Mark Badu-Aboagye The Joint Business Consultative Forum has resolved to petition President Akufo-Addo on the passage of the three revenue tax amended bills passed by Parliament later today, April 5, 2023. According to the Business Groups, the implementation of these taxes will spell doom for the Ghanaian business community, hence the need to review the taxes. They argue that businesses are battling with excessive taxes, thereby making them less attractive and uncompetitive globally. The CEO of the Ghana National Chamber of Commerce and Industry, Mark Badu-Aboagye told Joy Business it will be in the interest of government to listen to…
Author: herbert
The World Bank has lowered Ghana’s growth rate to under 2.0% in 2023, placing it at the 29th position in Sub-Saharan Africa, its April 2023 Africa Pulse Report has revealed. This is lower than the 2.7% it earlier projected. According to the Bretton Wood institution, the expected low growth rate in the country is due to deleterious global shocks and heightened macroeconomic instability. “In Ghana, more timely data highlight the weakness of economic activity amid the deleteriousglobal shocks and heightened macroeconomic instability”. It further said government consumption has declined on the back of high debt service and restricted access to international…
Governor of Bank of Ghana, Dr Ernest Addison The Bank of Ghana (BoG) has announced that charges that are not disclosed to a borrower in a loan agreement should be considered null and void. Describing borrowers who may suffer such ordeal as victims, the BoG also directed commercial banks and lenders to refund such monies to the borrowers. “Borrowers shall be due a refund of all such charges paid”, the BoG stressed in a statement titled Bank of Ghana’s Responsible Borrowing Guidelines. It added that “victims” must report such acts to the regulator if the lenders fail to reverse the…
The National Communication Director of the New Patriotic Party (NPP) says he does not know whether one of the newly elected Electoral Commissions member, Dr Peter Appiahene is affiliated with the New Patriotic Party (NPP). Richard Ahiagbah in an interview on Joy FM’s Top Story on Wednesday said, “I don’t know if Dr Appiahene is a card-bearing member of the New Patriotic Party.” He added even if he is a member of the NPP, there is no way their appointment will compromise EC’s credibility. “Assuming they are NPP people for example, what will they do necessarily? Their work is public; the work…
Ghana has dropped one place in the latest FIFA world rankings despite being unbeaten during the last international break. Prior to the latest update, the Black Stars had occupied the 59th position in the world following the 2022 FIFA World Cup campaign. However, after the March international break which saw Chris Hughton’s side win one of their two games against Angola in the 2023 Africa Cup of Nations qualifiers, Ghana has now dropped to 60th. The Black Stars still keep their 11th position on the African continent behind the likes of Morocco, who are now 11th in the world, as…
Government soldiers have been fighting armed groups in the east (File photo) One thousand Special Forces personnel have been dispatched to Bawku in the Upper East Region, where three immigration officers were shot at, one of whom died while trying to get food in front of a police station. The presence of the Special Forces is intended to increase security while also assisting investigation into the killers who are still on the loose. The Regional Minister, Stephen Yakubu made this known in an interview on Wednesday. “REGSEC, we are intensifying, government is helping us by bringing in Special Forces to Bawku,…
Some religious leaders have supported calls for the review of the 1992 Constitution to make it robust, inclusive and to conform to modern governance dynamics. The religious leaders said the review of the constitution must, however, lead to an enhancement of religious tolerance, deepened democracy, and improvements in the lives of the people. The speakers at the event were: Dr Lawrence Tetteh, President, Worldwide Miracle Outreach, Sheikh AremeyawShaibu, Spokesperson, National Chief Imam, Most Reverend Dr Paul Kwabena Boafo, Presiding Bishop, Methodist Church of Ghana, Maulvi Mohammed Bin Salih, Head, Ahmadiyya Muslim Mission, and Apostle Samuel Amponsah Frimpong, Chairman, Christ Apostolic…
The first entry requires revenue accounts close to the IncomeSummary account. This means thatit is not an asset, liability, stockholders’ equity, revenue, orexpense account. Permanent accounts, such as asset, liability, and equity accounts, remain unaffected by closing entries. Closing entries are a fundamental part of accounting, essential for resetting temporary accounts and ensuring accurate financial records for the next period. This process highlights a company’s financial performance and position. In this guide, we delve into what closing entries are, including examples, the process of journalizing and posting them, and their significance in financial management. What Is a Closing Entry? It’s…
There have been reports of alleged brutality by some soldiers who are said to have stormed Ashaiman, a suburb of Accra since midnight. This comes days after their colleague was allegedly stabbed to death by unknown assailants in the area. In some videos on social media, a young man is heard screaming amid sounds of flogging, while a neighbour quietly films from a window nearby. In other visuals, some residents were forced to roll on the ground in the muddy puddles created by the early morning rains. Member of Parliament for Ashaiman, Ernest Norgbey confirmed this to Accra-based Starr FM.…
Photo: A nurse administering a malaria vaccine to a child to mark the beginning of the expanded immunisation programme Health practitioners and experts have bemoaned the shortage of child immunisation vaccines across the country since the beginning of the year. Although the Ghana Health Service (GHS) has assured the vaccines will be restocked soon, the situation doesn’t seem to calm nerves. This is due to the critical nature of the vaccines as well as the spread of measles in some parts of the country. In an interview with JoyNews, President-elect of the Pediatric Society of Ghana, Dr. Hilda Manteybea Boye said…
