BOST takes delivery of 5,400 pipes for expansion

The Bulk Oil Storage and Transportation Company Limited, BOST, has finally taken delivery of 5,400 pieces of 12- inch pipe among other equipment to support the rehabilitation and expansion works on its petroleum transmission lines from Tema to Akosombo. The pipes, which include valves, flow meters, pumps and generators were procured in 2009 for $63.2 million …

Deputy Finance Minister hints at review of implementation strategy for e-Levy

A Deputy Minister of Finance, Abena Osei-Asare, has hinted that the government may be reviewing the implementation strategy of the proposed Electronic Transaction Levy (E-Levy) in the coming days.Speaking at a Deloitte Economic Dialogue Webinar on the 2022 budget-themed ‘Digitalisation as a catalyst for economic recovery and growth’, Abena Osei-Asare stressed that government is indeed …

GUTA cautions of ‘intense protests’ if benchmark value policy is reversed

The Ghana Union of Traders Associations (GUTA) is warning of intense protests if the government goes ahead with plans to reverse the benchmark value reduction policy. Over a week after the Finance Minister proposed the reversal of the benchmark reduction policy in the 2022 budget, different stakeholders have defended or spoken against the move. In …

Ama Benyiwa Doe to be buried in December

The family of the late Ama Benyiwa Doe, a former member of the Council of State, has announced that she will be buried in the middle of December in her hometown, Gomoa Abora in the Central Region. The family made the announcement during a courtesy call on former President John Dramani Mahama at his office …

BoG increases Monetary Policy Rate to 14.5%

The Monetary Policy Committee (MPC) of the Bank of Ghana (BoG) has increased the policy rate by 100 basis points to 14.5% percent. This is the first time the Central Bank has increased the key rate since May this year, after being maintained at 13.5% for two consecutive times. The rate, which is of keen …

Volta Fair 2021: Senyo Hosi urges youth to consider investing into agro processing

Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors Senyo Hosi has urged the youth of the Volta Region to also consider investing in other parts of the agricultural value-chain instead of just focusing on traditional farming. According to the Businessman who is also the founder of an indigenous agric social business in …

SEC to open hearing for some former directors of defunct FMCs

The Securities and Exchange Commission (SEC) has initiated processes of hearing former Directors of the defunct Fund Management Companies (FMCs), whose Companies licenses were revoked. Mrs Deborah Mawuse Agyemfra, Deputy Director-General, Legal of SEC, explained that per the rule of natural justice, the Commission needed to hear their case and after the hearing, a decision …

Government’s e-levy policy ill-timed – Telecoms chamber

The Chief Executive Officer of the Ghana Chamber of Telecommunications, Ken Ashigbey, has said that the introduction of the 1.75% levy on electronic financial transactions is ill-timed. He said the chamber was not consulted by the government on the proposal before the announcement was made in Parliament on Wednesday, November 17, 2021. “When we got …

Most MSMEs unwilling to pay more taxes even for better government services – CDD report

The majority of Medium, Small and Micro Enterprise (MSME) owners in Ghana are unwilling to pay more taxes even if it means benefiting from more improved government services. This is according to the report of a survey conducted by the Ghana Center for Democratic Development (CDD-Ghana). The report titled ‘Access to Justice and Public Services, …

Reversing 50% bench mark value will be suicidal – GUTA

The Ghana Union of Traders Association (GUTA) has warned any reversal of the 50 percent bunch mark policy will bring untold hardship on Ghanaian traders. The Association of Ghana Industries (AGI) and Ghana Union of Traders Association (GUTA) are in a banter over the proposed review of the 50% bench mark for some imported products. …