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BUSINESS NEWS

CAL Bank appoint new group CEO

Cal bank has nominated Philip Owiredu as the bank’s new CEO prior to an approval by the Bank of Ghana. A statement from the bank said upon approval, Mr. Owiredu is expected to assume the position in January 2020. The appointment follows the retirement of the current Managing Director, Frank Adu. Mr. …

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Ministry of Communications sued over ‘Talk tax’ by Citizen

A directive by the Ministry of Communications to telecommunication companies to stop the upfront deductions of the Call Service Tax (CST) from subscribers is being challenged at the Accra High Court. It is the contention of the applicant, Mr Dzifa Gunu, who sued in his capacity as a citizen of …

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$600m COCOBOD loan is for 2020 campaign – Minority alleges

The Minority in Parliament has raised eye brows over a $600 million loan agreement between the government of Ghana and the African Development Bank for the productivity enhancement of cocoa in the country. Government is seeking to use over 10 million dollars of the $600 million loan to gather a …

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Surfline rolls out “AlwaysOn” Unlimited data plan

Surfline, Ghana’s premier 4G LTE internet service provider, has unveiled new Unlimited Bundle to the benefit of new and existing subscribers. Dubbed the “AlwaysOn Bundle”, new and existing customers will be able to subscribe to an Unlimited internet package and stay connected all month long without worrying about data exhaustion. Speaking …

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Kwame Agyeman-Budu appointed acting Electricity Company Managing Director

Kwame Agyeman-Budu has been given an interim appointment as the Managing Director of the Electricity Company of Ghana (ECG) following the exit of Ing. Samuel Boakye Appiah who served for three years. Mr. Agyeman-Budu, until his appointment, was the Deputy Managing Director at ECG in charge of Corporate Services. The outgone CEO …

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Gold Coast Fund Management customers unhappy over government’s silence on locked up cash.

Customers of Gold Coast Fund Management now Black Shield Fund Management say the government has failed to respond to their petition to help them retrieve their locked up monies from the embattled investment firm. The disgruntled customers embarked on a demonstration on October 15, 2019, to push for the government’s intervention …

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Revenue targets too optimistic — Finance Minister Ken Ofori-Atta

Finance Minister Ken Ofori-Atta has described the government’s revenue target set over the past four years as somewhat over-ambitious given that tax compliance has generally not performed beyond expectations. The government’s revenue target for July 2019 fell short by GHS5 billion; prompting concerns from the International Monetary Fund (IMF) that …

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Telcos fix November 26 to stop upfront Communication Service Tax (CST) deduction.

Mobile network operators say they will from November 26 stop the upfront deduction of the 9 percent communication service tax. The decision follows a series of consultations with the regulator, the National Communications Authority (NCA) as well as tax authorities. According to a statement issued by the Ghana Chamber of …

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