has been given another boost, as the United Kingdom (UK), Germany and France have pledged to support the country to deal with its current economic crisis. These financing commitments came on the back of closed-door bilateral meetings hosted by a government […]
Some traders in Kumasi have called on the government to adopt more sustainable and business-friendly tax policies that would help the government to optimise its revenue mobilisation while promoting business growth. According to them, the current Value Added Tax (VAT) policy being implemented by the Ghana Revenue Authority (GRA) “does not support our system.” “The […]
The Ministry of Finance and the Bank of Ghana have constituted a five-member consultative committee to act as the liaison between the two state agencies and the financial services industry in developing a debt management strategy that meets the expectations of the government and the private sector investors. The work of the committee is also […]
The Development Bank Ghana (DBG) has so far disbursed about GH¢245 million to its partner financial institutions for on-lending to small and medium enterprises (SMEs). The disbursement started when the bank was set up in July this year. The Chief Executive Officer of the bank, Kwamina Duker, who disclosed this, said the DBG, in the […]
Ghana has issued its first certificate of full commercial trading to a ceramic tiles production company to export its products under the African Continental Free Trade Area (AfCFTA) Guided Trade initiative. In the same vein, the Customs Division of the Ghana Revenue Authority (GRA) has received the first consignment of goods under the initiative from […]
The Public Utilities Regulatory Commission (PURC) has ordered the Electricity Company of Ghana (ECG) to pay compensation to affected customers in the recent failure in the ECG prepayment vending system. By the order, all categories of customers — residential, non-residential, commercial and lifeline — are to be compensated in the form of one-time electricity credit […]
President Nana Addo Dankwa Akufo-Addo has reiterated the urgent need for the international financial structure to be reformed to meet the needs of developing and emerging economies. “The necessity for reform of the system is compelling,” he argued, saying the current structure was skewed significantly against developing and emerging economies such as Ghana. He added that […]
The International Monetary Fund (IMF) is optimistic that the country will emerge stronger from the current economic challenges that have seen the prices of goods and services soar. The challenges have also led to difficulties for the government to access the international capital market for funds to finance development. The IMF said the country had […]
Businesses in Kumasi belonging to Aisha Huang have been closed down following her arrest for alleged illegal mining. The Chinese was deported sometime in 2018 for her alleged involvement in illegal mining in Ghana, but returned to the country to engage in similar activities. She was, however, picked up again by National Security operatives in […]
The International Monetary Fund (IMF) says a deal with Ghana should be reached and finalised before the end of the year. Already, very constructive discussions have been held and the fund is determined to work with the Ghana government and the Ministry of Finance to ensure that an agreement is in place before the end […]
The National President of the Ghana National Chamber of Commerce and Industry (GNCCI), Mr Clement Osei-Amoako has appealed to Ghanaians and businessmen to desist from buying the dollar and hoarding them, as he lamented that the practice was hurting the economy. He explained that the buying of the United States dollar and other foreign currencies […]
