Business

The Electricity Company of Ghana (ECG), has clarified that the new Value Added Tax (VAT) on electricity consumers beyond the lifeline threshold is not being charged yet. The ECG and the Northern Electricity Distribution Company (NEDCO) on January 1, were directed by the Finance Ministry to implement the 15 percent …

Inflation is expected to decline to 22.4% in January 2024 from 23.4% in December 2023, IC Research has predicted in its latest report. According to the research firm, improved foreign exchange outturn in late December 2023 into early January 2024 would sustain the lid on price pressures. “Our forecast shows a …

The Trades Union Congress (TUC) has given the government a seven-day ultimatum to withdraw the imposition of Value Added Tax (VAT) on electricity consumption above lifeline. In a letter dated January 1, Finance Minister, Ken Ofori-Atta, directed the Electricity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDCO) to implement the VAT, aiming …

Trade and Industry Minister, KT Hammond, has described as troubling the decision of cement producers and importers to increase prices. The Adansi Asokwa MP says the development is a “conspiracy of a cabal of cement producers and importers,” which should be condemned. According to him, the government has provided the …

Ghana’s Cocobod is facing delays in securing its usual syndicated loans and has opted to borrow between $150 million to $200 million from cocoa traders to partially finance bean purchases for the 2023/24 season. Fiifi Boafo, the regulator’s public affairs manager, informed Reuters that the challenges in obtaining loans from …

The Domestic Services Workers Union (DSWU) in Ghana with the support of the International Domestic Workers Federation (IDWF) has organized a three-day workshop training to support a ratification campaign and implementation of the International Labour Organization (ILO) Convention 189. The workshop aimed at empowering domestic workers and enhancing their rights …

The Chief Executive Officer (CEO) of defunct Menzgold Ghana Limited, Nana Appiah Mensah, is not happy with the decision of the Ghana Police Service to lodge some GH₵2.5 million he gave to the law enforcement body for disbursement to his aggrieved clients, at the Bank of Ghana. NAM1 has threatened …

The Ghana Cocoa Board (COCOBOD) has collapsed and must be done away with, President of the Concerned Cocoa Farmers Association, Nana Boateng Bonsu, has indicated. Last week, Finance Minister Ken Ofori-Atta said his office and the Bank of Ghana were liaising to set up a monitoring desk at COCOBOD to …

The Minister for Sanitation and Water Resources, Freda Prempeh, has blamed the extent of damage caused by the Akosombo Dam spillage on the refusal of residents living along the dam to evacuate prior to the spillage. The devastating impact of the dam spillage has displaced over 20,000 people in the …

The Volta River Authority (VRA) has disclosed that it has spent over GH¢20 million on relief items for residents affected by the Akosombo Dam spillage. The VRA indicated that the amount was used to purchase foodstuffs, mattresses, and medical supplies. A deputy chief executive officer of the VRA, engineer Ken …