Business

The Ghana Revenue Authority (GRA) has defended its decision to impose taxes on bloggers, brand influencers, MCs, and others. The taxation of income generated in the digital realm has been a topic of discussion in various countries, including Ghana. While traditional sources of income are relatively straightforward to tax, digital earnings present distinctive challenges. The GRA’s decision to consider taxing bloggers and …

The CEO of defunct Menzgold Ghana Limited, Nana Appiah Mensah, has been granted bail to the tune of GH¢500 million with four sureties, none to be justified. He has also been directed to deposit his passport at the court registry as part of the bail conditions. This follows his plea of not guilty to 39 counts of fraud and money …

Energy Minister, Dr. Mathew Opoku Prempeh, as part of efforts to ensure a robust energy sector that will support Ghana’s economic transformation, has led a Ghanaian delegation to the World Bank. According to him, the engagement with the World Bank is about the World Bank’s support in the context of our Energy Sector Recovery Programme (ESRP). Explaining how important the discussions with …

As of July 2023, the inflation rate stood at 43.1% but dropped to 40.1 in the month of August. Professor Samuel Kobina Annim, the government statistician, announced this during a press conference. Statistics however also indicate a decline in food inflation from 55.0% to 51.9% in July. Meanwhile, Non-food inflation has also witnessed a drop from 30.9% to 2.9% and …

The Coalition of Transport Unions and Associations has asked the government to scrap nuisance taxes else they will increase transport fares by 20% in the next 13 days. The Coalition of Transport Unions and Associations earlier threatened to increase transport fares by 20% if the government failed to scrap some taxes from the petroleum price build-up. The National Public Relations …

The recent unannounced visit by Ghana’s Minister of Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, to the Passport Office in Accra has brought attention to the issue of overpricing and corruption in the passport acquisition process. The minister expressed her dismay at the extortion of unsuspecting applicants and took action by sacking staff members involved in corrupt practices. The minister …

The Economic Community of West African States (ECOWAS) has condemned attacks by armed groups in Niger which have led to the death of several Nigerien soldiers. On July 27, soldiers, primarily from the presidential guard, seized Niger’s President Mohamed Bazoum, leading to the dissolution of the constitution, suspension of all institutions, and the closure of the nation’s borders. President Mohamed …

The former President of the Chartered Institute of Taxation Ghana and a Fellow of the Institute of Chartered Accountants Ghana, Mike Kofi Afflu, has petitioned the Auditor-General to probe the transfer of GH¢52.5 billion into an unknown account in 2020. According to him, in a letter dated October 5, 2020, from the Audit Service to the Managing Director of GCB Bank Plc, the Auditor-General, …

In 2022, Ghana experienced a significant trade imbalance, as highlighted by the inaugural Trade Vulnerability Report published by the Ghana Statistical Service. According to the report, Ghana’s imports surpassed its exports by GH₵‎4.5 billion, underscoring a substantial economic challenge. The most striking contrast emerged in September, during which imports surpassed exports by over GHS4 billion. “In nine out of the 12 …

The Bank of Ghana (BoG) has justified the construction of a new headquarters, insisting that its current head office, built in the 1960s, is no longer fit for purpose. The National Democratic Congress (NDC) at a press conference on Tuesday, August 8, accused the Bank of Ghana of building a new head office at an alleged amount of $250 million. …