Today's Ghana Business, Banking and Economic news

Member of Parliament for Bawku Central, Mahama Ayariga says Ghana stand the chance of saving GHS2billion yearly if the country totally abolishes sole sourcing and restricted tendering from the law books.

Businesses in Ghana should be ready to pay more taxes to the government for the rest of 2018, at least two more taxes are set for implementation beginning next month; March.

An information security expert Del Aden says Ghanaian businesses stand to lose 100 million dollars from cyber-crime in 2018 if pragmatic measures are not put in place to minimize it.

Government has announced that it will sanction businesses that fail to comply with the March 1st deadline for the implementation of the Tax Stamp Policy.

Government is expected to release the seized heavy mining equipment belonging to Exton Cubic Company Ltd, this week, a source from the Attorney General’s department has disclosed.

Former Chief Executive of Unilever Ghana, and now Board Chairman of Standard Chartered Bank Ghana, Dr. Ishmael Yamson has tasked government to pursue a ‘Ghana Beyond Debt’ agenda in addition to the ‘Ghana Beyond Aid’ project. 

Parliament of Ghana has today February 15, 2018, passed the Special Petroleum Tax Amendment Bill to reduce the tax from 15 percent to 13 percent.

The inflation rate for January has seen a 1.5 percentage decrease from the 11.8 percent recorded in December 2017 to 10.3 percent in January 2018.

Britain’s export finance agency will add the naira to its list of “pre-approved currencies”, allowing it to provide financing for transactions with Nigerian businesses denominated in the local currency.

The ARB Apex Bank, the apex body for Rural and Community Banks (RCBs), is to raise GH₵100m to support the activities of RCBs nationwide, the bank’s Managing Director, Kojo Mattah, has confirmed.

President Nana Akufo-Addo has appointed Elsie Awadzi as the 2nd Deputy Governor of the Bank of Ghana.

President of Imani Africa, Franklin Cudjoe has described as baseless, President Akufo-Addo's touting of his government's reduced reliance on sole-sourcing during his State of the Nation Address.

Ghana Grid Company, GRIDCo, will soon start the exportation of some 50 megawatts of electricity to neighboring Burkina Faso once work on the interconnection lines has been completed.

Association of Ghana Industries, AGI, has attributed the uncompetitiveness of businesses in Ghana to the high tariffs being suffered by this business owners.

ECG privatization- Ghana risks losing 119 million dollars under the Power Compact II, if the government does not take steps to meet certain requirements by September this year.