Eighty companies have so far qualified to receive support to boost their businesses under government’s 50 million-dollar National Industrialisation Revitalisation Programme. They have been selected from more than 350 viable business facing distress who submitted applications for the programme to the Ministry of Trade and Industry (MOTI). Mr Robert Ahomka-Lindsay, Deputy Minister for Trade and … Read more
The Ghana National Chamber of Commerce as part of efforts to celebrate Ghanaian innovation and creativity in business, has launched the maiden ‘Chamber Business Awards, 2016. The awards, slated for 25th November, 2017 at the Banquet Hall of the State House, on the theme: “Enterprises in Transition: Recognising Innovative Businesses in Ghana,” will reward Ghanaian … Read more
When Nana Addo Dankwa Afufo-Addo, announced a year ago, as the leading opposition contender for the presidency, that if elected to the highest office in Ghana he would ensure that a factory was established in every district, many Ghanaians dismissed his pronouncement as just another heady electoral campaign promise from a man desperate to win … Read more
Private sector businesses have disclosed of plans to closely monitor the implementation of the one district, one factory policy to achieve the intended economic results. Their resolve follows what they say has been the lack of effective monitoring which have resulted in the collapse of past industrialization plans. The CEO of the Ghana National Chamber … Read more
Government’s District Industrialisation Project, otherwise known as the ‘One District, One Factory’ initiative, has received a GH¢1 billion support package from GCB Bank. Ray Sowah, Managing Director of GCB Bank, who made the announcement yesterday in Accra at a forum organised by the Ghana National Chamber of Commerce (GNCC) on the policy, said his outfit … Read more
The Minister of Trade and Industry, Alan Kyeremanten, has disclosed that, the government is willing to invest not more than 30 percent equity, if required, in any of the proposed “One District One Factory” projects. According to the Trade and Industry Minister, investing only 30 percent equity in its flagship policy initiative, is to ensure … Read more
Businesses in the Central and Western regions must strategize to take advantage of opportunities that abound in the region to promote domestic trade, Mr. Fredrick Alipui, Chairman of Accra Chamber of Commerce and Industry has said “Promoting domestic trade also leads to intra-Africa trade, boost businesses as well as sustain the economy,” Mr. Alipui said. … Read more
The One District One Factory Secretariat, implementer of the government’s mass industrialisation programme in the 216 districts of the country, has recorded a total of US$3bn in pledges, signaling strong foreign and local investor confidence in the much-anticipated project, Gifty Ohene-Konadu, National Coordinator, has said. “The program has so far generated investment pledges and commitments … Read more
As the Nana Akufo-Addo’s government reaches its 100 days in office, the Ghanaian business community appears to be highly expectant of the government’s ability to fix challenges facing their operations. Some business owners expressed optimism in the administration after the government’s maiden budget announced the abolishment of nuisance taxes and in some areas tax cuts. … Read more
The Ghana Export Promotion Authority (GEPA) and the Ghana National Chamber of Commerce (GNCC) have pledged support for exporters in the processed cocoa sector to obtain the technical proficiency in order to export their products to Canada. This is part of an ongoing initiative to diversify Ghana’s export markets and reduce the country’s over-reliance on … Read more
Chief Director at the Ministry of Finance, Patrick Nomo, has indicated that government will source funds from the domestic market, but it will be done in a strategic manner that will not crowd out the private sector. “Government’s decision to borrow from the domestic market has been influenced by a cautious strategy that will ensure … Read more
Exporters in the country have been trained on the implementation of a single and shared exporter online registration system for export declaration, Tuesday. The export platform will enable exporters lodge their documents, including the Ghana Export Promotion Authority Registration Certificate, Ghana National Chamber of Commerce (GNCC) Certificate of Origin, invoices, customs declarations and all export … Read more
Head of the Finance Department of the University of Ghana Business School (UGBS), Prof. Godfred Alufar Bokpin, says the proposed construction of a railway line from Accra to Paga will, among others, reduce the cost of doing business in the country. “Networking the country by rail will come with numerous benefits; for instance, one will … Read more
Economist and Head of Finance at the University of Ghana Business School, Professor Godfred Alufar Bokpin has attributed the cedi’s fall to the weak fundamentals of the economy. According to him, the health of the cedi is a reflection of the real sectors of Ghana’s economy which are currently weak and unstable. Figures available to … Read more
A general consensus at a post-budget programme organized by the Ghana National Chamber of Commerce(GNCC) has warned that ordinary Ghanaians may not fully benefit from the tax cuts announced in the 2017 budget due to weak consumer protection organizations. The Finance Minister, Ken Ofori Atta last week announced about 12 tax cuts in the budget … Read more
Chief Executive Officer of Dalex Finance and Leasing Company Limited, Kenneth Kwamina Thompson, has indicated that the real impact of the numerous tax reliefs captured in the 2017 budget will be minimal if the government fails to quickly arrest the steady decline of the cedi. According to him, the 2017 budget did not take into … Read more
Taxes that were abolished as announced by the Minister of Finance, Ken Ofori Atta in his 2017 budget presentation before parliament are woefully inadequate to positively impact on private business operations, Chief Executive Officer, Ken Kwamena Thompson noted. Describing the tax cuts as ‘Kakamotobe’, meaning ‘masquerade’ Mr. Thompson asserted the removal of duties imposed on … Read more
The Chief Executive Officer (CEO) of Dalex Finance, Mr Kenneth Kwamina Thompson, has said the impact of about eight out of 12 tax incentives introduced in the 2017 Budget Statement and Government Economic Policy is negligible to the development of the private sector. Describing the incentives as tax relief “masquerade,” he said the eight included … Read more
The Ghana National Chamber of Commerce (GNCC) has expressed its support for the Indian government and the Trade Promotion Council of India’s (TCPI) initiative of increasing trade relations. The initiative seeks to promote economic growth in Ghana through trade, employment generation and value addition to the country’s raw materials. The Head of Marketing, Trade and … Read more
The Ghana Trade Fair Center, which used to be a centre of attraction and convergence for trading activities among the business community, both local and international, is now a pale shadow of itself. The centre, built over four decades ago as a magnificent edifice meant to host major local and international fairs, is now in … Read more