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Business

Advertisers renew appeals to pass Advertising Bill

Joel Nettey

The Advertising Association of Ghana (AAG) has called for the speedy passage of the Advertising Bill. The Bill when passed will lead to the setting up of an Advertising Standard Authority which will bring together relevant industry players to ensure sanity in the industry. This is expected to be achieved by eliminating fraudsters and protecting the interest of consumers. The ...

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GRA educates small taxpayers to improve revenue mobilisation

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The Ghana Revenue Authority (GRA) has commenced processes to educate informal sector businesses on data keeping to increase their tax compliance. It follows what the GRA believes is the low tax compliance due to the lack of information. The exercise is being conducted by the Debt Management, Compliance and Enforcement Team of the GRA. The exercise will also be replicated ...

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Ghana needs just 5 banks – Casely Hayford

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Ghana’s economy needs just about five well capitalised banks , Financial Analyst, Sydney Casely Hayford has said. His comment comes days after the Bank of Ghana gave GCB Bank the go ahead to take over UT and Capital Banks to save them from collapse. The Bank of Ghana announced that the takeover of the two banks became necessary “due to ...

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Banks collapse: BoG should’ve sent out warnings – Franklin Cudjoe

IMANI Africa president, Franklin Cudjoe

The Bank of Ghana (BoG) should, perhaps, have done more to warn shareholders of the collapsed UT and Capital banks, IMANI Africa’s President, Franklin Cudjoe has argued. Speaking on The Big Issue, Mr. Cudjoe highlighted issues having to do with corporate governance and the need for the banking sector to adopt the practices of countries that are more open. As it stands now, ...

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Govt to redirect NIB’s mandate to support industries

Trade Minister Alan Kyerematen with the Board of the NBSSI

Government has announced plans to refocus the operations of the National Investment Bank (NIB) to offer financial assistance to small and medium scale businesses. Trade and Industry Minister, Alan Kyerematen explains this should also grow the businesses to boost Ghana’s industry and increase economic growth. The NIB, which is now considered as a universal bank, in the Minister’s view, has ...

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Illegal fuel imports hurting BDCs – Report

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The Chamber of Bulk Oil Distributors (CBOD) has complained that illegal fuel imports into Ghana adversely affected the Bulk Distribution Companies (BDCs) between May and July 2017. The Chamber which made the observation in its maiden report on the sector explained that such acts created unhealthy competition in the industry and threaten the ability of BDCs to honour their financial ...

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Resist pressure for illegal siting of fuel stations – Prof. Frimpong Boateng

Ministerial Vetting

The Minister of Environment, Science, Technology and Innovation (MESTI), Professor Kwabena Frimpong Boateng, has advised the Environmental Protection Agency (EPA) and the National Petroleum Authority (NPA) to resist persuasion and pressure from influential people in society to site fuel stations at wrong places. Fuel and gas stations have claimed lives of hundreds of Ghanaians across the country. A situation, many ...

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Freight forwarders agitate over ‘drawbacks’ in paperless systems

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Freight forwarders at the Tema Port have protested against the undue delays at the port in the wake of the pilot of the paperless transaction at the port. According to them, the paperless regime which is expected to be officially rolled out in September would jeopardize their work if nothing is done to correct the problems and delays with some ...

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NCA to automate licence renewal Process

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The National Communications Authority (NCA) says it will soon automate the license renewal process to ensure a smooth and fast process for internet service providers and media houses. The Authority stated that it has conducted a nationwide audit for Radio and Broadcast stations and is currently conducting an audit for the service providers. The Acting Chief Executive of the NCA, ...

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Fix weaknesses in banking sector – Nana Addo to BoG

akufo-addo-at-university-of-cape-coast-3

President Nana Akufo-Addo has charged the Bank of Ghana to address the weaknesses in the banking sector. According to him, such moves will prevent any adverse spillover effect on the economy. Speaking at the 60th anniversary lecture organized by the Bank of Ghana in Accra on Friday, Akufo-Addo said: “a weak banking system undermines growth and on and this basis, ...

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