BUSINESS NEWS

It was interesting to hear Bank of Ghana (BOG) officials pat themselves on the back because year-on-year inflation had dropped to 26.4% in November 2023, from 35.2% in October 2023 and 54.1% in December 2022. This trend should have been expected, I thought, because of the massive price increases and …

The reconstruction and expansion of the Accra-Tema Motorway commenced on Tuesday, January 2, 2024. The 19.5-kilometer project involves a 10-lane span from the Tetteh Quarshie roundabout to the Tema roundabout. Maripoma Enterprise Limited, a Ghanaian-owned construction company, is supervising the project. During a tour of road projects in Accra, the …

The President, Nana Addo Dankwa Akufo-Addo, has ordered the immediate suspension of the revenue assurance contract signed between the Ghana Revenue Authority (GRA) and Strategic Mobilization Ghana Ltd (SML). He has also appointed the Audit, Tax, and Advisory Services firm, KPMG, to conduct an immediate audit of the transaction. In …

Some Oil Marketing Companies (OMCs) have cut prices of petroleum products at the pumps, beginning today, January 1, 2024. This is the second consecutive time fuel prices is going down. One of the major players, Star Oil, took the lead by selling a liter of petrol at ¢11.24 from the …

The Ministry of Works and Housing is set to sell its low-cost houses in Tamale to willing buyers in fulfilment of what it says is Government policy. In a letter dated November 8, 2023, and signed by the Acting Chief Director of the Ministry sighted by MyNewsGh.com, the evaluation of …

In a public notice released on Thursday, December 28, 2023, the Ghana Revenue Authority (GRA) has informed the general public, particularly lotto patrons and operators, about the commencement of the implementation of a 10% withholding tax on the gross winnings from all lotteries, including lotto, betting, gaming, and other games …

The Ghana Private Road Transport Union (GPRTU) has threatened to increase transport fares by 60% in 2024 as soon as the Emission Levy Bill takes effect in January 2024. The Spokesperson of the GPRTU, Abass Imoro, made this known in an interview on JoyNews. The Emissions Levy Bill passed by …

The Driver and Vehicle Licensing Authority (DVLA) has phased out its old manual system of vehicle registration and other related services. In a statement issued on Wednesday, DVLA noted that to satisfy its goal of eliminating identity theft and false representation in providing these services, it had migrated all services …

The Ghana Online Drivers Union (GODU) is threatening a nationwide strike should stakeholders fail to engage leadership on the introduction of the Vehicle Income Tax (VIT) for ride-hailing drivers. This follows an announcement by the Ghana Revenue Authority (GRA) that ride-hailing vehicle owners will start paying the new tax effective …

The Executive Director of the Institute of Energy Security (IES), Nana Amoasi VII, has described as ‘thievery’ the Finance Ministry’s 10-year contract with Strategic Mobilisation Ghana Limited (SML). This comes after Strategic Mobilisation Ghana Limited was awarded an additional contract worth up to ¢24 million per month. The contract calls …