Category: Business

The Ghana Revenue Authority (GRA) has served notice of the full implementation of the Electronic Transfer Levy. A statement signed by the Commisioner of the Support Services Division of the Ghana Revenue Authority (GRA) indicates that the implementation will start on 1st July 2022. According to the statement, all charging entities are expected to integrate...

The Liquefied Petroleum Gas (LPG) Marketers Association has hinted that consumption of LPG will decline by 20 percent by the end of the year if the government fails to scrap taxes on the commodity. Vice president of LPG Marketers Association, Gabriel Kumi says there has been about a 14 percent reduction in consumption in the...

President Nana Addo Dankwa Akufo-Addo has urged the newly-launched Development Bank Ghana (DBG) to partner with the private sector, and work with them to provide access to long term funds, access to markets both domestic and foreign, and skills developments. Speaking during the launch of the bank on Tuesday June 14 the Bank will support all banks...

In the last 5 months, the Central Bank has constantly increased interest rate from 14.5% to 19% as means of managing high inflation rate. The May 2022 rate (19%) was the second consecutive rate increase this year, raising borrowing costs to their highest level since February 2018. It can be recalled that, Government Statistician, Professor...

A consortium of nine banks is collaborating with government to provide credit to existing youth-led companies and, in the process, create one million jobs in the next three years. Under the commercial programme of the YouStart initiative, the government will provide support for existing youth-led businesses with between ¢100,000 working capital and ¢500,000 for those...

Ghana has been ranked 1st in West Africa and 2nd in Sub Saharan Africa by Fitch Solutions, research arm of ratings agency Fitch, as the best destination for investments and trade. With a Trade and Investment Risk score of 50.9%, the country outperformed the West Africa average of 36.4%. The country also placed 88th out...

The Producer Price Inflation (PPI) rate for April 2022 was 31.2 percent, the Ghana Statistical Service (GSS) has announced on Wednesday May 18. This rate indicates that between April 2021 and April 2022 (year-on-year), the PPI increased by 31.2 percent. The rate, the GSS said, represents a 1.9 percentage point increase in producer inflation relative to the rate recorded in...

Workers who receive their salaries through mobile money platforms may have to brace themselves. This is because a portion of their money is expected to be affected by the recently passed E-Levy. According to the Ghana Revenue Authority (GRA), the manner in which the controversial law was crafted makes it imperative that the tax is...

The Importers and Exporters Association of Ghana(IEAG) is unhappy with the passage of the electronic levy (E-levy) emphasizing that the Timing was not the best. Times are tough as the rate of goods and services kept boosting in the country and the typical Ghanaians complained of the difficulties in making a living. Mr Samson Awingobi...