Business / Agribusiness Economy

A bag of Cement Sold at ¢95? – K.T. Hammond meets manufacturers over price escalation

The Ministry of Trade and Industry (MoTI) and the Chamber of Cement Manufacturers, Ghana (COCMAG), have agreed to hold regular consultative meetings with industry stakeholders, specifically addressing developments in cement manufacturing, bagging, and distribution. Initiated by Minister K.T. Hammond, the meetings aim to tackle critical issues in the sector, particularly in response to announcements of […]

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Business / Agribusiness Economy

Bawumia fires GRA – Your tax collection method ‘lazy’

Vice President Mahamudu Bawumia criticized the Ghana Revenue Authority for its passive reliance on existing taxpayers for revenue generation, neglecting the larger segment of non-taxpayers. Addressing the 57th Congregation at KNUST on November 24, 2023, Dr. Bawumia suggested leveraging the Ghana Card and TIN number linkage to identify tax filers, emphasizing the importance of tapping […]

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Business / Agribusiness Local

Farmgate Price for Pork up 20%

The Pig Farmers Association of Ghana, led by President Kwame Appiah Danquah, declared the price hike at the annual Porktober event. Danquah stated, “Commencing December 1, 2023, our revised farmgate rates stand at a minimum of GHS 30 per kilo for live weight and GHS 45 for carcass pork.” He underscored the term ‘farmgate,’ cautioning […]

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Business / Agribusiness Economy

One million mobile money accounts were inactive after E-levy implementation – ISSER

About one million mobile money accounts were inactive after the implementation of the Electronic Transfer Levy in May 2022, a research by the Institute of Statistical, Social and Economic Research (ISSER) has revealed. This was from 19.1 million to 18.1 million in July 2022. Following the review, ISSER, said, the number of registered and active […]

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Business / Agribusiness Local

Some Oil Marketing Companies Begin Price Reductions at the Pump

Several Oil Marketing Companies (OMCs) have initiated a reduction in the prices of petroleum products at fuel pumps. This price adjustment is in response to the Institute of Energy Security (IES) forecast, which indicated the likelihood of a downward revision in the second pricing window of October. For instance, PETROSOL, an Oil Marketing Company, has […]

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Business / Agribusiness Local

Fuel prices set to decline marginally from October 16 – COPEC

The Chamber of Petroleum Consumers (COPEC) has forecasted a forthcoming reduction in fuel prices at gas stations nationwide, commencing on Monday, October 16, 2023. Duncan Amoah, the Executive Secretary of COPEC, made this announcement in a statement issued on Friday. COPEC attributes the expected drop in fuel prices to a significant decrease in international market […]

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Business / Agribusiness Crime

Just In: Capital Bank Founder Ato Essien Sentenced to 15-Year Jail Term for Embezzlement

The Accra High Court has issued a 15-year jail sentence to William Ato Essien, the Founder of the defunct Capital Bank, for misappropriating over GHC90 million of the bank’s funds. Mr. Essien had been found guilty of embezzling the mentioned sum from Capital Bank in a conviction dating back to December of the previous year. […]

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Business / Agribusiness Economy

Government Embarks on Extensive Redesign of the E-Levy

The government has unveiled a significant overhaul of the Electronic Transfer Levy as part of its Medium Term Revenue Strategy, demonstrating a dedicated effort to enhance the efficiency and effectiveness of this taxation policy. In May 2022, the government introduced the unpopular e-levy, a tax on mobile money transactions. Initially, it was structured as a […]

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Business / Agribusiness Local

Just In: Petroleum Product Prices Adjusted at the Pump

Several oil marketing companies have recently made adjustments to the prices of petroleum products at their pumps. According to reports from Joy Business, these revisions commenced on Tuesday, October 3, 2023, and involve several key players in the industry. Shell, for instance, is now selling a liter of petrol at ¢13.49, while diesel is priced […]

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Business / Agribusiness Local

Electricity and Water Tariffs to Increase for Non-Lifeline Residential Users – PURC

The Public Utilities Regulatory Commission (PURC) has revealed that starting from September 1, 2023, non-lifeline residential utility users will experience a 4.22 per cent increase in electricity tariffs and a 1.18 per cent increase in water tariffs. This adjustment follows the completion of the regulatory process for the third quarter of 2023. However, there will […]

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