Business

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 …

Story by Angelina Tukpe Ghanaians are grappling with soaring food prices, a consequence of increased transport fares driven by rising fuel costs. This surge in transportation expenses has forced market traders to raise prices, making it difficult to maintain profitability while keeping goods affordable. As a result, consumers are facing significant increases in the cost of essential food items, adding …

By Wilhelmina Oddoye Ghana’s efforts to reach a deal with two bondholder groups (one “international” group of Western asset managers and hedge funds, and another including regional African banks) to restructure $13 billion of international bonds has proven futile. The regional African bondholder group had rejected part of the proposed rework, including an option to retain the original value of …

By Janet Dumas March inflation has increased to 25.8 percent, a rise from the 23.2 percent observed in February 2024, indicating a 2.6 percentage point surge. The inflation rate in food also rose, moving from 27.0 percent in February to 29.6 percent in March. Meanwhile, non-food inflation for March was reported at 22.6 percent. Government Statistician Professor Samuel Kobina Annim …