Spain Ghana CC

KPMG report: GRA paid SML GH¢1.4bn from 2018 to 2023

The full report by audit firm, KPMG on the contract between the Strategic Mobilisation Limited (SML) and the Ghana Revenue Authority (GRA) released by President Akufo-Addo on Wednesday, May 22 has disclosed that GRA paid SML a gross amount of GH¢1,400,202, 403.56 from 2018 to 2023. The report confirmed the GH¢1,061,054,778.00 net amount paid to […]

Lending to govt without parliamentary approval impedes capital market growth – Kofi Amable

Finance Lawyer Jonathan Sitsofe Kofi Amable has expressed concern over the absence of parliamentary approval for government borrowing through the issuance of domestic debt securities. He asserts that lending to the government through the issuance of treasury bills, bonds, and other domestic debt instruments issued to the Bank of Ghana without parliamentary approval of the […]

Ghana risks financial obligations if it terminates SML deal – KPMG report

Audit firm KPMG says the revenue mobilization transaction between the Ghana Revenue Authority (GRA) and Strategic Mobilisation Ghana Ltd (SML) can be terminated by either party. However, the firm, in its full report on the contract, states that the termination could trigger financial implications for the Government of Ghana (GoG) and the GRA. “Upon termination, […]

Import duties are quoted in Cedis not Dollars – GRA

The Ghana Revenue Authority (GRA) has categorically refuted allegations suggesting that import duties are calculated in dollars. Eric Boateng, the president of the Automobile Dealers Union, expressed his concerns about the impact of duties, particularly those imposed in dollars, on the businesses of second-hand car importers in Ghana during an interview with Bernard Avle on […]

Producer price inflation climbs to 16.8% in April

Producer price inflation rate accelerated to 16.8 percent year-over-year in April 2024, according to the latest data from the Ghana Statistical Service. This marked a notable 1.5 percentage point increase from the 15.3 percent recorded in March 2024. On a month-over-month basis, it rose 4.1 percent between March and April. The increase in producer inflation […]

SGCC Partners with SIM.tv for a Cinematic Documentary about Ghana

The Spain-Ghana Chamber of Commerce (SGCC) is excited to announce its strategicpartnership with the acclaimed Spanish media agency SIM.tv, on the production of acinematic documentary about Ghana for CNBC Africa. The feature, Ghana CNBCAFRICA_TV 24: ‘Africa’s Golden Opportunity’ aims to promote our nation’s vastpotential in commerce, investment, and tourism for 2024 and beyond.The film will […]

Market analysts project Cedi to range between GH¢15 and GH¢16 by end of year

The woes of the Ghana cedi may be far from over as market watchers predict it could reach between 15 and 16 Ghana Cedi to the dollar by the end of the year. The forecast comes in the wake of persistent volatility of the local currency, causing concern among Ghanaians. Bloomberg, a prominent financial and […]

GSE market cap crosses GH¢80bn

The Ghana Stock Exchange (GSE) has exceeded the GH¢80billion mark in market capitalisation for the first time, concluding April 2024 at GH¢80.32 billion. The surge in market capitalisation reflects increased trading activity. On the final day of April, the GSE saw some 29,700 shares traded, representing a market value of approximately GH¢180,800. This translates to […]

Glovo to cease operations in Ghana

Glovo, a prominent food delivery platform, has announced its decision to end operations in Ghana on May 10, 2024, despite significant investment in the last two years to expand its services. The company conveyed this development to its network of restaurant partners via email, attributing its decision to profitability issues encountered within the Ghanaian market. […]

Ghana’s economy: GIPC reaffirms commitment to attract foreign investment

The Ghanaian government has reiterated its commitment to creating a favorable investment environment to attract foreign investors and boost economic development. Yoofi Grant, CEO of the Ghana Investment Promotion Center (GIPC), highlighted the crucial role played by investors in contributing to the country’s growth and emphasized the government’s openness to collaborate with foreign partners for […]