T-bills auction: Government fails to meet target for 6th consecutive week
The government failed to meet its treasury bills target for the sixth week running. According to the T-bills auction published by the Bank of Ghana, the government missed the target by 6.91%. The government got GH¢ 4.624 billion from the sale of the T-bills. The target for the auction was GH¢4.96 billion. GH¢3.606 billion, representing […]
It is time to review VAT policy – GRA supports calls by business associations
The Ghana Revenue Authority (GRA) has joined calls for policy reforms to simplify the country’s tax administration. According to the Commissioner General Julie Essiam the current Value Added Tax (VAT) structure makes it difficult for individuals and businesses to comply. She made this call at the 12th Annual International Tax Conference organized by the Chartered […]
Farewell His Excellency Javier Gutierrez
The President Joaquín Roura Lama and 2nd Vice President Nadim Ghanem Parés of the chamber paid a visit to HE Javier Gutierrez, Spanish Ambassador to Ghana to bid him farewell as his three-year diplomatic assignment in Ghana concludes. Your presence in Ghana was very much cherished and your valuable work and support towards the growth of the chamber is […]
SSNIT announces shift to fixed-income-focused portfolio
The Social Security and National Insurance Trust (SSNIT), the largest institutional investor in the economy, has announced a transition to a fixed-income-focused portfolio. SSNIT’s portfolio totals GHS 16.7 billion, with 49.3 percent in equities, 34 percent in alternative investments, and only 16.7 percent in fixed income. However, SSNIT plans to significantly rebalance its portfolio in […]
Spanish Embassy launches book on Ghana’s Cultural Heritage
The Spanish Embassy in Ghana has launched a book on Ghana’s cultural heritage, with a call for collaboration and innovation to preserve and promote the country’s heritage. Titled “A Panorama of Ghana’s Heritage,” the two-part 110-page book which is the second edition, is published in English and Spanish. The first part features images of Ghana’s […]
Government institutes monthly stakeholder dialogue to ease doing business in Ghana
The government has instituted a new monthly stakeholder dialogue with both local and foreign businesses to fast-track the processes of doing business in Ghana more conducive. The engagement would feature a survey, which will track the progress made on the implementation of measures to ease doing business in the country, as well as ways to […]
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 […]
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, […]
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 […]
Govt to expand tax base and improve revenue mobilization
To boost economic growth and increase revenue mobilization, the Ghanaian government is implementing measures to improve the country’s tax-to-gross domestic product (GDP) ratio. Abena Osei Asare, the Minister of State at the Finance Ministry, has stated that while efforts to increase tax mobilization in the formal sector have been made, plans are advanced to widen […]