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2019 Budget to improve corporate tax mobilization—Finance Minister

Finance Minister, Ken Ofori-Atta

As government engages different business associations ahead of the 2019 National Budget which is scheduled for next month, Finance Minister, Ken Ofori-Atta has maintained that corporate entities will be encouraged to file their tax returns in the budget through several initiatives. Already, the Trades Union Congress has stated that it does not expect new taxes in the 2019 budget. But ...

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ExxonMobil deal: Gov’t likely to extend timeline for local partner

ExxonMobil-Nigeria-headquarters

ExxonMobil may get an extension of the timeline to select a local partner for its operations in Ghana. Citi Business News understands this may be the option since the government is keen on getting the company to operate in the country’s oil sector. Deputy Energy Minister, Dr. Mohammed Amin Adam disclosed this in an interview on the progress of work ...

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Telecoms Chamber to engage gov’t over increased tariffs

Ken Ashigbey - CEO, Chamber of Telecommunications

The Chamber of Telecommunications has said it is open to further discussions with the government over the imposition of taxes on operations of its members. This follows the increase in telecom service tariffs after the recalibration of the Value Added Tax (VAT). The midyear budget review saw the separation of the 5 percent GETFund and NHIL levies from the VAT ...

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George Andah questions decision by telcos to increase charges

Dep Communications Minister, George Andah

Deputy Minister of Communication, George Andah, finds reasons given by the Ghana Chamber of Telecommunication for an impending increment in tariffs by telcos problematic. The Chamber had announced in a statement issued recently that Airtel-Tigo, MTN and Vodafone will be adjusting their tariffs upwards from November 1, 2018. The Chamber  had explained that the increment is in accordance with the ...

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No renewal of license for fronting companies – Petroleum Commission

Egbert Faibille

 The Petroleum Commission of Ghana has cautioned all businesses that engage in fronting to desist from the practice or face the law. The Commission has stated that it will not renew the license of any Joint Venture which fails to fully disclose the identities of its shareholders. The CEO of the Petroleum Commission, Egbert Faibille Junior believes the clamp down ...

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Aviation authorities attend 13th ICAO conference in Canada

ICAO

The Deputy Minister of Aviation and MP for Takoradi,  Hon. Kwabena Okyere Darko-Mensah has led a team of Aviation experts from the Ministry of Aviation and the Ghana Civil Aviation Authority to attend the Thirteenth Air Navigation International Civil Aviation Conference(ICAO) conference currently ongoing in Montreal, Canada. Also part of the delegation are seasoned experts from the Ghana Meteorological Agency. ...

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Govt raises GHS988m domestic bond

Finance Minister, Ken Ofori-Atta

Government has raised a total of 988 million cedis bond at a rate of 19.5 percent. The three-year domestic bond which was issued yesterday was also opened to non-resident investors. There is more in this report. An initial guide price for the bond which was open to non-resident investors was set at between 18.75 percent and 19.5 percent. The listing ...

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MTN Ghana revenue hits GHS3.54bn

Selorm Adadevoh - MTN CEO

MTN Group has announced that its Ghana unit’s third quarter revenue grew around 23 percent boosted by its mobile money service MoMo, a Reuters report has said. According to Reuters, MTN Ghana said revenue for the nine months ended 30 September 2018 rose to 3.54 billion Ghana cedi from 2.49 billion Ghanaian cedi during the same period a year ago. ...

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‘We’ll resist imposition of CTN through the back door’—GUTA                                                                                        

Tema Port

The Ghana Union of Traders Association (GUTA) wants the Ghana Revenue Authority (GRA) to revoke the quota system infused into the Cargo Tracking Note (CTN). According to GUTA, the quota system will bring unnecessary bureaucracy, time wasting, lobbying and cost that may create possible avenues for frustration and corruption. The union, has warned that it will vehemently resist any attempt ...

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Court strikes out name of one defendant in defunct uniBank case

Clifford Mettle

An Accra High Court hearing the case between the Receiver of Defunct uniBank, Nii Amanor Dodoo and shareholders of the bank has struck out the name of one of the defendant, Clifford Duke Mettle. Mr. Clifford Mettle was an executive director of defunct unibank until the Bank of Ghana revoked its license this year. The action, according to the court ...

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