Wednesday , July 24 2024

Business

IMF approves second $600m for immediate disbursement to Ghana

IMF boss

The International Monetary Fund (IMF) has approved the second tranche of US$600 million for Ghana. The IMF announced this in a statement on Friday, January 19, 2024. “The Executive Board of the International Monetary Fund (IMF) completed today the First review of the $3 billion, 36-month Extended Credit Facility (ECF) …

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15% VAT imposition on electricity harsh – Joe Jackson

Joe Jackson

Joe Jackson, Director of Business Operations at Dalex Finance has criticised the government’s decision to impose a 15% Value Added Tax (VAT) on specific electricity consumers. He described the move as “harsh” and argued that it disproportionately burdens low-income families. A January 1st letter from Finance Minister Ken Ofori-Atta instructed …

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No Ghana card, no salary in March – CAGD to govt workers

Ghana card

Mr. Kwasi Kwaning-Bosompem, the Controller and Accountant General, has stated that any public sector worker without a Ghana Card will risk losing his/her salary effective March 2024. This follows the launch of a software solution that integrated the databases of the Mechanised Payroll System of the Controller and Accountant General’s …

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Ride-hailing vehicle owners to pay Value Income Tax from January 1

Government through the Ghana Revenue Authority (GRA) will from January 1, 2024, commence the implementation of a new tax policy for ride-hailing vehicle owners of a new tax policy. Known as the Value Income Tax (VIT) GRA has said it is in accordance with Section 22 of Regulations 2016, LI …

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Government does not owe BDCs – Hawa Koomson

The Minister of Fisheries and Aquaculture Development, Mavis Hawa Koomson, has said the government has cleared all outstanding debts owed Bulk Distribution Companies (BDCs). According to her, any issues regarding payments for premix fuel supply have been settled. “The government does not owe any BDC money. We have been able …

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Online Fraud: Tricks you should be aware of

In today’s interconnected world, accessing goods and services is just a click away. As we approach the end of the year, the online shopping spree is on and folks everywhere are scouting the web and apps for those irresistible deals. Major retailers are dropping prices by up to 50 percent …

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Import restrictions bill crucial for debt sustainability, forex control – AGI

The Association of Ghanaian Industries (AGI) has expressed its support for the proposed import restrictions bill, viewing it as a crucial step towards achieving economic stability. The AGI, representing a wide range of industries in Ghana, believes that the bill’s enactment by Parliament will aid in Ghana’s debt sustainability efforts …

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Electricity tariffs slashed, water up

The Public Utilities Regulatory Commission has announced a downward review of electricity tariffs effective December 1, 2023 to February 29, 2024. The adjustment is in line with the Commission’s Quarterly Tariff Review Mechanism using key factors such as the exchange rate between the US$ and the Ghana Cedi, domestic inflation …

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BoG fines, temporarily suspends forex license of Zeepay Ghana

The Bank of Ghana has fined Zeepay Ghana Limited for failing to use the average interbank exchange rate published by the Ghana Association of Banks and the Bank of Ghana for the conversion of settlement funds into the local currency. This development was captured in a statement issued by the …

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I am willing to buy, complete Saglemi Housing Project – CEO

The Chief Executive Officer (CEO) of the Afro-Arab Group of Companies, Salamu Amadu has expressed interest in the controversial Saglemi Housing Project and has appealed to the government to consider selling the abandoned project to him. In a yet-to-be-aired interview with KSM, he pledged to complete the houses as soon as possible …

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