President’s dismissal of GEPA CEO improper – Audit Service

Internal auditors have described President Akufo-Addo’s dismissal of the former Executive Secretary of the Ghana Export Promotion Authority, Gifty Klenam as “irregular and improper”. Referring to the Ghana Export Promotion Council Act, the internal auditors held the view that Gifty Klenam can only be sacked by the Minister for Trade and Industry and not the […]

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IMF highlights emerging threats to Ghana’s programme in review statement

An official statement issued by the IMF after completing the seventh review visit to Ghana, the Fund has highlighted key threats to the country’s ongoing programme. The Fund, for instance, took issues with Ghana’s figures in terms of revenue generation, expenditure and tax exemption measures. The review statement, published below, was, however, quick to add […]

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$50billion century bond to be captured in 2019 budget – Ken Ofori Atta

Finance Minister, Ken Ofori Atta has hinted that the next budget reading will announce processes in issuing the government’s ambitious 50 billion dollar century bond. According to Mr Ofori Atta, the issuance of the bond should help address major challenges confronting the country such as the cedi depreciation. The decision to issue the 50 billion […]

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New incentives for automobiles as Nissan joins market – Bawumia

Vice President Dr. Mahamudu Bawumia has stated that government will ensure that both local and international automobile companies operating in Ghana, will be given equal incentives to enhance their operations. Following the announcement by the President that German automobile company, VW, will set up a plant in Ghana, local automobile company, Kantanka expressed concerns over […]

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Investigroup signs a $10 billion MoU with Omani Company to build Ghana roads

To realize Ghana’s full economic transformation, our road network needs to be second to none. That is why Investigroup based out of the USA with offices in several countries including Ghana has signed a working MOU with MFAR Group of Companies to renovate and/or construct the road infrastructure in Ghana. In a visit to Oman […]

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Government has comprehensive incentives for the 1D1F initiative – Alan Kyeremanten

Mr Alan Kwadwo Kyeremanten, Minister of Trade and Industry on Tuesday said government has outlined a very comprehensive set of incentives for Companies and Businesses that promote the, “One District One Factory” initiative to develop the country. The incentives include duty free status for importing machinery and equipment, duty free for importing all raw materials […]

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August inflation rate up by 0.3 percent

The year-on-year inflation rate for August was 9.9 per cent up from 9.6 per cent recorded in July 2018. The monthly change rate in August 2018 was zero per cent, compared with the rate of 0.4 per cent recorded in July 2018. The year-on-year non-food inflation rate for August 2018 was 10.8 per cent compared […]

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Local investors, financial firms commit GHC2.5bn to One District, One Factory program

Local investors and financial institutions have so far committed about GH?2.5 billion to support the One District, One Factory program of the government. According to Deputy Minister of Trade and Industry Carlos Ahenkorah government is also expecting some $300 million from international partners. He spoke to JoyBusiness after cutting the sod for the construction of […]

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GNPC needs stricter measures to avert crude underpricing – Analyst

Some energy analysts have called for stricter measures to prevent the country from losing money through errors such as underpricing in the oil and gas industry. The advice follows an enquiry by the Minister of Finance, Ken Ofori-Atta’s into some activities of the Ghana National Petroleum Corporation(GNPC) at the TEN oil fields which was said […]

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CBG to close down 98 branches, keep 93

The newly-created Consolidated Bank Ghana Limited (CBG) will be closing down 98 of its 191 inherited branches and keeping 93, Chairman of Parliament’s Finance Committee, Dr Mark Asibey-Yeboah, has said. Briefing the media after Day 2 of the committee’s in-camera hearing at which it met with CBG officials, Dr. Asibey-Yeboah said although the management of […]

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