Category: Business

  • Steep depreciation of cedi shows mid-year budget review failed to win back investor confidence – Mahama 

    Steep depreciation of cedi shows mid-year budget review failed to win back investor confidence – Mahama 

    Ex-President, John Mahama has said the steep depreciation of Ghana’s cedi shows that the mid-year budget review did not achieve its planned goal.  According to him, investors still do not have confidence in the Ghanaian economy resulting in it being downgraded further.   “There appears to be no end to the problems with the Ghanaian economy, […]

  • Our businesses are “bleeding to death” – GUTA

    Our businesses are “bleeding to death” – GUTA

    The Ghanaian Union Traders Association (GUTA) says their businesses are “bleeding to death” and are therefore calling on the government to act now to save the situation. According to GUTA, the depreciation of the cedi against other major trading currencies is getting out of hand, and the increase in the monetary policy rate is also […]

  • Close to 500k companies operating illegally to be expunged – Registrar of Companies

    Close to 500k companies operating illegally to be expunged – Registrar of Companies

    The newly launched Office of the Registrar of Companies (ORC) is set to delete close to 500,000 companies from its database for not renewing their existence following the expiration of their registration, the Registrar of Companies, Jemima M. Oware, disclosed. The exercise, Ms. Oware explained, would encourage good corporate governance, as well as reduce the […]

  • FDA opens Marwako eatery after over a month of closure

    FDA opens Marwako eatery after over a month of closure

    The Food and Drugs Authority(FDA) has lifted the suspension it placed on Marwako Fast Foods following the food poisoning incident. A copy of a letter dated July 08, 2022, said: “Following the verification inspection of your facility at Abelemkpe to ascertain the level of implementation of corrective prevention actions (CAPA), the Food and Drugs Authority […]

  • GIPC and OT signs MoU

    GIPC and OT signs MoU

    Ghana Investment Promotion Centre (GIPC) has signed a Memorandum of Understanding (MoU) with America’s largest minority-led black-owned technology business, Overland Tandberg. The MoU seeks to develop seven (7) strategic areas between Ghanaian and U.S tech firms to bridge the digital and diversity divide to attract as many businesses as possible to set up in Ghana. […]

  • Full roll out of E-levy begins July 1

    Full roll out of E-levy begins July 1

    The Ghana Revenue Authority(GRA) has served notice of full implementation of the Electronic Transfer Levy effective July 01, 2022. This was contained in a letter dated June 22, 2022 to all Charging entities reminding them of the full implementation of the E-levy. “This is to officially remind you that the full implementation of the Electronic […]

  • We are committed to empower local industries to compete globally – Bawumia

    We are committed to empower local industries to compete globally – Bawumia

    The Vice-President, Dr Mahamudu Bawumia, has reiterated the government’s commitment to empowering indigenous industries in order to get them ready for the emergence of what he called, a new global architecture. Speaking at the 25th anniversary of the establishment of Tropical Cable and Conductor Limited in Tema on Wednesday (22 June), Bawumia said the ongoing global […]

  • Salaries paid through mobile money will attract E-Levy – GRA

    Salaries paid through mobile money will attract E-Levy – GRA

    Workers who receive their salaries through mobile money platforms may have to brace themselves. This is because a portion of their money is expected to be affected by the recently passed E-Levy. According to the Ghana Revenue Authority (GRA), the manner in which the controversial law was crafted makes it imperative that the tax is […]

  • Bawumia to speak on Ghana’s economy today

    Bawumia to speak on Ghana’s economy today

    Vice President, Dr. Mahamudu Bawumia will later today speak on the economic situation of the country. In the wake of continuous price increase in fuel and commodities and the depreciation of the cedi, there have been several calls from political opponents and section of Ghanaians for Dr. Bawumia who’s leader of the Economic Management Team […]

  • Mobile money loses GH¢10bn in value as e-levy implementation nears

    Mobile money loses GH¢10bn in value as e-levy implementation nears

    Even before the Electronic Transaction Levy (E-levy) takes effect next month, available data show that the mobile money platform has lost about GH¢10billion in value between November 2021 and January 2022 – a development that raises serious concerns about the new tax’s ability to rake in the anticipated revenue. According to the Summary of Economic […]