BUSINESS NEWS

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 …

The Finance Minister Mr Ofori Atta is expected to present the budget statement for the 2022 fiscal year in Parliament today Wednesday November 17. Earlier, he assured new graduates from the University of Professional Studies, Accra (UPSA) and all Ghanaians youths across the country that the budget statement of the government …

Economic analysts want Ghanaians to lower their expectations of freebies in the 2022 budget expected to be presented before Parliament on Wednesday, November 17, 2021. According to them, this is due to the fact that the Ghanaian economy at the moment is broke. The Director of Business Operations at Dalex …

The 2022 Budget Statement and Economic Policy of Government will focus mainly on reducing unemployment and expanding on the economy’s recovery from the COVID-19 pandemic, the Ministry of Finance has said.   In a statement, the ministry said the budget will also focus on import substitution, digitalisation of the economy, …

The Public Interest and Accountability Committee (PIAC) has withdrawn from a partnership with the Economic and Organised Crime Office (EOCO) aimed at fighting corruption related to disbursement of petroleum revenue. The decision was taken after a review of the deal by the new board of PIAC. PIAC is the statutory body with oversight responsibility …