Home » Business

Business

Enforce or review law banning foreigners from retail trade – GIPC Boss

Yoofi Grant, CEO, GIPC

The Chief Executive Officer of the Ghana Investment Promotion Centre(GIPC), Yoofi Grant is demanding the enforcement or revision of the GIPC law which bars foreigners from engaging in retail trade in Ghana. According to him, this will resolve the unending retail feud between Ghanaian and Nigerian traders which has resulted in the closure of Nigerian shops in the past few ...

Read More »

Ghana among countries that have highest percentage of women business owners in the world

The third edition of the Mastercard Index of Women Entrepreneurs (MIWE) has listed three African countries as global leaders in terms of women-owned businesses. Uganda, Ghana and Botswana are ranked as the top three countries with the highest percentages of women-owned businesses across the 58 markets evaluated around the world. Based on publicly available data from international organizations including the ...

Read More »

Gov’t releases GH¢40 million for mortgage financing

Government has released some GH¢40 million to support the efforts by the private sector in bridging the housing deficit in the country. The fund which has been made available to some selected banks in the country is expected to add to additional funding to be provided by private estate developers. Deputy Minister of Finance, Charles Adu Boahen disclosed this at ...

Read More »

Upfront charge of CST ends, new cost of data to be announced – Ashigbey

The Telecoms Chamber says the upfront charge of the 9 per cent Communications Service Tax has been reversed as at November 26. This is according to the CEO of the Chamber, Ken Ashigbey who tells Joy Business that all players in the telecommunication space will to this effect unveil a new cost of data and call tariff in line with the ...

Read More »

59% of Ghanaians say the country is ‘going in wrong direction’ – Afrobarometer

Ghanaians’ approval ratings on indicators of their government’s economic performance have declined sharply compared to 2017, a new Afrobarometer survey by the Ghana Center for Democratic Development (CDD-Ghana) shows. Few citizens are content with the country’s economic situation and their personal living conditions, and a majority say the country is headed in the wrong direction. Key findings in CDD’s Afrobarometer survey ...

Read More »

Send-Ghana’s sector specific analysis of the 2020 budget

SEND Ghana, a Policy Research and Advocacy Civil Society Organization has put out an in-depth analysis of the 2020 Budget Statement and Economic Policy which was presented by the Minister of Finance on November 13, 2019. The Organization’s   post budget analysis which was presented to the media last Wednesday by Dr Emmanuel Ayifah, Deputy Country Director, draws government’s attention to ...

Read More »

India Turning a Blind Eye to Smuggled Gold

IMPACT’s new report reveals India to be one of the largest gold smuggling hubs in the world. As a result, gold that is tied to conflict, human rights abuses, and corruption in Africa and South America is entering legal international markets through India. In its latest report, A Golden Web: How India Became One of the World’s Largest Gold Smuggling Hubs , ...

Read More »

No new taxes in 2020

The government will not introduce any new taxes in the 2020 fiscal year, Finance Minister Ken Ofori-Atta noted while reading the 2020 budget.  Instead, Ken Ofori-Atta said the government would restructure the tax system and develop a comprehensive revenue policy and strategy to address the challenges of revenue mobilisation. This will involve lending the necessary support to the Ghana Revenue Authority ...

Read More »

Taking more taxes without showing benefits is problematic – Economist

An Associate Professor in the Department of Economics at the University of Ghana is calling for the re-assessment of government spending as well as a consideration for improving its tax effort. Prof Abena D. Oduro delivering the fourth Kwadwo Baah-Wiredu Memorial Lecture said government’s budget is skewed towards consumption expenditure which makes it difficult to achieve its target for development expenditure. “The fiscal position must ...

Read More »

Rice imports stifling Ghana’s economy – Osafo-Maafo laments

The Senior Minister, Yaw Osafo-Maafo, has disclosed that Ghana spent $1.35 billion of its revenue to import rice in 2017. Delivering a speech at the consultation forum on the ‘Ghana Beyond Aid for Northern Ghana in Tamale’ on Wednesday, the Minister stated that proceeds made from exports are used to import rice although the country was capable of cultivating and producing the crop. “We have natural ...

Read More »