BUSINESS NEWS

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 …

The founder of the Danquah Institute, Gabby Asare Otchere-Darko, has served notice to Ghanaians to be ready for further depreciation of the local currency, the Ghana Cedi due to the Russia – Ukraine conflict. The political strategist said other African currencies will suffer the same fate as the US dollar …

The Economic and Organised Crime Office has cautioned the public against online investment schemes called Royal Gardens Network and Hubtel Mobile Lending, which operate Ponzi schemes.   In a statement, it said checks have established that Royal Gardens Network and Hubtel Mobile Money Lending have not been registered to operate …