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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

Bank Crisis: Government saved deposits of 1m Ghanaians – Akufo-Addo


President Nana Addo Dankwa Akufo-Addo has revealed that the rationalisation of the banking sector has ensured that deposits of 1,147,366 Ghanaians were saved. Speaking at the inauguration ceremony of the new Standard Chartered Head Office on Wednesday, 3rd October 2018, President Akufo-Addo noted that his administration assumed the reins of office


Local IT Resource Development Initiative (IRDI) BlueSPACE Africa Technologies Limited, the #1 FinTECH provider in Ghana and West Africa, today announced the launch of its Local IT Resource Developing Program​. The first of its kind, to develop professional IT resources from the continent. This program is aimed to develop hands-on skills

China’s STarTimes Scheming To Takeover Broadcasting Space – GIBA


The Ghana Independent Broadcasters Association (GIBA) has warned it will resist attempts by Chinese Broadcasting company StarTimes to takeover the broadcasting space in Ghana through its arrangement with government. The Chinese company has secured a deal with government that will see it extend satellite TV to over 300 villages across the

Withholding VAT Not New Tax – Accountant General Assures Public


The Controller and Accountant General, Mr Eugene Asante Ofosuhene, has allayed the fears of the public, especially the business community, that the introduction of the seven per cent withholding Value Added Tax (VAT) is a new tax regime. Rather, he said, it was an innovation within the current tax regime to

BoG injects more dollars into economy


The Bank of Ghana (BoG) has stepped up its supply of United States (US) dollars to meet daily demands for foreign exchange as global pressures and the exit of investors from emerging markets cause the cedi to depreciate. According to a source at the BoG, the central bank had sold $157 million

Menzgold bows to SEC pressure; halts gold vault market services

Menzgold shutdown

Management of Menzgold has announced Thursday morning that it has temporarily halted its collectables and any new business related to its gold vault market with immediate effect. According to the company, the halt of what is also called extra value payments takes effect from today Thursday, September 13 and will be in

1District, 1Factory: Lokpleku folks to get steel factory

Steel Factory

The deputy minister of Trade and Industry, Mr Carlos Ahenkorah has cut sod for the construction of a steel factory at Lokpleku Village near Ningo in the the Greater Accra Region. The factory which is fully owned by a private firm (B5 PLUS Limited)when completed will directly employ 5000 workers which