The rate at which subscribers of mobile money are being defrauded by both criminals and some staff of telecom companies has reached alarming proportions. The service, which has been touted as the innovation to bring banking to the doorsteps of the unbanked, is turning out to be a monster depriving...
Deputy Finance Minister, Kwaku Kwarteng has disclosed that there has been a 26 percent increase in patronage of domestic airlines since the abolition of the VAT on domestic airfares. The 2017 budget heralded the abolition and review of some 12 key taxes. They included the 17.5% VAT on domestic airfares, the...
The Ghana Integrated Financial Management Information System (GIFMIS) is meant to replace all stand-alone legacy Financial Management Systems at the Ministries, Departments, Agencies (MDAs) and the Metropolitan, Municipal and District Assemblies (MMDAs). Mr Ken Ofori-Atta, the Minister of Finance said GIFMIS also had the possibility of interfacing other systems that...
The risks to global financial stability in the immediate future have declined, according to a new assessment from the International Monetary Fund. But at the same time, vulnerabilities over the longer term are building, the IMF warns. The very low-interest rate policies of the rich countries have led investors to search...
A Senior Research Fellow and Head of Economics Division of the Institute of Statistical, Social and Economic Research (ISSER), Dr Charles Ackah, has cautioned policymakers to avert their minds to the social implications of Ghana’s under-performing economy. He says the consequences, particularly of poverty, rising inequality and joblessness are dire...
Ghana has cleared her first Eurobond issued in 2007. A former Finance Minister, Seth Terkper who confirmed this to Citi Business News said the government cleared the final instalment of the bond on October 4, 2017. According to him, the government resorted to about 200 million dollars from proceeds from oil...
The government has dropped hints about its intention to implement the tax stamp policy beginning with Tobacco, Alcoholic and non-alcoholic drinks, bottled water and textiles in January, next year. A deputy Minister of Finance, Mr Kwaku Agyeman Kwarteng, who dropped the hint said the implementation of the tax stamps policy...
The United States Agency for International Development (USAID) through the US government’s Feed the Future Initiative last week launched the National Seed Trade Association of Ghana (NASTAG), in collaboration with the Ministry of Food and Agriculture and other development partners. NASTAG is a partnership between producers, traders, government institutions and...
The Ghana Airports Company Limited (GACL) has posted significant financial growth in the 10 years of its operations, with its revenue growth from GH¢21 million in 2007 to GH¢363 million in 2016. The Company’s total capitalization has also surged over 44 times the initial GH¢130 million to GH¢5.8 billion, according...
Finance Minister, Ken Ofori-Atta, has said government’s growth projection of 6.3 percent will be met regardless of the shortfall in revenue recorded in the first quarter of the year. The huge revenue plunge, however, was enough to force government to slash its ambitious original revenue target of GH¢44.5 billion to...