Management of the Ghana Revenue Authority (GRA) says the Electronic Transactions Levy (E-Levy) has raked in GH¢328 million from the Tax Measure since its implementation. The Commissioner-General of the GRA, Rev. Dr. Ammishaddai Owusu-Amoah, who made this known at a meeting with Business Editors in Accra, said GRA continues to witness increases in sums collected monthly. “We continue to see ...

As part of efforts to boost cocoa production through the purchase of cocoa beans, the Ghana Cocoa Board (COCOBOD) has signed a $1.13 billion syndicated loan for the 2022/2023 cocoa crop season with some banks. The banks are; Ghana International Bank, French Investment Bank – Natixis, Standard Chartered Bank, Rabo Bank, Commercial Bank of China and Japanese Bank, MUFG. The ...

Business News of Wednesday, 5 October 2022   Chief Executive Officer of the Coastal Development Authority (CODA), Jerry Ahmed Shaib, has disclosed that his outfit is working on operating a sea transport system in the country. He stated that the project, termed CODA sea bus, will operate from Axim to Denu and vice versa. Mr Shaib explained that the bus ...

Business News of Thursday, 29 September 2022 Amid discussions on a sustainable debt path for the country, Finance Minister Ken Ofori-Atta has assured that the domestic financial sector will be protected during discussions at IMF negotiations. Currently, the International Monetary Fund (IMF)/World Bank and the Ghana Team are undertaking a debt sustainability analysis (DSA) to inform the programme negotiations, given that having a sustainable ...

Business News of Thursday, 29 September 2022 The country will continue to accelerate production and utilization of its oil and gas reserves while striking a balance between its social, economic and environmental requirements and emissions, Vice President Dr. Mahamudu Bawumia has said. “Ghana has set a target of 2070 to fully transition from fossil fuels to renewable energy. “So, even though as ...

Business News of Wednesday, 28 September 2022 Finance Minister, Ken Ofori-Atta, has outlined a number of pillars which will be hinged on Ghana’s possible economic support programme from the International Monetary Fund. Ghana is currently holding negotiations with officials from the Fund who arrived in Accra-Ghana on September 26. The country is targeting US$3 billion from the Bretton Woods institution once an ...

 September 20, 2022   The World Bank Country Director (Ghana), Pierre Frank Laporte believes that unreasonable energy sector agreement forced Ghana into a situation where the country is now seeking support from the International Monetary Fund (IMF). According to him, albeit the impact of the Covod-19 which he said has resulted in the difficult environment for businesses, he indicated that spillovers ...

Business News of Thursday, 15 September 2022 The Ghana cedi is expected to stabilize against it major peers in the coming weeks on the back of inflows from the Cocoa Syndicated loan, Databank Research has said. “In the coming weeks, we expect the cedi to find a cushion on the back of expected forex inflows from the $1.3 billion cocoa ...

Business News of Thursday, 15 September 2022 Cocoa farmers in Ghana have urged the Ghanaian government and Ghana Cocoa Board to raise the price of cocoa from GH¢660 per bag to GH¢1,500 during the 2022-2023 harvest, or they will be forced to abandon their crop. According to the Obaatampa Cocoa Farmers Cooperative Union, Dormaaman Cocoa Farmers Cooperative Union, Ghana National ...

Business News of Thursday, 15 September 2022   The International Monetary Fund has ranked Ghana in fourth place with the highest private savings in Sub-Saharan Africa (SSA). According to a recent report published by the Fund dubbed, ‘Private Savings and COVID-19 in Sub-Saharan Africa,’ Ghana increased its private savings from about 24 percent in 2019 to about 30 percent in 2022. It also noted ...