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Business

Domestic air travel grows by 24% after 17.5% VAT slash

Deputy Aviation Minister -  Kwabena Okyere Darko -Mensah

The removal of the 17.5% VAT on domestic air travel has increased Ghana’s domestic air passenger volume by 24 percent as at May 2017. The passenger volume has increased from 163,322 to 201, 851 between May 2016 and the same period this year. The Deputy Minister of Aviation, Kwabena Okyere Darko Mensah disclosed this at the Ghana Transport and Logistics ...

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GRA closes down two hotels over tax infractions

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The Ghana Revenue Authority (GRA) has shut down two hotels in Accra for failure to issue VAT/NHIL invoices. This follows investigations conducted by the BNI that showed only 3 out of 42 businesses issue VAT invoices to customers who patronized goods and services. The hotels; Adeko and New Haven which are among the 42 investigated, will face various degrees of ...

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Vodafone launches ‘Ekiki Mi’ promotion

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Vodafone Ghana has launched the ‘Ekiki Mi’ Promotion as part of plans to expand its subscriber base in the coming months. ‘Ekiki Mi’ (I feel electrified) is an exciting and unprecedented opportunity for customers to engage more with friends and family. Customers can now purchase a recharge card and share the same value with two other people. “For any credit ...

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Our petroleum dealings in Ghana legal – Glencore

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Glencore Energy UK Ltd, a company cited by the National Petroleum Authority (NPA) for operating without a license in Ghana’s petroleum downstream industry, says it only acts as an international supplier of petroleum products. Glencore was said to have been importing petroleum products for storage and sale to various customers within Ghana, in violation section 11 of the National Petroleum ...

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The Insight’s 2015 revelation: First Capital Plus Bank is collapsing

Former Chief Executive Officer First Capital Bank Plus, John Kofi Mensah

The Insight has obtained damning information indicating that the First Capital Plus Bank is on the verge of collapse. A memorandum signed by the Chief Executive Officer of the Bank, Mr John Kofi Mensah claims that it may not be able to meet its obligations to its clients. The memorandum addressed to the Board of the Bank spells out numerous ...

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UKGCC, ITSD leads oil and gas trade delegation to SPE 2017

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The UK Ghana Chamber of Commerce (UKGCC) in collaboration with the Department of International Trade and Scottish Development is leading a trade delegation from Ghana’s oil and gas industry to the 2017 Society of Petroleum Engineers (SPE) Offshore Europe, to develop models and strategies for effective technical training for the country’s oil and gas sector. The conference is a 4day ...

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Concrete roads under consideration – Nana Addo

President Akufo Addo

President Akufo Addo has reiterated government’s commitment to improving the standard of roads in the country. According to him, plans are underway to construct roads in the country with the use of concrete. This he believes will bring an end to the fast deterioration of roads soon after they are constructed. “As we have indicated, our government is considering a ...

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Manage UT & Capital Banks takeover to build investor confidence – Chamber of Commerce

Mark Badu Aboagye - CEO, Ghana National Chamber of Commerce and Industry (GNCCI)

Business Associations have impressed on the Bank of Ghana and relevant institutions to properly manage the takeover of Capital Bank and UT Bank in order not to erode investor confidence. They argue that the inability to control the transaction to protect the interest of affected businesses will ultimately affect economic growth. The concerns by the business associations have become apparent considering the ...

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Bawumia’s prediction of banks collapse was classified – Minority

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The Minority in Parliament has said Vice President Mahamudu Bawumia revealed classified information to the public when warned in 2016 that eight banks in Ghana risked collapse due to the continuous hikes of bad loans on their books and the fragile economy. The then running mate of the flag bearer of the New Patriotic Party’s warning is back in the public ...

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NPA threatens to sue Glencore for operating without license

Hassan Tampuli

National Petroleum Authority (NPA) has cited another company, Glencore, for operating without a license in Ghana’s petroleum downstream industry. The NPA, in a June 2017 letter sighted by Citi News, threatened legal action if Glencore does not cease its operations. Glencore is said to have been importing petroleum products for storage and sale to various customers within Ghana, thus flouting section 11 of the ...

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