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BoG bans pricing in foreign currencies

The financial sector regulator, Bank of Ghana (BoG), has prohibited the pricing, advertising and receipt or payment for goods and services that are contracted locally in any foreign currency. In a release issued and signed by Alethea Godson-Amamoo on behalf of the Secretary to the BoG, the central bank cautioned companies,

BoG to get tough on currency import, export violators


The Bank of Ghana (BoG) has warned of severe consequences for persons who flout its rules concerning the importation and exportation of foreign currencies. In an announcement to the public, the central bank stated that it has powers under the Foreign Exchange Act, 2006 (ACT 723) to make rules governing the

1D1F: 45 factories currently operational – Ahomka-Lindsay


There are currently 45 of the One District One Factory projects operational out of 181 projects already on the drawing board, according to Deputy Minister of Trade and Industry, Robert Ahomka-Lindsay. Aside from 22 of the 181 projects, which are under construction, the remaining projects are set to commence implementation before the

Gaming Commission suspends SAFARIBET, warns public against LOLLIBET

The Gaming Commission has suspended indefinitely, sports betting Company, Safaribet Sports Betting. A statement from the Gaming Commission urged the public not to conduct any business with the betting company “until further notice.” “Gaming Commission of Ghana wishes to bring to the notice and attention of the general public that African Gaming

MTN to acquire two remaining 4G spectrum lots

MTN Ghana is gearing up to acquire the two remaining 2x5MHz spectrum lots in the 800MHz band. The spectrums were left after Vodafone Ghana bought one for $30 million December last year. “MTN intends to acquire this remaining spectrum to enable it to continue to give its customers an increasingly better experience

Import duties slashed by 50%, cars 30% effective April 4

Government says effective Thursday, April 4, there will be a reduction in import duties at all of the country’s ports. Vice President Dr. Mahamudu Bawumia, who disclosed this at the Economic Management Team (EMT) town hall meeting Wednesday, said, import duties will be reduced by 50 per cent while importers of vehicles

Accra Brewery responds to reports of wrongful application of tax stamps


Accra Brewery Limited’s ABL attention has been drawn to media reports regarding the Ghana Revenue Authority’s (GRA) enforcement action on some of its Key Distributors  in relation to the tax stamp policy. ABL wishes to state that its decision to provide tax stamps to the company’s key distributors were borne out

Economy regains momentum, moves 6 places in latest World Bank report


Ghana has made progress to improve the ease of doing business, according to the World Bank Group 2019 Doing Business Report - Training for Reform, released Wednesday. In the latest report, Ghana has improved its ranking to 114 out of 190 economies up six places from 120 in the 2018 Doing Business Report. Ghana’s ease

Every district will have a factory by 2020 – 1D1F Coordinator

One District, One Factory

The National Coordinator of the One-District-One Factory policy initiative, Hon. Gifty Ohene Konadu, has assured Ghanaians that every district will have its own factory by the end of 2020. She noted some districts will even have more factories than others depending on the raw material potentials they have. Corroborating her claim, she