BUSINESS NEWS

  Parliament has rejected government’s 2022 Budget Statement and Economic Policy read in the House by the Finance Minister, Ken Ofori-Atta, last week. A walkout by the Majority from Parliament on Friday, November 26, 2021, did not prevent the House from continuing with the business of the day. Members on …

The Bono East Regional Director of Ministry of Food and Agriculture (MOFA), Madam Cecilia Kagya has said the country will not experience any shortage of food in 2023 as many Ghanaians are suggesting.   “We thank God very much that this year the country has experience a long range rainfall …

The founder of the defunct Capital Bank William Ato Essien has been reported sick and has been diagnosed of “Obstructive Sleep Disorder.” Mr Essien, and two others are standing trial for some 23 charges and have been asked to open their defence. In court on Thursday, November 25, 2021, Mr …

On the Interbank forex rates from the Bank of Ghana today, November 23, 2021, the Ghana Cedi is trading against the dollar at a buying price of 5.9083 and a selling price of 5.9143. The figures were the same as yesterday’s. At a forex bureau in Accra, dollar is being bought …

The Ghana Revenue Authority (GRA) has advised defaulting Oil Marketing Companies(OMC’s) to honour their tax obligations by 3 December or face prosecution. In a press statement cited by MyGhanaMedia.com says the GRA will not hesitate to publish the names of defaulting OMC’s, and their managers if they fail to meet the deadline …

Ghana’s public debt stock hit ¢341.8 billion as of the end of September, 2021, the November ,2021 Bank of Ghana Summary of Economic and Financial Data has revealed. This is equivalent to 77.8% of Gross Domestic Product (GDP) and confirms concerns by analysts and economists that the country’s debt has …

The Chamber of Petroleum Consumers (COPEC), is disappointed that the government did not propose any policy in the 2022 budget statement to address the continuous hikes in fuel prices. COPEC’s grievance comes on the back of another increment in the price of fuel from GH¢6.90 per litre to GH¢6.99 per …

Cycling to work may soon be, if not already, an imperative as the consistent jump in fuel prices in the country since September has secured Ghana a top spot on the list of African countries with very expensive fuel prices. With an African average of GH¢ 5.978 ($0.98) per litre, …

The US ambassador to Ghana, Stephanie Sullivan, has joined the deputy minister for trade and industry Michael Okyere Baafi to inaugurate the new Air Conditioner and Refrigerator Test Laboratory at the Ghana Standards Authority (GSA). The US government’s Millennium Challenge Corporation (MCC) gave US$1.84 million in funding for the project …

Finance Minister Kenneth Nana Yaw Kuntunkunuku Ofori-Atta has announced a new levy to be charged by government in 2022 on all electronic transactions to widen the tax net and rope in the informal sector.   “It is becoming clear there exists enormous potential to increase tax revenues by bringing into …