Author: Admin

The Cashew Traders and Exporters Association of Ghana is calling for urgent government intervention to address what they describe as a growing threat to their industry posed by unauthorized foreign buyers. According to the Association, these individuals, whom they allege are operating under the guise of exporters, are purchasing cashew crops at inflated prices far above the official rate. This practice, the traders argue, undermines local trade practices, destabilizes the market, and poses a significant risk to the long-term viability of the cashew industry. Mr. Kwabena Owusu, National Organizer of the Cashew Traders and Exporters Association, highlighted the issue in…

The African Trade Chamber has successfully launched its flagship Future Trade Leaders Fellowship Program, welcoming 120 young trade professionals and policymakers from 24 countries across Africa and the Caribbean. This transformative initiative is designed to empower emerging leaders to advance intra-African trade and leverage the opportunities offered by the African Continental Free Trade Area (AfCFTA). The Fellowship aims to equip participants with the skills, knowledge, and networks necessary to address trade barriers and support the implementation of AfCFTA. Through a year-long curriculum comprising workshops, mentorship programs, expert-led seminars, and peer-to-peer learning opportunities, the program provides a comprehensive platform for capacity…

Asante Gold Corporation has in its Definitive Feasibility Study (DFS) for the Bibiani Mine confirmed a seven-year underground mining plan that could yield approximately 831,000 ounces of gold at an attractive all-in sustaining cost (AISC) of US$1,035 per ounce. This expansion follows the company’s revitalization of Bibiani since its acquisition in 2021. Key developments include a planned underground mining commencement in late 2025 and upgrades to existing facilities, such as the sulphide treatment plant, set for completion by mid- 2025. These improvements aim to support an ambitious target of annual production exceeding 250,000 ounces by 2026. The Definitive Feasibility Study…

The Civil and Local Government Staff Association (CLOGSAG) has appealed to President Mahama to scrap agencies such as the Technical, Vocational Education Training (TVET) and Commission for Technical and Vocational Educational Training (COTVET) since they duplicate functions of the Civil Service. According to CLOGSAG, the Civil Service as part of its functions, performs technical and vocational training and it was hived off, which has made some ministries ineffective. Executive Secretary of CLOGSAG, Isaac Bampoe Addo spoke exclusively with labour affairs journalist Daniel Opoku in reaction to the recently announced merger of some ministries by President John Mahama. “The President should…

The Minister of Finance designate, Dr Cassiel Ato Baah Forson, has promised to carry out significant reforms in the implementation of the Value Added Tax (VAT). He said this will give huge relief to businesses that are suffocating under the presented chaotic and distorted implementation of the VAT. Dr Ato Forson was speaking during his appearance at the Appointments Committee of Parliament last week. He said concerns raised by the business community so far include unpredictable tax policy and administration such as distorted VAT regime. To this end the government will undertake a comprehensive review of Ghana’s VAT regime as…

The immediate past Finance Minister, Dr. Mohammed Amin Adam, has earned the admiration of the Managing Director of the International Monetary Fund (IMF), Ms. Kristalina Georgieva for his exceptional leadership and significant contributions to Ghana’s economic stability during his tenure. In a letter to bid farewell to the former Minister, Ms. Georgieva commended Dr. Amin Adam for his commitment to the successful implementation of Ghana’s US$3 billion dollars-IMF-supported program. This, she said played a key role in restoring Ghana’s macroeconomic stability, ensuring debt sustainability and fostering inclusive growth during challenging economic times. “You have had a profound impact on Ghana…

The Executive Director of the Africa Centre for Energy Policy (ACEP), Benjamin Boakye, has raised concerns over inefficiencies and mismanagement in Ghana’s downstream energy sector, calling for urgent reforms to optimize tax revenue and improve accountability. Speaking in an interview last week on the current state of the Bulk Oil Storage and Transportation Company Limited (BOST), Mr. Boakye criticized the institution for straying from its core mandate of maintaining strategic fuel stocks and instead engaging in commercial activities that compete directly with private sector Bulk Distribution Companies (BDCs). “BOST was established to build capital and compete internationally while keeping strategic…

The African Centre for Energy Policy (ACEP) is calling for a change of all petroleum margins into tax revenues to free up some GHc6.3 billion for the government. According to Policy Lead, in charge of Petroleum and Conventional Energy at ACEP, Kudzo Yaotse this will free up some GH₵6.3 billion in annual revenues to fund critical projects. Speaking at a press conference on Ghana’s Downstream Petroleum sector, he said social programmes such as the Free Senior High School policy are confronted with challenges, hence the need to channel some of the funds to the educational sector and other areas. “Convert…

Finance Minister-designate, Dr. Cassiel Ato Forson, has assured the public that the government will address the challenges arising from the Domestic Debt Exchange Programme (DDEP) and will ensure that all necessary repayments are made. Speaking before the Appointments Committee of Parliament last week, Dr. Forson committed to implementing measures that will resolve the negative impacts of the debt restructuring initiative on the country’s economy and its citizens. The Domestic Debt Exchange Programme, launched to tackle Ghana’s escalating debt crisis, involved the restructuring of domestic bonds and debts. However, the programme has faced significant backlash due to the losses sustained by…

A forensic audit of the ECG financial account by PricewaterhouseCoopers (PwC) has uncovered GH¢ 303.48 million in unexplained “tax offsets,” raising serious questions about financial transparency and revenue allocation within the power sector. The PwC audit, covering October to December 2023, reveals that Ghana’s primary electricity distributor made these substantial deductions without providing supporting documentation or clear rationale for the transactions. According to the audit report, ECG recorded GH¢253.48 million in tax offsets in November 2023 and an additional GH¢50 million in December 2023. These deductions were made before calculating revenue available for Level B beneficiaries in the Cash Waterfall…