Author: Admin
Total pension funds recorded a significant growth to GH¢84 billion as of the 3rd quarter of 2024. This is compared with GH¢61.8 billion recorded in December 2023 and GH¢46.6 billion in December 2022. According to the National Pensions Regulatory Authority (NPRA), the Tier-2 pension fund managed by private pension firms constitutes the biggest with a share of 54%. This is followed by the Tier-1 managed by the Social Security and National Insurance Trust with a share of 25% and Tier-3 (provident fund) with a share of 21%. About 75% of the pension funds are invested in treasury bills, treasury notes,…
Ghana would have access to about $360 million in terms of disbursement”, the Director of Communications at the IMF Julie Kozack disclosed at news conference in Washington DC USA.
Eric Anthony, Supervisor, Chief Revenue Officer, for Upstream Petroleum Audit at the Large Taxpayers Office of the Ghana Revenue Authority’s (GRA) Domestic Tax Revenue Division, has shared that employees in Ghana are expected to file annual income tax returns with the GRA by April 30, 2024, every year. Previously under Section 125 of Act 896, employees were not expected to file their own returns but per amendment 924, they are now required to file their annual income tax returns four months after the end of the basis period which falls on 31st December for all employees. And by Regulation 12…
The Producer Price Inflation (PPI) rate for October 2024 shot up by 2.5 percentage points to 33.0%. This was from 30.5% in September 2024. According to the Ghana Statistical Service, the month-on-month change in the PPI between September 2024 and October 2024 was 3.0%. The PPI in the Industry sector, excluding the construction sector increased from 43.3% in September 2024 to 48.8% in October 2024. The rate in the construction sector also increased to 31.5% in October 2024. In the Services sector, the rate recorded the same as 12.4 percent in October 2024. Similarly, the Mining and Quarrying (54.3%), recorded…
The Member of Parliament (MP) for North Tongu, Samuel Okudzeto Ablakwa, has stated that the country continues to endure power challenges due to the mismanagement of public funds by the governing New Patriotic Party (NPP). He said the government’s failure to pay Independent Power Generators (IPGs) – the producers of electricity that support the state-owned Akosombo plant is to blame for the current disruptions in power supply. Mr Ablakwa claimed that his recent discussions with some independent power producers in the country revealed that the government owes them substantial amounts of money. “We have a real problem at hand. I…
President of the Ghana Rice Inter-Professional Body (GRIB) Nana Adjei Ayeh, II Rice farmers say they are yet to benefit from the second phase of the Planting for Food and Jobs Programme. In an interview with JoyBusiness, the President of the Ghana Rice Inter-Professional Body (GRIB) Nana Adjei Ayeh, II bemoaned the lack of support from government, especially in the roll out of the programme. He pointed out that although the policy has a good outlook, many rice farmers are yet to experience practical outcomes. “We saw a very good programme, the PFJ (Planting for Food and Jobs) 2.0. I…
They also want the government to come out with a policy document to ensure government commitment for making sure that cashew becomes a major cash crop like cocoa.
He assured potential investors that sufficient land acquisition was in place to support the project.
he highlighted capacity building’s crucial role in carbon financing for developmental projects, during the session “New World of Carbon Markets
“We remain committed to delivering on our mandate, and this new facility should enable us to do so effectively,” Dr Addison said during the commissioning of the new facility in Accra last week.