The Council of the Chamber of Petroleum Consumers (COPEC) says the country’s premix arrangement needs a complete review and a complete overhauling.
According to the Council, the current system in practice is simply prone to such corrupt diversions and retrading.
It argues that premix fuel has become a lucrative business for...
Government’s drive to digitise the economy will be effectively complemented by the various payment initiatives the Ghana Interbank Payment and Settlement Systems (GhIPSS) has rolled out. This will ensure that the country derives the full benefit of a digital economy.
GhIPSS, since 2007 has been deploying a number of electronic...
There is the need to balance the debate around whether the country should rely more on local investment or foreign direct investment, especially as indigenous companies do not have the requisite financial muscle to drive socio-economic growth, CEO of the Ghana Investment Promotion Centre (GIPC), Yofi Grant, has stated.
“We...
The future of banks that are majority owned by domestic private interest in Ghana can be challenged in the not distant future due to the strict application of the Basel II and III standards.
Research on local ownership of banks as against foreign ownership across Africa showed Cote D’Ivoire, Nigeria...
Dr Ernest Kwamina Yedu Addison, the Governor of the Bank of Ghana (BoG), has bemoaned the low credit facility extended to small and medium-scale enterprises (SMEs) and the agricultural sector by banks and urged financial institutions to develop innovative products for the two sectors.
He said as at September this...
The Value Added Tax Amendment bill that will see the removal of taxes on lottery earnings has been laid before Parliament by the Deputy Finance Minister, Kweku Kwarteng.
Government hitherto collected 5% tax imposed on all lotto winnings exceeding GH₵2,592, following a re-classification of lotto as an investment activity under the...
Odebrecht Engineering and Construction International has awarded four outstanding Civil Engineering students of the Kwame Nkrumah University of Science and Technology (KNUST) in their first, second, third and final years. The Odebrecht Ghana Engineering Awards was instituted at the College of Engineering in 2014 by the company.
The Odebrecht Engineering...
Indigenous airline, Africa World Airlines (AWA), the only airline currently providing domestic air services in the country, has increased its flight frequency between Accra and Kumasi, and Accra-Tamale, to help meet the increased demand.
This follows the suspension of operations of Starbow–the second domestic airline operator.
AWA has increased its Accra-Kumasi-Accra...
The central bank has endorsed plans by government to merge the operations of ADB and the National Investment Bank (NIB) to meet the new GHS400 million minimum capital requirement.
Dr. Ernest Addison told the press on Monday that he sees nothing wrong with government’s plans to merge the operations of...
Majority of Ghanaians want stiffer punishment for corrupt public officials, including jail time, restitution of stolen funds, and public shaming, according to a new Afrobarometer survey.
Findings show widespread popular perceptions of corruption in both government and private-sector leadership, with the police and judges most widely seen as corrupt.
But public...