Reduce revenue leakages at ports – Finance Minister charges Customs

The Minister of Finance, Ken Ofori-Atta, has charged the Customs Division of the Ghana Revenue Authority to put in more efforts to reduce revenue leakages at the ports. According to him, this will bolster government’s quest to significantly improve Ghana’s tax to Gross Domestic Product, from 13% to 20% by 2024. Speaking at the International …

TIME Magazine names Accra as the best place to visit in Africa

TIME magazine has named Ghana’s capital, Accra as the best place to visit in Africa. The recognition places the city ahead of Benguerra Island of Mozambique and Egypt’s Cairo who followed respectively. According to TIME’s 2021 World’s Greatest Places, Accra is now easier to access with the many flights that come into the country daily. …

Ghana Customer Service Index 2021: Public Sector ranked last in customer services

The Hospitality Sector maintained its position as the best ranked sector in customer services in the country in 2021 by the Ghana Customer Service Index report. The sector recorded a score of 73.16%, a marginal decline from 2020. The Telecom and Banking Sectors followed suit, though they recorded reduction in their percentage scores. The research …

Deal for manufacture of vaccines will be signed on Feb. 16 – Akufo-Addo

Ghana’s quest to manufacture its own vaccines will soon see the light of day, as President Akufo-Addo expects to sign the necessary documentation by February 16, 2022. President Akufo-Addo is expected to meet officials of Pfizer and other vaccine manufacturing companies in February. “The signature is due for the 16th. We want to be able …

Ghana earns $7.33bn from oil production since 2011

Ghana secured $7.33 billion dollars in revenue since it started commercial oil production in 2011, the 2021 Semi-Annual Report of Petroleum Funds has revealed. Of the earnings, $6.02 billion was obtained from total liftings, whilst $1.32 billion came from corporate tax, surface rental, amongst others. In terms of disbursement of the crude oil receipts, $1.26 …

Government tasks GRA to collect ¢80.3 billion revenue for 2022

Government has tasked the Ghana Revenue Authority (GRA) to mobilise ¢80.3 billion as revenue for the 2022 financial year. The GRA exceeded its 2021 revenue target of ¢57.32 billion. Mr George Swanzy Winful, who represented Ken Ofori-Atta, the Minister of Finance at the International Customs Day (ICD) Celebration, said the government commended the management of …

Ghana’s economy rebounding strongly – Nana Addo

The President, Nana Addo Dankwa Akufo-Addo, says Ghana’s economy is gradually bouncing back from the ravages of the coronavirus pandemic. Nana Akufo-Addo says with GDP expected to grow at 5.21 percent, Ghana is on the right track. Government has come under fire for what many say has been a poor management of the economy compounded …

Global shipping costs are moderating, but pressures remain

Shipping costs soared over the past year as consumers unleashed pent-up savings to buy new merchandise while the pandemic continued to snarl the world’s supply chains. Container rates have more than quadrupled since the start of the pandemic, with some of the biggest gains concentrated in the first three quarters of last year. Lockdowns, labor …

E-levy to come back at same rate of 1.75% – Ofori-Atta

Despite the agitation and controversies surrounding the Electronic Levy (E-levy) which resulted in a brawl at Parliament last December, Finance Minister Ken Ofori-Atta has maintained that there will be no change in the rate when it is reintroduced in the House. After a series of back and forth between members of Parliament from both divides, …

NPA extends removal of Price Stabilisation & Recovery levy to reduce fuel prices

The National Petroleum Authority (NPA) has extended the removal of the Price Stabilisation and Recovery Levies (PRSL) on petrol, diesel, and LPG to the end of January 2022 following a directive by the President. In a statement, it provided the price build-up for the Oil Marketing Companies, which amounted to zero. The Energy Sector Levies …