Business

Public debt stock hits ¢172.9b ending November 2018

The country’s total debt stock has significantly increased by ¢2.9 billion in two months to reach ¢172.9 billion ending November 2018. The Data from the Central Bank showed that the new debt stock represents 57.9 per cent of the total value of Ghana’s economy otherwise referred to as Debt-to-GDP Ratio by economists. This could mean that country might have built ...

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21 taxes choke tourism operators – Parliament cries

The country’s quest to be a leading tourist destination in the West Africa sub-region faces an enormous challenge as tourism operators are saddled with at least 21 taxes – which are ultimately passed on to consumers, a Parliamentary report has revealed. According to the report, a typical hotelier has to comply with fees coming from the Environmental Protection Agency, Food ...

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Diaspora investments set to begin this year

The Ministries of Business Development and Local Government and Rural Development intend to spearhead a project that seeks to attract Ghanaians in the diaspora to invest in various sectors of the economy. Importantly, the initiative will deliberately seek to attract such investments into the country’s hinterlands in an effort to achieve spatial diversification in an economy where more 90 percent ...

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1 million farmers to benefit from fertilizer subsidies in 2019

The Ministry of Agriculture has targeted 1 million farmers to benefit from subsidized fertilizer in its Planting for Food and Jobs program in 2019. This target was raised from that of 700,000 following improved numbers of farmers who got covered in 2018. In all, 300,000 metric tons of inorganic fertilizers and 200,000 metric tons of organic fertilizer worth GHc400 million ...

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Nsawam-Accra railway ready by end of January – Richard Dombo

The Accra-Nsawam train service will be ready and working by the end of January 2019. That’s according to the Chief Executive Officer of the Ghana Railway Development Authority, Richard Dombo. Speaking on the Citi Breakfast Show, he said after all the test runs are done on the railway line, the trains will be up and running. “We are looking at ...

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Chinese galamsey queen deported

Myjoyonline.com is learning that galamsey queen, Aisha Huang, has been deported from Ghana. Aisha Huang was deported shortly before 2pm Wednesday, via an Ethiopian Airways flight after the government said she had been living in Ghana with forged travel documents. Her deportation means the state discontinued the trial against the Chinese who had been charged with undertaking small-scale mining operations, ...

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We’ll not resort to reckless borrowing – Akufo-Addo to IMF

President Nana Addo Dankwa Akufo-Addo on Monday assured the International Monetary Fund (IMF) that Ghana would not engage in reckless borrowing and economic indiscipline that created the situation where the country had to resort to a bail out from the fund in the past. He said the government would continue with the prudent economic management, adding that a fiscal rule ...

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All validated small scale mining companies and groups cleared to begin mining operations in the country have been given up to Friday, March 29, 2019 to have insurance policy. Again, they are required to have tax identification number (TIN) and secure social security for all their employees by the set date. The directive from government forms part of the requirements ...

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IMF warns government against over borrowing

Managing Director of the IMF, Christine Lagarde has warned government against excess borrowing, stating that it could derail economic gains achieved by the country. Madam Largarde is in the country for a two-day visit to complete processes for Ghana’s exiting of the programme with the IMF. Speaking at a conference organized by her outfit in Accra, the IMF boss said ...

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