BUSINESS NEWS

The Member of Parliament for Akim Abuakwa South, Samuel Atta Akyea, has urged the Finance Minister, Ken Ofori-Atta, to consider stepping down for both his own sake and the good of the government. The calls for Ofori-Atta’s resignation have been growing for months, fueled by the country’s ongoing economic challenges. …

Two executives of the General Transport Petroleum Chemical Workers Union (GTPCWU) have been interdicted over the controversial deal between the Tema Oil Refinery(TOR) and Torentco. The action which was taken by the TOR Board of Directors takes immediate effect. One of the interdicted persons, Anthony Joojo Koomson, who is the …

The Northern Electricity Distribution Company(NEDCo), distributors of electricity in the northern sector of Ghana, have announced scheduled power outages in some parts of the Upper East and North East Regions to enable the company to carry out maintenance work on some of its high tension poles between Navrongo and Sandema. …

The executive board of the International Monetary Fund (IMF) is expected to approve the second tranche of its US$3 billion credit facility to Ghana on 19 January 2023. This follows Ghana’s ability to secure a debt treatment from its official creditors, which has led to the restructuring of US$2.5 billion …

The Ghana Private Road Transport Union (GPRTU) has refuted media reports claiming that it has reversed its decision to raise transport fares by sixty percent or more following the passage of the Emission Levy Bill. The recently passed Emissions Levy Bill by Parliament imposes an annual fee of GHC100 on …

The government requested the Ghana Revenue Authority (GRA) to liaise with the two power distribution companies to transfer Value Added Tax (VAT) generated from consumers who have exceeded their lifeline power consumption. In a press release, Finance Minister, Ken Ofori-Atta directed that the Electricity Company of Ghana (ECG) and the …

Deputy Energy Minister Andrew Egyapa Mercer has announced that the challenges leading to recent power outages in the country have been completely resolved. He assured Ghanaians that there would be no more intermittent power outages, commonly referred to as ‘Dumsor,’ from Thursday, January 11, 2024. In an interview with Bernard …

At least sixteen foreign exchange (FX) brokers have been granted approval by the Bank of Ghana to commence operation on the Ghana Interbank Forex Market effective 1 January. A statement issued by the BoG on Friday (5 January) says the move is in accordance with section 3.13.1 of the Ghana …

Ghana Union of Trade’s Associations (GUTA) is urging policymakers in goods and services to reduce the cost of duty fees on goods, including shipping line charges, transportation costs, and utility tariff regimes. The Association attributed the significant increase in goods in the country to these charges and urged policymakers to …

20240107_164534Ghana’s current economic problems have put Ghanaians in a situation where their incomes must match up with the current inflation rate. This also means that if incomes remained the same while prices of goods and services increased then consumers may run into debt or reduce their spending. Even though the …