DDE: Banks secure 5% coupon for 2023; other revisions
The government has revised some terms of its Domestic Debt Exchange Programme (DDEP) following discussions with the Ghana Association of Banks. Hitherto, the new bonds under the programs were not to accrue any interest until 2024, starting at 0% coupon in 2023 which steps up to 5% in 2024 and 10% from 2025. But after […]
Ghana bags $696.8m from oil receipts in second-half of 2022
Ghana bagged $696.815 million from oil lifting, corporate tax and other income in the second-half of 2022, the Ghana Petroleum Funds report has disclosed. About $492.186 million was secured from oil lifting between July 2022 and December 2022. In all, five liftings took place with the Sixty-sixth Jubilee recording the highest amount of $119.83 million. […]
Adjust fiscal measures and save ¢83.5bn; don’t touch our funds – IBF to government
The Individual Bondholders Forum (IBF) has proposed some fiscal measures it say can help government save ¢83.5 billion, insisting the Ministry of Finance must not touch their funds. According to the group, government can save ¢20 billion from privatizing selected State Owned Enterprises to Tier-2 pension funds to drive efficiency and productivity. “The measures proposed, […]
Technical committee formed to ensure continuous engagement on debt programme
The Minister of Finance, Ken Ofori-Atta says a technical committee will be formed to ensure continuous engagement with all stakeholders involved in the domestic debt exchange programme. He made the announcement after meeting leaders of individual bondholder groups and other stakeholders at the Finance Ministry on Wednesday, January 18, 2023. The meeting between the Minister […]
Mines and Energy C’ttee to haul PURC to Parliament over tariff increment
The Chairman of the Mines and Energy Committee of Parliament, Samuel Atta Ahyea has said it has become necessary for the Public Utilities Regulatory Commission (PURC) to appear before the Committee to explain the decision that went into the upward adjustments of electricity and water tariffs. The interrogation, according to Mr Atta Akyea, will help in understanding […]
Registrar of Companies increases fee for business registration
The Office of the Registrar of Companies (ORC) has announced an increment in the fees and charges on all transactions including Incorporation and Registration of Businesses, Amendments, and the filing of Annual Returns. The increment took effect on Sunday, January 1, 2023. The increment according to the Office of the Registrar of Companies is in […]
NPA revokes licenses of 30 OMCs
The National Petroleum Authority (NPA) has revoked the licenses of 30 oil marketing companies. This was announced in a statement issued by the NPA. “The National Petroleum Authority wishes to bring to the attention of the general public that the licenses of the underlisted Oil Marketing Companies have been revoked for non-compliance with the rules […]
Inflation to peak in March 2023 – Economist
The increasing rate of inflation is expected to peak in March 2022, Economist and Research Lead at GCB Capital, Courage Boti, has stated. Inflation shot up by 3.8% to end 2022 at 54.1%, according to data from the Ghana Statistical Service. However, the rate of increase between November 2022 and December 2022 slowed down. Speaking to […]
SSNIT increases maximum insurable earning to ¢42,000
The Social Security and National Insurance Trust (SSNIT) has increased the maximum insurable earning for 2023 to ¢42,000, from ¢35,000. This increase takes effect from January 1, 2023. In a statement, the Trust emphasised that the increase was made after careful consultation with the National Pensions Regulatory Authority in accordance with Section 63 (3) of […]
Parliament approves reduction of E-levy rate to 1%, rejects removal of GH₵100 threshold
Parliament has approved an amendment to the Electronic Transaction Levy (E-levy) Act on Wednesday, December 21, 2022. Government during the presentation of the 2023 Budget announced a reduction of the e-levy rate from 1.5% to 1% and wanted to remove the daily non-taxable threshold of GH₵100. Government sought to make the levy applicable to any […]