The Minister of Finance, Mr. Kenneth Ofori-Atta on Wednesday, 15th November, 2017, presented the 2018 Ghana Budget and Economic Policy to the House of Parliament. As usual, the budget presentation did not go without massive heckling, ridicule and criticisms from angles of the minority/opposition in the house. Also See: Frightening Economic Facts Revealed in Nana … Read more
Kingsley Carlos Ahenkorah, a Deputy Minister for Trade and Industry has sparked some apprehension and controversy among stakeholders of the international business community especially those who trade in Ghana with his recent call on Ghana Community Network Services Limited (GCNet) to redouble its efforts to actualize Single Window operations in the country. The Deputy Minister … Read more
Financial institutions operating in the country have with immediate effect stopped charging 17.5 percent Value Added Tax (VAT) on all financial services. The decision is in pursuant to the Value Added Tax Amendment Law (Act948, 2007). Banks such as Access Bank, Ecobank, Unibank, CAL, UMB Bank and Zenith Bank, among others, have sent text messages … Read more
A tax analyst, Isaac Nyame, has asked government to come clear on the new tax administration measures that will be put in place to ensure that employers comply with employment income tax requirements. According to him, the employment income tax have not been effectively enforced over the years. Mr. Nyame made this known during the … Read more
The International Monetary Fund(IMF) has told Citi Business News government has assured the fund of its commitment to implement the ECF programme and achieve stability despite the resignation of the governor of the Bank of Ghana, Dr. Abdul Nashiru-Issahaku. Responding to queries sent by Citi Business News, an IMF spokesperson Andrew Kanyegirire said the “They … Read more
By: Nana Kwaku-Jr Discipline, like Dictionary.com explains as, “training to act in accordance with rules; drills.” Discipline, like Oxford-dictionaries define as, “the practice of training people to obey rules or a code of behaviour, using punishment to correct disobedience.” Given the definitions above, the two renowned online rostrums’ interpretations explicitly pivot around keywords such as: … Read more
All public sector workers who have not been biometrically registered with Social Security and National Insurance Trust (SSNIT) will be removed from government payroll next month. Kenneth Ofori-Atta, Minister of Finance, who made this known during the presentation of the budget in Parliament recently, said the size of the public sector compensation bill (wages, salaries … Read more
Thursday March 2 is a day many in Ghana will remember for a long time to come. It was the day the country’s Finance Minister, Kenneth Ofori-Atta, presented the Akufo-Addo-led administration’s first budget statement. It was a statement that touched the chords and nerves of many who had eagerly anticipated its reading. The finance minister … Read more
Government yesterday announced in Parliament that it has abolished some 11 taxes it termed ‘nuisance’ taxes and reviewed four other taxes, which were negatively affecting businesses in the country. Kenneth Ofori-Atta, Minister of Finance, who was delivering the 2017 Budget Statement and Economic policy, said the move was aimed at lessening the burden on consumers … Read more
Citi Business News can confirm that Government is considering extending Ghana’s program with the International Monetary Fund(IMF). Minister of Monitoring and Evaluation, Dr. Anthony Akoto Osei who confirmed the move to Citi Business News said Government is seeking to extend the Extended Credit Facility program with the IMF to December 2018. According to him, even … Read more
Citi Business News can confirm that Government is considering extending Ghana’s program with the International Monetary Fund(IMF). Minister of Monitoring and Evaluation Dr. Anthony Akoto Osei who confirmed the move to Citi Business News said Government is seeking to extend the Extended Credit Facility program with the IMF to December 2018. According to him, even though … Read more
The International Monetary Fund (IMF) has expressed shock at the level of deterioration of various economic indicators in 2016 saying Ghana’s fiscal problems required strong efforts of consolidation and the government also needed to urgently address a problem of debt among state enterprises The Fund listed large fiscal slippages, deterioration of overall fiscal deficit, large … Read more
International Monetary Fund (IMF) is confident the plans outlined by the New Patriotic Party (NPP) government to cut down and eliminate some taxes will restore fiscal discipline, promote debt sustainability and support private sector development. The fund argues that such decisions should also help reduce the large fiscal slippages observed last year. A statement released … Read more
Ghana’s overall fiscal deficit, on a cash basis, in 2016 deteriorated to an estimated 9 percent of GDP, instead of declining to 5¼ percent of GDP as envisaged under the IMF-supported program. The large deviation was mainly due to poor oil and non-oil revenue performance and large expenditure overruns the IMF has said adding that … Read more
The International Monetary Fund (IMF) is confident the plans outlined by the NPP government to cut down and eliminate some taxes will restore fiscal discipline, promote debt sustainability and support private sector development. The fund argues that such decisions should also help reduce the large fiscal slippages observed last year. A statement released by the … Read more
Golden Link Savings and Loans Company aims at facilitating government’s efforts towards creating an enabling environment for private investors, as well as transforming the economy. The new government of President Nana Akufo-Addo, since its inception, has been making significant moves towards achieving her major campaign promise which is to transform Ghana’s economy. The President has … Read more
The Finance Minister-designate says the over GHC2 million debt owed to Prudential Bank by the governing New Patriotic Party (NPP) has been paid. “It has fully been paid certainly it was in December,” Kenneth Ofori-Atta said amidst smiles. The co-founder of Data Bank – Ghana’s foremost investment institution – disclosed this when he appeared before … Read more
Ofori-Atta tells Ghanaians that it is possible to get value for money with the new administration in place… Finance Minister-designate, Kenneth Ofori-Atta has assured Ghanaians that under the new NPP government, the true state of the economy will not be hidden. Ofori-Atta said this while speaking to Joy News Flag Staff House correspondent on Tuesday. … Read more