Chamber of Mines: 60% Tax Rate Risks Killing Investment (Ghana Urged to Review Mining Levies!)

The Ghana Chamber of Mines has raised the alarm about Ghana’s rising tax burden, saying that the country’s average effective tax rate, which is close to 60%, could stop future domestic and foreign investment in the mining sector. Kenneth Ashigbey, the Chief Executive Officer, said that the total burden, which includes a 5% royalty, a…

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Oppong Nkrumah: Gov’t Failing Cocoa Reform (LBCs Owed GH¢10bn, Old IMF Plan Ignored)

The Minority Spokesperson on Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, has criticised the government’s handling of cocoa sector reforms, arguing that a structured reform programme had already been agreed with the International Monetary Fund before the previous administration left office. Speaking on TV3’s Hot Issues on February 22, he said the current government…

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Parliament OKs Oil Deal Extensions to 2040 ($2bn Investment, More GNPC Interest Secured)

To protect the continuity of upstream operations and keep production going in mature fields, Parliament has approved extending the West Cape Three Points (WCTP) and Deepwater Tano (DWT) petroleum agreements until December 31, 2040. The extensions, which involve the government, Ghana National Petroleum Corporation, GNPC Exploration and Production Limited, Tullow Ghana Limited, Kosmos Energy Ghana…

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24-Hour Economy Team, BoG Forge Ties (Focus on Food Security, SME Credit, Stable Prices)

As the 24-Hour Economy Program in Ghana moves into its operational phase, the Secretariat has asked the Bank of Ghana to share policy details, get feedback, and build strategic partnerships. Goosie Tanoh, a presidential advisor, said that the program’s goal is to improve macroeconomic stability by making targeted changes, such as the proposed Food Security…

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GoldBod Boss Warns: Hoarding Gold Threatens FX Inflows (District Buying Centres Coming)

Sammy Gyamfi, the Chief Executive Officer of the Ghana Gold Board (GoldBod), has warned licensed buyers not to hoard gold because it is a serious threat to Ghana’s foreign exchange inflows and economic stability. At a meeting with the Licensed Gold Buyers Association at the University of Professional Studies in Accra on February 13, he…

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