BUSINESS NEWS

Nana Kwame Bediako alias Freedom, a businessman has responded to the caution statement issued by the Bank of Ghana (BoG) against the impending launch of a cryptocurrency named “Freedom Coin” which belongs to him.   A statement issued by the central bank on Wednesday March 9 cautioned that neither this …

The World Bank has said even though COVID-19 has not helped Ghana’s economic standing, the situation started getting bad before than pandemic hit.   Speaking at the 65th Independence Day Lecture held at the Economics Department of the University of Ghana, Legon, on Monday, March 7, 2022, on the ‘state …

An energy strategist, Dr. Yusuf Suleman, has welcomed the privatisation of the Tema Oil Refinery, as a means of dealing with the perennial challenges that affect the company.   Speaking in a discussion on fuel prices on The Probe on Sunday, he expressed concern about the inability of the company …

Head of Economics Department at the University of Ghana, Professor William Baah Boateng has called on the government to implement more aggressive measures to cut down on government expenditure. According to him, it was about time the President and or the Finance Minister introduce new austerity measures to reduce the …

Liquefied Petroleum Gas (LPG) price will experience a 5% adjustment from today, March 3, 2022. This follows the restoration of the Price Stabilisation and Recovery Levy (PSRL) on fuel products. The restored PSRL is ¢0.16 pesewas per litre on petrol, ¢0.14 per litre on diesel, and ¢0.14 per kilogram on …

The Traders Advocacy Group has directed its members to increase the prices of goods and services by 80 percent in retaliation to the government’s reversal of the 30 percent benchmark value discount at the ports.     The General Secretary of the group, Nana Poku, told journalists on Wednesday, 2 …

The Electronic Transaction Tax (E-Levy) has become a household name dominating the Ghanaian airspace in the last couple of weeks. The government has so far done a lot in its bid to pass the levy but is met with strict resistance from the citizens and the opposition members of parliament …

The Finance Ministry has admitted that it may struggle to pay salaries of public sector workers in the long run if the country’s revenue base, is not increased. Last week, the Speaker of Parliament, Alban Bagbin noted that government may not be able to pay salaries in the next three …

The finance minister, Ken Ofori-Atta, after the 2022 budget reading has been on the hot seat as a result of the inclusion of an electronic transaction levy that seeks to tax Ghanaians who transact businesses electronically.     The ministry of information in collaboration with the ministry of finance has …

The Ghana cedi is now the worst-performing currency on the African continent just two months into 2022. This is because it has depreciated by about 7.6% to the dollar from January 1, 2022 to February, 25, 2022. The local currency has therefore overtaken the Zambian kwacha, which was the worst-performing …