Business & Money

Final DKM payments starts on December 16th – Official Liquidator

Payments for DKM customers who were validated manually are expected to commence on Wednesday 14th December, 2016. This is the assurance from the Principal Company Inspector for the Official Liquidator for DKM, Jones Nathaniel Ansah. According to him, the December 14th date was arrived at after the initial November12 date was rescheduled. “The payment was supposed to start on Monday ...

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Business activities slows down in T’di

Business activities in Takoradi are still slow after the general elections on Wednesday. Shops and stores which hitherto did not open on Wednesday all opened on Thursday to sell their goods and wares to buyers and sellers. A visit to the Central Business District in Takoradi specifically the Takoradi Market Circle shows that there are no brisk activities going on ...

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GRA’s automated systems rakes in billions

The Ghana Revenue Authority (GRA) has recorded massive shoot-up in tax mobilisation through the deployment of Total Revenue Integrated Processing System (TRIPS). The GRA said many companies now use TRIPS to automate the processes for assessing, filing and payment of various domestic tax forms such as Income Tax, PAYE, VAT, Withholding Tax, Gift Tax, etc. TRIPS which was developed by ...

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BEIGE Group has bright prospects ­- Nyinaku

BEIGE Group has bright prospects ¬- Nyinaku Mr Mike Nyinaku, the Chief Executive Officer of the BEIGE Group, a financial services provider, says the future of the company is bright. In an interview with the Ghana News Agency in Accra, Mr Nyinaku said the Beige Group has been resolute in the pursuit and execution of the corporate strategy which had ...

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Electricity to go up by 59.2%, water 67.2% – PURC

The Public Utility Regulatory Commission (PURC) has increased electricity tariff by 59.2 % and water tariff by 67.2% for residential consumers. The commission announced that changes are expected to take effective from December 14, 2015. A statement signed by Nana Yaa Jantuah Director of Public Relations at the PURC noted, “The significant change and increasing dependency on thermal generation has ...

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New financing models needed for business growth

The country needs to reform the existing business financing architecture to make it possible for more businesses to access formal finance, Professor Joshua Yindenaba Abor, Dean of the University of Ghana Business School has said. “Private enterprises are considered the engine of growth. However, in Africa, the nature of the financial market tends to restrict access to formal finance, thus ...

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Ghana and Japan sign $100m loan agreement

Ghana has signed a $100-million (11,239 billion Yen) loan agreement with the Japan International Co-operation Agency (JICA) for the construction of a 540-metre long cable-stay steel bridge over the Volta River at Volivo and Dofor Adidome in the Volta Region. The agreement marks the resumption of the Yen loan Scheme after it was suspended when Ghana joined the rank of ...

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New cement factory to produce 1 million tons of cement annually opened

A new cement factory has been commissioned in the Free Zones enclave in Tema with the capacity to produce one million tons of cement annually. The CIMAF Cement Factory has become the third local cement manufacturing company after Ghacem and Diamond Cement. The Factory is spread over 14 acres of Land inside the Tema Freezone Enclave and has cutting edge ...

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Matured bills & bonds reach GHC145bn in 2016

Total bills and bonds auctioned this year, from January to October, by the government, Bank of Ghana, and COCOBOD including already issued longer-term bonds that matured this year, have hit GH¢145 billion, data from the Central Securities Depository has shown. The successful issue of over GH¢145 billion debt securities “may be partly attributed to the attractive interest rates being offered ...

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Mining injects GHC1.35bn to economy

Chief Executive Officer (CEO) of the Ghana Chamber of Mines, Mr. Sulemanu Koney, has hinted that the mining sector is a leading tax payer and contributor to the Ghana Revenue Authority’s (GRA’s) domestic collections in recent years. He disclosed that the sector alone contributed about GH?1.35 billion to GRA, representing 14.8% of GRA’s total direct taxes in 2015. He said ...

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