Government receives $30m World Bank support to strengthen financial sector

The World Bank has approved a $30 million International Development Association (IDA) credit to support government to strengthen its financial sector stability. The credit is also to help improve inclusiveness for users of formal financial services and the financially excluded, particularly women, rural communities and farmers. “This project will support government’s plan to undertake reforms to deepen financial markets, promote […]

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Scrap Special Petroleum Levy – Minority

The Ranking Member of the Mines and Energy Committee of Parliament, Mr. Adam Mutawakilu, has asked the current government to srap the Special Petroleum Levy, which was introduced by the previous National Democratic Congress (NDC) administration. According to the Damongo lawmaker, the levy has outlived its usefulness and is also the cause of escalating fuel prices in the country, recently. […]

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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 for the Company, a Five-year […]

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Ghana considering floating rare $50bn Century Bond

Ghana may soon join the likes of Argentina, Austria and Mexico to issue the rare 100-year bonds to finance national projects. President Addo Dankwa Akufo-Addo announced this at a ceremony in Beijing to sign some eight Ghana-China co-operation agreements. “The Ministry of Finance and the economists in Ghana are looking at floating a $50 billion Century Bond. This will provide […]

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COPEC calls for national dialogue on ‘sustained’ fuel price increases

The Chamber of Petroleum Consumers Ghana (COPEC) is calling for “an immediate national dialogue” on constant fuel price increases that have hit consumers over the past few months. “Ghanaian petroleum consumers have over the past 24 hours been hit with another fuel price increases. Fuel prices across most Major Oil Marketing Companies within the country has seen a marginal increase […]

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Finance Minister presents Mid Year Budget Review today

The Finance Minister, Ken Ofori-Atta will today (Thursday) present before Parliament the government’s 2018 mid-year budget review. The presentation is in line with Ghana’s Financial Management Administration Act which requires that the Minister for Finance appear before Parliament not later than July 31, to submit a Mid-Year Fiscal Policy review. The review is to afford the government the opportunity to […]

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Finance Minister presents mid-year budget next week

The Ministry of Information has told Citi Business News the Finance Minister, Ken Ofori Atta will be presenting the mid-year budget review to parliament next week. The Information Ministry is however yet to announce the day. The Finance Ministry has already told Citi Business News government will be introducing new tax measures to boost domestic revenue mobilization. But speaking to […]

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Fuel prices to drop again this week

The prices of petroleum products are expected to drop by about 2 percent this week. This is the indication from Citi Business News’ checks with players within the petroleum industry following developments on the global market. This will also be the second time in less than a week that fuel prices have been reduced this month (June). Petrol prices to […]

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