Business

Ghana Is A Serious Place To Do Business – Dr Thumbay Moideen

Thumbay

The Founder President of the Dubai-based global conglomerate, the Thumbay Group, has lauded the Ghana government’s serious-minded approach to the establishment and growth of private sector businesses. “Ghana is a serious country to do business and we are happy to be here,” Dr Thumbay Moideen declared at the signing of a Memorandum of Understanding for the establishment of a Thumbay ...

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Government to create more jobs in March – SONA 2018

The State of the Nation Address(SONA) indicates that at least 100, 000 young persons will be given jobs beginning March under the Nation Builders Corps initiative of the Akufo-Addo government. Under the programme, the youth will assist in public sector service delivery in health, education, agriculture, sanitation and the revenue collection department of the Ghana Revenue Authority (GRA). “Stakeholders have ...

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Banning of Small Scale Mining is not an Option

Small Scale Mining

The Ghana National Association of Small Scale Miners (GNASS) has prompted the government to lift the six-month ban it had imposed on small-scale mining. The ban, which was placed earlier last year which, was later extended by three months and was expected to end last month. However, the government is still holding on to its first decision, arguing that, they ...

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Residence: The Tax Way

The concept of residence is probably the most fundamental (and maybe, most important) in the world of taxation. And someone may ask why? The reason is pretty simple…in the world of taxation, where you are considered resident determines where you are taxed (ie. which country has the right to tax you). We will explore the issue of residence into much ...

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Policy rate maintained to 20%

PRINPAG

THE BANK of Ghana (BoG) has stated that to ensure the inflation target horizon is maintained and the medium term inflation target ±2% is achieved this year, the monetary policy rate of 20% has been left unchanged. Dr Ernest Addison, Governor of BoG, briefing the press, in Accra yesterday, explained that while there was a trend decline in headline and ...

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GRA targets GH¢39.8 billion in 2018

Bank of Ghana

THE GHANA Revenue Authority (GRA) has targeted GH¢39.8 billion as total tax revenue to be collected this year. The target, the authority explained, indicates a 23.26% growth over the 2017 collection figure. Addressing the press in Accra, the Mr Emmanuel Kofi Nti, Commissioner General, GRA, said the Authority failed to achieve their revenue collection target of GH¢ 33,434.20 billion as ...

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NIC bars 2 insurance companies from operation

THE NATIONAL Insurance Commission (NIC) has barred two insurance companies from full operation. It has also extended its deadline till end of 2018 for companies to meet its increased minimum capital gain. The Insurance Act requires that all insurance and reinsurance companies meet a minimum capital requirement of GH¢ 15 million. The deadline which was originally set for 2015 was ...

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What is cryptocurrency or digital cash?

bitcoin

Few people know, but cryptocurrencies emerged as a side product of another invention. Satoshi Nakamoto, the unknown inventor of Bitcoin, the first and still most important cryptocurrency, never intended to invent a currency. In his announcement of Bitcoin in late 2008, Satoshi said he developed “A Peer-to-Peer Electronic Cash System.” His goal was to invent something; many people failed to create ...

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Gov’t to revive Gyankobaa ginger processing factory

The Member of Parliament for Atwima Nwabiagya South Constituency Hon Emmanuel Agyei Anhwere has assured that government will revive the defunct ginger processing factory at Gyankobaa in the Atwima Nwabiagya District. The Gyankobaa Ginger Processing Factory was established in 1975 Former President Colonel I.K. Acheamong to dry and mill ginger produced by the farmers at Gyankobaa. Hon. Emmanuel Adjei Anhwere speaking ...

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Bitcoin starts a new year by tumbling, first time since 2015

bitcoin

For the first time since 2015, the cryptocurrency began a new year by tumbling, extending its slide from a record $19,511 reached on Dec. 18. The virtual coin traded at $13,440 as of 3:55 p.m. in New York, down 6.1 percent from Friday, according to data compiled by Bloomberg. That’s also a fall from the $14,156 it hit Sunday, according ...

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