Business Archives - Page 19 of 41

April 18, 2024April 18, 2024

Boosting Revenue: Government Targets Wider Tax Base

To boost economic growth and increase revenue mobilization, the Ghanaian government is implementing measures to improve the country’s tax-to-gross domestic product (GDP) ratio. Abena Osei Asare, the Minister of State at the Finance Ministry, has stated that while efforts to increase

April 18, 2024April 18, 2024

Illegal Miners Risk Lives By Digging Under New Gas Pipelines – Genser Board Chair Reveals

Nana Otwasuom Osae Nyampong VI, the Board Chairman of Genser Energy, has disclosed that illegal miners are digging beneath the newly laid gas pipelines in the Ashanti region in search of gold. Speaking with Citi News, he emphasized the urgent need

April 18, 2024April 18, 2024

LPG Consumption Drops By 4.47% – IES

The Institute for Energy Security has disclosed a decrease of around 4.47% in Liquified Petroleum Gas (LPG) usage between January 2020 and December 2023, in contrast to a growth of about 6.43% in the preceding four years, spanning January 2016 to

April 17, 2024April 17, 2024

Menzgold Customers Petition AG Over NAM 1 Properties

The Coalition of Aggrieved Customers of Menzgold has submitted a petition to the Office of the Attorney General and Ministry of Justice to investigate the reported sale of frozen properties of Nana Appiah Mensah aka NAM1, the Chief Executive Officer of

April 17, 2024April 17, 2024

Gov’t Replaces Electricity VAT With Foreign Income Tax

In response to a GH¢1.8billion revenue gap caused by the decision to halt the value-added tax (VAT) on electricity, the government has announced plans to implement a tax on the foreign incomes of resident Ghanaians. The move comes after public backlash

April 17, 2024April 17, 2024

PURC Fine Against ECG Board Members Too High – Kwabena Donkor

A former Power Minister, Dr Kwabena Donkor, has expressed satisfaction with the Public Utilities Regulatory Commission’s (PURC) directive to board members of the Electricity Company of Ghana (ECG) to pay a regulatory charge for overseeing the recent power outages without notification

April 17, 2024April 17, 2024

GHc 5.8m Fine On ECG Board Members Was Sanctioned By Our Legal Dept – PURC

A Commissioner of the Public Utilities Regulatory Commission (PURC), Ishmael Edjekumhene, has disclosed that the decision to impose a fine of Five Million, Eight Hundred and Sixty-Eight Thousand Ghana Cedis (GHS 5,868,000.00) on members of the Electricity Company of Ghana (ECG)

April 16, 2024April 16, 2024

Rebranding Of Ameri Power Plants As Kumasi 1 Thermal Power Plant Shameful, Deceptive – Armah Buah

The Ellembelle MP, Emmanuel Armah-Kofi Buah, has criticised the Akufo-Addo government's initiative to rename the Ameri Power Plants. The Volta River Authority (VRA)'s recent announcement on Facebook regarding the commissioning of the Kumasi 1 Thermal Power Plant (K1TPP), situated in Anwomaso

April 16, 2024April 16, 2024

Isaac Adongo Dismisses IMF’s ‘Positive’ Assessment On Ghana’s Economy

Isaac Adongo, the Ranking Member on the Finance Committee in Parliament, has expressed concerns over the recent staff review conducted by the International Monetary Fund (IMF) on Ghana’s three-year Extended Facility Programme. Despite the IMF’s positive evaluation, which positions Ghana to

April 16, 2024April 16, 2024

We Won’t Overburden Ghanaians With Taxes – Amin Adam Assures

The government is determined not to overburden Ghanaians with the payment of more taxes, Dr Mohammed Amin Adam, the Finance Minister, has assured. Rather, the government would ‘use the hard way’ to collect revenue from those who have not been paying