While there has been increasing pressure from stakeholders on micro finance institutions in the country to quote realistic returns on investments (RoI), the absence of a system to regulate has made some of them still use high RoIs in wooing unsuspecting investors.
The power crisis of 2012-2015 had a huge negative effect on manufacturing firms in Ghana, a study by the Institute of Statistical, Social and Economic Research (ISSER) of the University of Ghana has revealed.
The proposed Ekumfi fruit processing factory in the Central Region will create more than 5000 jobs for the country's workforce, when it is completed in mid-2018.
The Ghana National Chamber of Commerce - GNCC has called on the government to step up the level of sensitization of industry stakeholders on the paperless system introduced for Ports in the country.
Government said it has no intention of reviewing the tax rates or introducing even new ones despite missing out on revenue target.
The country failed to realize its revenue targets for the first six months of this year. The amount realized was GH₵3.1 billion short of the GH₵20.3 billion target.
There are fears that the development could force government to re-introduce the recent taxes that were abolished or even introduce new ones.
However in an interview with JoyBusiness during the 7th National Taxation Conference in Accra, Deputy Minister of Finance, Kweku Kwarteng said government has no intention to do that.Â
He noted “we have given businesses and the private sector the opportunity to expand in order to strengthen the economic base of the country.â€
{loadmodule mod_banners,nativeads}
Government in the 2017 budget review abolished some taxes in order to reduce the burden on businesses and help them to expand.
“Despite its failure to meet revenue targets for the first half of the year, it has no intention of reviewing these tax policy measures†he concludes.
Kweku Kwarteng is optimistic that the business community will respond positively to the various tax cuts. He also revealed that Government has begun engaging tax experts and stakeholders to ascertain the impact of the tax reforms introduced in the 2017 budget so far.
The tax measures implemented since the beginning of the year are among others expected to empower the private sector in creating jobs and grow the economy. The three-day conference is under the theme, Tax reform: Its effect on Investments, growth and Development.
Founder of Celltel Limited, now Kasapa Telecom Limited, Prince Kofi Kludjeson, has said he is in the process of taking over the dying company, rebranding it to Celltel and reviving it to take its place of pride in Ghana's telecom industry.
Ghana’s Producer Price Index – which measures average changes in the prices of goods and services in the economy over a period, dropped by 2% for July 2017.
The Ghana Tourism Authority - GTA, has rolled out its single window system to facilitate monitoring of revenue generated as well as the general growth of the industry.
