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Business

McDan Group picks 3 top awards

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Shipping and Logistics giant, McDan Group of Companies has added yet a memento to its trophy collections. The established shipping and logistics firm picked three Awards in the prestigious Ghana Shippers Awards recently held in Accra. The works of the Group chairman, Dr. Daniel McKorley in the year under review (2017) attracted organizers of the event attention, and consequently adjudged ...

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Offsetting mining impact with reforestation: the story of New Abirem

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A flock of birds chirp endlessly. Tall trees nearby whisper breezes and chainsaw roars a stone throw away. Shrubs and climbers envelope stumps and wild grasses bloom. The sun is hot, the breeze is cold but the ground is wet with giant footprints of tractors. This is the Kweikaru Forest Reserve where giant trees have fallen to merchants of the ...

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Takoradi port revenue increases after expansion works

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The Takoradi Port in the Western Region has begun recording increase in revenue from traffic to the sea port after the expansion works on the port were completed. This was made known by the Public Relations and Marketing Manager of the Takoradi Port Peter Amoo Bediako at a public lecture held on the revitalization of the railways in Takoradi, organized ...

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Too much imports cause of Ghana’s high cost of living – Economist

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Economist and Senior Research Fellow at the Institute of Fiscal Studies, Dr. Said Boakye, has blamed the high cost of living in Ghana on the country’s voracious appetite for imported products. Dr. Boakye made the remark on the Citi Breakfast Show on Tuesday, on the back of a report that Ghana has been ranked as one of countries in the world ...

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Fuel prices to drop by 2% in first pricing window in July

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Prices of fuel are likely to see further drop in the first pricing window of July by about 2%. This is according to the Institute of Energy Security (IES). The Institute believes indicators such as the relative appreciation of the cedi against the dollar and the general reduction in the global price of crude oil would lead in the reduction. ...

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Implementation of 3% VAT Flat Rate: Prices up by 20.5%

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Prices on goods have gone up by about 20.5%, following the implementation of the 3% VAT Flat Rate which commenced on July 1; the General Secretary of the Food and Beverages Association of Ghana, Samuel Aggrey has disclosed. Mr. Aggrey’s assertion follows an earlier meeting of businesses with the Vice President, Dr. Mahamudu Bawumia, calling for a suspension of the ...

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Fishing industry triples agric growth in 2017

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Agric industry players are optimistic of a rebound in the growth of the sector for the rest of 2017. Their optimism is premised on the massive growth in agric subsector between the first quarter of 2016 and the same period in 2017. For the one year period, the agric sector growth almost tripled, from 2.8 percent to 7.6 percent. Generally, ...

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Businesses increase prices as 3% VAT flat rate takes off

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Consumers should be prepared to pay more on goods and services effective today [Tuesday],  following the implementation of the 3 percent VAT flat rate. Businesses are expected to input the rate into their pricing as the implementation commences. Last week, some business associations that had argued that the tax creates a situation of inconvenience to businesses last week met with the ...

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Lands Ministry sets July 19 to start integrated mining project

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The Ministry of Lands and Natural Resources has indicated that it will by the 19th of July, 2017, implement the Multilateral Mining Integrated Project (MMIP) aimed at sanitizing the country’s mining sector. According to a resource governance index report by the Natural Resource Governance Institute (NRGI), Ghana ranked 24th out of 81 countries involved in mining in 2016. This also comes ...

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Gov’t streamlining administration of pensions – Akufo-Addo

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President Akufo-Addo, has said that the rapid economic development anticipated from his government’s policies will translate into more satisfactory pension arrangements for the elderly. The said the Finance Ministry was already working to improve the administration of pensions in the country. “…the Ministry of Finance, despite our short period in office, is already working on procedures to streamline and improve ...

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