Ghana Gas saves $3m monthly after local engineers takeover from Chinese

Ghana Gas saves m monthly after local engineers takeover from Chinese

The Ghana National Gas Company Limited has revealed that it has saved the country about 3 million dollars per month through its localized operations. The State Company maintains that since local engineers took over active operations from the Chinese, it has recorded significant gains that protect the national purse from avoidable waste. Speaking at the State agencies report, a press engagement platform put together by the State Interests and Governance Authority (SIGA) in collaboration with the Ministry of Information on Wednesday, January 11, 2023, the Chief Executive Officer of the…

IMF move at risk if debt exchange fails – Joe Jackson

IMF move at risk if debt exchange fails – Joe Jackson

A Financial Analyst, Mr Joe Jackson has said Ghana risks losing the support it is seeking from the International Monetary Fund (IMF) if the domestic debt exchange programme does not go through. He explained that if the debt exchange fails, the country would not be able to achieve the debt sustainability, which is a requirement that the IMF is looking out for. Speaking on the Ghana Tonight show with Alfred Ocansey on TV3 Wednesday January 11, he said “if we don’t get this debt exhange programme through then we will not be…

1% E-levy: GRA to reimburse customers wrongfully overcharged

1% E-levy: GRA to reimburse customers wrongfully overcharged

The Ghana Revenue Authority (GRA) has assured to reimburse mobile money customers who are wrongfully overcharged following the implementation of the 1 percent levy on electronic transfers. The reduction of the Electronic Transfer Levy (E-Levy) from 1.5 to 1 percent commenced on Wednesday, January 11. The reduction of the levy was made known in the 2023 Budget and Economic Policy Statement presented on the floor of Parliament last year by the Finance Minister, Ken Ofori-Atta. A Member of the E-levy Technical Committee GRA, Opoku Afriyie Asante said adequate measures have…

1% revised E-Levy charge kicks off today

1% revised E-Levy charge kicks off today

The Ghana Chamber of Telecommunications will commence the implementation of the revised Electronic Transfer levy (E-Levy) rate of 1% from today, January 11, 2023. The government presenting the 2023 Budget and Economic Policy Statement, reviewed the 1.5 percent electronic transaction levy downwards to 1 percent effective January 2023. The reduction has also been approved by Parliament. The chamber in a statement said it is working “assiduously with the Ghana Revenue Authority (GRA) and other key institutions, to ensure a seamless implementation of the revised levy from Wednesday, January 11, 2023.”…

Cedi rise is a result of support and confidence of Ghanaians in the govt – Miracles Aboagye

Cedi rise is a result of support and confidence of Ghanaians in the govt – Miracles Aboagye

Presidential Staffer Mr Dennis Miracles Aboagye has said that the sudden rise of the Cedi and the recovery against the dollar is as a result of the ‘unflinching’ support and confidence of Ghanaian citizens in the government. He said the support Ghanaians are giving to the government is bearing fruits. “We fall, we rise,” he said. He further indicated that due to the Cedi performance, “Car Spare Parts prices have been reduced by up to 15%. Hopefully, further deeper reduction early January as well” In order to hold on to the…

Debt exchange programme not our focus – IMF Chief

Debt exchange programme not our focus – IMF Chief

The International Monetary Fund (IMF) Mission Chief to Ghana, Stéphane Roudet has said the Fund is not concerned about the Government’s domestic debt exchange programme. Mr. Roudet said the Fund doesn’t instruct Governments or member countries on how to restructure their debts but only plays an advisory role until the country’s debts are sustained. Asked what role the Fund will play in ensuring the successful implementation of the debt exchange programme since a lot of fund managers are objecting, Mr. Roudet said, “it is not for us to speculate what…

Rethink Debt Exchange programme – UTAG tells govt

Rethink Debt Exchange programme – UTAG tells govt

The University Teachers Association of Ghana (UTAG) has told the government to have a second look at the Debt Exchange porgramme following the concerns raised by stakeholders. Stakeholders including the Ghana Medical Association (GMA), the Ghana National Union of Traders Association (GUTA), the Trades Union Congress (TUC) have all rejected the  programme that was launched by the Finance Minister Ken Ofori-Atta on Monday December 6. UTAG also said they take serious exception to any intervention that would worsen the plight of the already impoverished University Lecturer. “In particular, we reject the wholesale implementation of the recently…

AirtelTigo becomes first telco to introduce eSIM service in Ghana

AirtelTigo becomes first telco to introduce eSIM service in Ghana

Poised to give customers access to cellular service via a virtual SIM, network operator AirtelTigo introduces Embedded SIM (eSIM) service in Ghana. This means that users with eSIM compatible phones will no longer require physical SIM cards, allowing them to use different providers on the same phone. From the left: Hon. Ursula Owusu-Ekuful, first AirtelTigo eSIM customer, Atul Narain Singh (AirtelTigo CMO) and Leo Skarlatos (AirtelTigo CEO) Photo courtesy AirtelTigo This makes AirtelTigo the first network operator in Ghana to offer this service. The eSIM technology has become a part of…

2023 Budget: Who Could’ve Imagined Akufo-Addo Who Led Kumepreko Demo Will Increase VAT – Ablakwa

2023 Budget: Who Could’ve Imagined Akufo-Addo Who Led Kumepreko Demo Will Increase VAT – Ablakwa

Member of Parliament for North Tongu, Samuel Okudzeto Ablakwa, is surprised over the government’s decision to increase Value Added Tax (VAT). The Finance Minister has proposed in the 2023 budget presentation an increment in the Value Added Tax (VAT) by 2.5 per cent. The standard VAT rate is 12.5%, except for supplies of a wholesaler or retailer of goods, which are taxed at a total flat rate of 3%. But reacting to the announcement in a Facebook post, the MP said: “Who could ever have imagined or predicted that Nana Addo Dankwa Akufo-Addo who…

GNPC on the brink of bankruptcy – State Enterprises committee of Parliament warns

GNPC on the brink of bankruptcy – State Enterprises committee of Parliament warns

The Committee on Employment, Social Welfare and State Enterprises of Parliament is asking the government to desist from using the Ghana National Petroleum Corporation (GNPC) as its cash cow in funding activities unrelated to its mandate. Speaking in Parliament on Tuesday, the Ranking Member on the committee, Dr. Kwabena Donkor said “without the injection of new funds, GNPC is on the brink of bankruptcy.” “The financials don’t speak well of GNPC. The future is bleak for GNPC and, therefore, we must insist that GNPC stays on the straight and narrow…