The Ghana Revenue Authority (GRA) is undertaking an Income Tax Assessment on business mogul and Chairman of Micro Credit firm BILLS, Richard Nii Armah Quaye. The process is part of an audit system by the GRA to ascertain the level of tax compliance by the businessman. The authority has however denied freezing the financial accounts…
Ghana is losing billions in revenue due to the illegal transfer of gold, one of its most valuable natural resources, according to Minister for Finance, Dr. Cassiel Ato Forson. In a post on X, Dr. Forson exposed the severe economic toll of illicit gold smuggling, revealing that during the peak of Ghana’s financial crisis in…
The Ministry of Lands and Natural Resources has announced the revocation of all small-scale mining licenses issued after December 7, 2024, as part of a broader effort to curb illegal mining, popularly known as galamsey. This move aims to address the severe environmental damage to forests and water bodies caused by unregulated mining activities. At…
Executive Chairman of the McDan Group, Daniel McKorley has urged young individuals to focus on financial stability before entering marriage. Speaking at the 2025 PCH Hangouts at ICGC ‘New Wine Temple’ in East Legon, McKorley stressed that financial unpreparedness in marriage could be burdensome and stifle progress. “If you don’t have money, don’t marry. Marriage…
Finance Minister Dr. Cassiel Ato Forson is set to present the 2025 Budget Statement and Economic Policy to Parliament today, unveiling the first comprehensive financial strategy of the Mahama administration. This presentation comes at a critical time as the country faces significant economic hurdles, including high debt levels, inflation, and unemployment. Expectations and Key Focus…
GCB Bank PLC has announced the appointment of Professor Joshua Alabi as the new Chairman of its Board, following the resignation of Mr. Daniel Kwaku Tweneboah Asirifi, who stepped down as Director and Chairman. In a statement, the bank confirmed, “The Board has today approved the nomination and appointment of Professor Alabi as an Independent…
The government is set to raise GH¢6.353 billion through Treasury bills today, January 23, 2025, amid growing expectations of a possible reduction in interest rates after recent weeks of steady increases. The funds will be mobilized through the issuance of 91-day, 182-day, and 364-day bills, primarily to roll over GH¢5.60 billion in maturing debt. Interest…
In the first auction following Ghana’s President John Dramani Mahama’s inauguration, the government experienced a significant oversubscription on January 10, 2025, with total bids reaching GH¢8.075.75 billion—surpassing the GH¢5.198 billion target by GH¢2.877.75 billion. Results published on January 13, 2025, show the government raised GH¢5.513.76 billion from the 91-day bill, secured GH¢1.416.66 billion for the…
Minister-designate for Finance, Cassiel Ato Forson has underscored his commitment to enhancing revenue mobilisation as a key focus of his administration. He highlighted that previous finance ministers have not adequately addressed this issue to effectively boost revenue. During his vetting on January 13, 2025, Dr. Forson asserted, “I will prioritise revenue mobilisation…a lot of Finance…
In his final State of the Nation Address (SONA) delivered on January 3, 2025, President Nana Addo Dankwa Akufo-Addo urged the incoming government, led by John Dramani Mahama, to prioritize reducing Ghana’s debt-to-GDP ratio to 55% by the end of its term. Reflecting on the progress under his administration, President Akufo-Addo noted a notable decline…