Business

The Managing Director of the Agricultural Development Bank (ADB) PLC, Alhassan Yakubu-Tali has emphasised the need to speed up financial inclusion through digitalisation. This, he said, will help bring financial services to people who don’t have access to banks. He pointed out that people without bank accounts should be seen as potential customers. By developing strong digital infrastructure, these people …

The Bank of Ghana (BoG) has reviewed rules covering advance payments for imports of goods and services to the country. This was contained in a statement published by the central bank to regulate the sector. The review will take effect from July 1, 2024. The BoG said the decision was taken as part of measures to clarify the procedures that …

The Special Aide to NDC flagbearer John Mahama has confirmed that if the party wins the upcoming election, it will invest $500 million to combat the illegal mining menace, known locally as ‘galamsey’. Joyce Bawa-Mogtari told Evans Mensah on PM Express that this issue is of great concern, and additional state resources will be invested to address it. The former …

The Supreme Court has by a majority decision upheld the Food and Drugs Authority (FDA)’s directive which prevents celebrities from endorsing alcoholic drinks. This brings an end to a highly publicised nineteen-month legal suit filed against the Authority by the CEO of Black Kulcha Music, Mark Darlington Osae. Delivering an abridged version of the ruling at the apex court on …

The Ministry of Health has announced it has received funds from the Ministry of Finance to clear 64 Global Fund containers currently held at Tema Port. The total amount of GH₵7,429,694.39 will be used to cover demurrage fees and third-party charges, ensuring the prompt release of these vital health supplies. This follows warnings from the Ghana Medical Association (GMA) about …

Kwame Jantuah, a member of the Convention People’s Party (CPP) and a private legal practitioner, has expressed discontent about the selective application of the prosecutorial powers of the Attorney-General on issues of public officials causing financial loss to the state, citing the botched national cathedral project. Lawyer Jantuah questioned the lack of interest on the part of both the Attorney-General …

Rise and Fall of the Cedi: Factors Leading to the Depreciation of the Cedi in Ghana 2024 Factors Leading to the Depreciation of the Cedi in Ghana in 2024.BY DR JULIUS KWAKU KATTAH(FCE) Over the past several years, the cedi has been depreciating against major currencies, including the US dollar. This depreciation has been driven by several factors, including: Increased …

By: Ruth Tang President Akufo-Addo’s release of the full KPMG report on Wednesday, May 22, sheds light on Strategic Mobilisation Ghana Limited’s (SML) tax liabilities to the Ghana Revenue Authority (GRA). Details of the report by KPMG has it that, SML owes the GRA a total of GH¢ 31.88 million for unpaid taxes spanning eight months of service provision. This …

The President of the Republic of Ghana Nana Addo Dankwa Akufo-Addo has appointed Joe Ghartey as the new Board Chair of the Ghana Revenue Authority (GRA). Mr Ghartey who is the current Member of Parliament (MP) for Essikado-Ketan replaces Dr. Tony Oteng Gyasi. Mr Ghartey is tasked with reforming the GRA and streamlining its activities The Dr Anthony Oteng-Gyasi-led board …

The list of 42 companies to benefit from approximately $335,072,712.13 tax exemptions under the One District One Factory (1D1F) initiative has popped up. The Exemptions Act, 2022 (Act 1083) was laid in Parliament by the former Finance Minister, Ken Ofori-Atta, in 2022. This was after the Ministry commenced processes to secure the waivers to boost the companies. The Chinese-owned company, Sentuo …