Prime Business, Economic and Financial News


Gov’t explains why they removed VAT on local textiles

The Ministry of Trade and Industry has explained why government have zero-rate Value-Added Tax, VAT, on local textiles for a period of three years.

We can’t subsidize power, allow the market forces to playout -VRA

The Volta River Authority, VRA, said it is not in the position to reduce the price of power for consumers.

Mobile Money transactions exceed target for 2018

The Ghana Interbank and Payment Settlement Systems, GhIPSS, has disclosed that it has exceeded its Mobile Money Interoperability transaction target for 2018.

AngloGold Ashanti reopens Obuasi mines, restricts certain jobs for locals

Gold mining company, AngloGold Ashanti, has reopened its Obuasi mines with steps to restrict certain jobs at the mines for the locals.

Majority shareholder, Seidu Agongo refutes claims by BoG for the collapse of Heritage Bank.

Majority shareholder of defunct Heritage Bank, Seidu Agongo has dismissed the four counts on which his Bank, Heritage Bank, was collapsed by the Bank of Ghana last month.

Loan defaulters of UT, Capital Bank given 3-month ultimatum to clear debts

Loan defaulters of defunct UT and Capital banks have been given a 3-month ultimatum to redeem their indebtedness to the banks.

SEC considers licensing cryptocurrency

Online trading currency, cryptocurrency, may in the near future be accepted as legal tender in Ghana if the Securities and Exchange Commission, SEC, is able to find a possible framework for which the…

Gov’t suspends tax stamp policy on textile

Government has suspended plans to begin the implementation of the tax stamp policy for the textile industry which was slated for this month.

National Insurance Commission to introduce more compulsory insurance products this year

The National Insurance Commission, NIC, has hinted of plans to introduce more compulsory insurance products into the country.

Cocobod requires GHC1.5bn to meet crop target

The Ghana Cocoa Board, COCOBOD, will require GHC1.5billion to address its financing gap for the 2018/2019 crop season, a parliamentary report has revealed.

Rural Banks call for a reduction in corporate tax

Rural and Community Banks in the country are calling for a review of the corporate tax which stands at 25%.

Auditor General recovers GH¢64m from financial infractions between 2013,2017

The Auditor General’s Department has revealed that the department recovered a sum of GH¢64m from individuals, institutions and companies who committed financial infractions against the state.

Reality Check: Why has Zimbabwe hiked petrol prices?

There have been widespread protests in Zimbabwe's largest cities following an increase in the price of fuel.

Mining Companies may not lose their license in the case brought against them-Lawyer

The 35 mining companies sued by some MPs are likely not to forfeit their license.

Telecos seek redress at Telecom Tribunal over NCA sanctions

The four Mobile Network Operators, MNOs; AirtelTigo, Glo, MTN and Vodafone, sanctioned by the National Communications Authority, NCA, for their non-compliance with various Quality of Service, QoS,…

Ghana Water Company Limited to increase water tariffs

Water tariffs will in the coming days be increased if the Public Utilities Regulatory Commission, PURC, grants the proposal of the Ghana Water Company Limited.