BUSINESS NEWS

Flagbearer for the NDC, John Mahama, says taxes on betting will be among the taxes his government will review when voted into power. The bill to tax sports betting and lottery was passed in March 2023. Per the bill, ten percent of all winnings from sports betting and lotteries is …

The Ghana Integrated Aluminum Development Corporation (GIADEC) says the mining of about half a million tonnes of bauxite from the Nyinahin range in the Ashanti Region will soon begin. This follows the successful completion of the Mineral Resource Estimate (MRE) and social impact analysis to ensure responsible mining. According to …

Finance Minister Kenneth Ofori-Atta on Wednesday, November 15, shared the government’s abridged version of the 2024 Budget Statement and Economic Policy of Government. He told Parliament, there is a developed and more detailed update on sectoral performance in a ‘Volume II’ document. Below is the full text of his presentation; …

In order to develop self-sustaining jobs, 400 youth in the Akyem Achiase Constituency of the Eastern Region have been provided training in employable skills.   SKILLS TRAINING The effort to empower women to start their own businesses and achieve financial independence was financed by members of parliament for the Achiase …

The Ministry of Finance has dispelled claims of a new tax policy where shippers are required to obtain an Electronic Cargo Transit number. There were reports derived from a letter which purportedly suggested that all shipments to Ghana, including transit shipments are required to obtain an Electronic Cargo Transit number …

On November 1, 2023, the Abossey Okai Spare Parts Dealers Association has declared their intention to hold a sit-down strike. The primary objective of this strike is to underline their demand for the Ghana Revenue Authority (GRA) to revoke the implementation of the Electronic Value Added Tax (E-VAT) compliance. The …

Nana Appiah Mensah, the former Chief Executive Officer of the now-defunct Menzgold, has declared his intention to revisit the police in order to reclaim the money he had entrusted to them. His surprise stemmed from the revelation that the GH¢5 million, designated for distribution to verified customers, had been placed …

Importing food products into Ghana comes with a hefty price tag, as importers face a multitude of taxes and levies that contribute to the overall cost of these essential goods. The list of charges is extensive, and when coupled with quarterly increases in utilities and substantial fees and charges by …

Ghana – once touted as a trailblazing African economic success story – is facing an unprecedented financial crisis. This week, hundreds of protestors took to the streets in the capital Accra, calling on the governor of the Bank of Ghana and his two deputies to resign over the loss of …

The International Monetary Fund (IMF) and Ghana have reached a staff-level agreement on economic policies and reforms to conclude the first review of the country’s three-year programme under the Extended Credit Facility. This agreement is subject to approval by the IMF’s Executive Board and receipt of necessary financing assurances. The …