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The Ghana Revenue Authority (GRA), says it has readied itself for the implementation of the much-talked about E-levy starting this Sunday, May 1, 2022. It said it has put in place adequate measures to ensure the smooth take off of the new tax. It said it has broadly consulted all relevant stakeholders to ensure that the collection of the E-levy commences on Sunday May 1, 2022 as earlier announced. “The Authority assures the general public that adequate measures have been put in place to ensure the smooth implementation of the Levy,” it said in a statement. “GRA has held several technical sessions and engagements with the various charging entities (Electronic Money Issuers, Banks, Payment Service Providers, and Specialized Deposit-taking Institutions) on the implementation of the E-Levy, with the aim of ensuring that the charging entities are in a position to implement the Levy by the due date,” it added.Earlier this week, the GRA said in a letter to Charging Entities that the implement...

  Vice President, Dr. Mahamudu Bawumia, has asked African countries to introduce innovative ways and strategies to sustain the increased consumer preference for digital payments. According to him, this will ensure the smooth and effective implementation of the Pan African Payment and Settlement System (PAPSS) as well as an increase in intra-African trade.  Speaking at the commercial launch of the Payment System in Accra, Dr. Bawumia also called for strict enforcement of the African Continental Free Trade Area, AfCFTA, and the regulatory framework for financial services to alleviate some of the challenges of regulatory divergence. “We have also witnessed the negative effects of the Covid-19 pandemic on the economies across the globe, and more especially on the African economies. The pandemic continues to reverse some of the economic gains we have achieved and also brought to the fore sustainability of some of these interventions. Trade has also been impacted through disrup...

  Tax Analyst, Francis Timore Boi has bemoaned the trend of tax policy inconsistencies from the government. According to him, the regular announcement of tax policies followed by a withdrawal of same isn’t good for the government. Since 2017 till date the government has made major U-turns in connection with some key policy proposals, including the mandatory towing levy, the luxury vehicle levy, the benchmark values discount policy, among others. Currently, government is embarking on a sensitization campaign on the controversial E-Levy after major pushback from different quarters. In an interview with   Citi Business News  on the best way forward, Francis Timore Boi charged government to do comprehensive engagement with all relevant stakeholders on future policies. “The problem I have is the policy inconsistencies. For example, we have the African Continental Free Trade Area Agreement and the Headquarters being in Ghana. Our aim is to produce and export under the prog...

  The beverage market in Ghana is worth ¢3.85 billion, of which domestic production dominates, accounting for 92% of the total market size, a survey by local research firm, Firmus Advisory has revealed. This is based on the number of bottles produced, consumed and the value of imports. However, the market size of imported beverages is estimated at ¢300 million, representing 8% of the market share. The report which sampled consumers in Accra, Kumasi and Sekondi-Takoradi found out that demand for beverage consumption has shot up, as most consumers drink 3 to 5 times each week. It identified that the size of the beverage market keeps expanding and is expected to grow rapidly year-on-year, going forward. 77% of bottles of beverage consumed were non-alcoholic, whilst 23% were alcoholic. Despite the impact of Covid-19 on the Ghanaian economy last year, the number of beverage products consumed slightly outpaced that of 2019. The price of alcoholic beverage was also more expensive than non...

Stop attempts to gag your employees – Minority to GRIDCo The Minority in Parliament has condemned an alleged move by GRIDCo to get its employees to sign a fresh Oath of Secrecy which will bar them from speaking on issues affecting the company. “This attempt is dangerous, it is inimical to the growth of the company and affront to the Right to Information Act,” the Minority said in a statement signed by Adam Mutawakilu, MP for Damongo and Ranking Member of the Mines and Energy Committee. The statement said as part of conditions of service of employees of GRIDCo, no employee is expected to speak to or release any such sensitive or classified information from the company to the general public and this is strictly applied and adhered to by employees “but the recent attempt to introduce the signing of an oath of secrecy is alien to the conditions of service and the conventions as practised in the company over the years.” The Minority noted that it suspects that as election 2020 dra...

Coronavirus: Transport usage will change after lockdown The number of people using public transport in Britain's cities could be 20% lower than normal after the end of the coronavirus lockdown. In London, commuters using buses and tubes could fall by as much as 40% from pre-lockdown levels. Rail use could drop by 27%, a poll for transport consultants SYSTRA has found. The survey results capture people's current attitudes about returning to work, but some changes may be carried on into the long term. The results are bad news for the government, which wants more people to  use public transport to cut emissions  that are fuelling climate heating. It could lead to more people driving to work. It's also challenging for public transport operators, which will face a sharp drop in income until public confidence returns. But the survey offers a glimmer of good news too. It suggests that of those expecting to reduce their use of buses and trains, 24% said they pl...

MTN Group ranked Africa’s top telecoms brand MTN has been awarded the most valuable telecom brand in Africa in a recent annual report by Brand Finance, a leading independent brand valuation consultancy. The report stated that MTN’s brand value was boosted by a solid overall performance for the year, despite challenging economic conditions and regulatory challenges in some markets. Brand finance also recognised MTN for its focus on customers and providing a high-quality service across all its markets. “Amid these unprecedented times in fighting a global pandemic, MTN Group is humbled by the Brand Finance recognition and our progress in rising up through the ranks of this year’s Telecoms 150 report” said MTN President and Group CEO, Rob Shuter.Brand Finance CEO, David Haigh stated that, “MTN is to be commended for its performance in its home market as well as further afield. They are increasingly recognised throughout Africa by their customers as providing high quality servic...

Ghana’s COVID-19 case count rises to 1,279 with 134 recoveries Ghana’s COVID-19 case count has risen to 1,279 from the 1,154, after125 more cases were confirmed in the country. According to the latest Ghana Health Service update of April 24, 2020, Oti and Western North Regions have now recorded cases increasing the number of regions affected by COVID-19 to 12 out of 16 regions in Ghana. The update indicates that 14 more people have recovered from the virus, putting the total number of persons who have recovered from COVID-19 in Ghana at 134. One more death has been confirmed bringing the number to 10. Regional breakdown The Greater Accra Region still leads with the highest number of positive cases, followed by the Ashanti and Eastern Region. Greater Accra region – 1,089 Ashanti region – 69 Eastern region – 56 Northern region – 13 Oti region – 13 Volta region – 10 Central region – 9 Upper East region – 8 Upper West region – 8 North East region – 2 We...