Experts push for monetization of Ghana's mineral royalties
Dr Carl Odame-Gyenti called for a review of all existing gold mining agreements to enable the country maximise the benefits of monetizing its mineral royalties. He said moving away from rent collection would require the country to look at the option of monetizing its mineral royalties.
Trotro fares may go up on Wednesday
First vice-chairman of GPRTU, Emmanuel Nii Ankrah, in an interview with Rainbow Radio 87.5Fm asked Ghanaians to expect between 20-25 per cent increment in fares. The GPRTU is in a crunch meeting in stakeholders deliberating on the percentage to add to the current fares being charged by transport operators.
AfCTA's success hinges on quality Standards
Dr Nsengimana said this when he led a delegation to pay a courtesy call on Mr Wamkele Mene, the Secretary-General of the AfCFTA Secretariat and his team in Accra to engage on standards related objectives of the AfCFTA. The need to develop a Pan-African Quality Policy is derived from Agenda 2063 of the African Union, the blueprint and master plan for transforming the continent into a global powerhouse of the future. The stakeholders pledged to work together to address issues related to women in Small and Medium Enterprises since they play a key role in the development of AfCFTA. Professor Alex Dodoo, the Director-General of Ghana Standards Authority, said Ghana was fully committed to ensuring the success of the free-flow movement of trade and investment.
OPEC keeps crude production steady before planned increases
The Organization of Petroleum Exporting Countries pumped an average of 25.27 million barrels a day last month, about 50,000 a day less than in March, according to a Bloomberg survey. The country added 60,000 barrels a day to reach 2.41 million a day, the highest level in two years.
Your margin interpretation 'twisted'
The amended margins, including the BOST margin, Primary Distribution margin, Fuel Marking margin and the Unified Petroleum Price Fund margin took effect from Saturday, 1 May 2021 on the back of the introduction of the Sanitation and Pollution Levy of 20 pesewas per litre of product and the addition of 10 pesewas on the Energy Sector Recovery Levy. The sensationalized interpretation of the increase in the BOST Margin.
Charcoal burning the only alternative livelihood for rural women
He said women idled in the dry season and thus resorted to charcoal burning to earn a living, advocating the need for alternative livelihood for the people, particularly in the dry season, to reduce the menace of deforestation. Rampant commercial charcoal production in Northern Ghana had become a serious concern to many, with the Savannah Regional Minister, taking the step to ban activities of charcoal burning in the region.
Coronavirus tax expected to generate GH¢887.7million
For the Financial Sector levy, the GRA said, an amount of GH¢217million is expected to be generated. In the case of the financial sector recovery levy, we are looking at GHS217 million.
Ghana achieves significant strides with management of mineral royalties
Addressing participants during a public forum to discuss the monetizing of the country's mineral resources on May 3, Yaw Baah said that apart from gold royalties, the MIIF is seeking other avenues of mineral royalties to maximize its benefits. Owing to this, Parliament in 2018 passed the Minerals Income Investment Fund Act 2018 which establishes the Fund to manage the equity interests of Ghana in mining companies and receive royalties on behalf of government.
Institute of ICT Professionals Ghana launches Coding Hub
The hub is to tackle the challenges of the digital skills gap by making available digital skills like coding and digital design to everybody. He said the Coding Hub was here to dismiss that myth by opening the hub as a free facility for young people and girls, in particular, to experience new and emerging technologies and get inspired to pursue careers in Science, Technology, Engineering, Arts and Mathematics.
Commodities Market as of May 4
Gold is trading at one thousand, seven hundred and eighty-two dollars, seventy-nine cents as compared to Friday's trading of one thousand, seven hundred and sixty-eight dollars. Cocoa is trading at two thousand, three hundred and twenty-eight dollars as compared to last Friday's trading of two thousand, four hundred and fifty-nine dollars.
Non-GPRTU drivers to hike fares by 40% as GPRTU considers 'reasonable' increase
The amended margins, including the BOST margin, Primary Distribution margin, Fuel Marking margin and the Unified Petroleum Price Fund margin took effect from Saturday, 1 May 2021 on the back of the introduction of the Sanitation and Pollution Levy of 20 pesewas per litre of product and the addition of 10 pesewas on the Energy Sector Recovery Levy. Of particular concern to us are:● The sensationalized interpretation of the increase in the BOST Margin.
Oil prices reach seven-week high as traders bet on improving demand
Oil has been climbing in recent weeks - amid a broad advance across commodity markets - as investors bet that the rollout of vaccines will permit a return to pre-pandemic conditions. Among the signs of weaker energy demand in India, oil shipments loaded for the nation's public-sector refiners hit a seven-month low in April, according to analytics firm Vortexa.
Develop gold sector after Ghana overtakes South Africa in production
Mr Odame-Gyenti said Ghanaians must be cheerful following the news that the country's gold production has overtaken South Africa which has always been a superpower in the mining sector. The shifting location of Africa's primary gold hub is best encapsulated by the likes of AngloGold Ashanti and Gold Fields - traditionally known as South African industry stalwarts - who have decided to move their focus to other countries, including Ghana.
BOST rejects IES' 'twisted interpretation' of margin increment
The sensationalized interpretation of the increase in the BOST Margin. The conclusion that the GH 3 Pesewas upward adjustment of the BOST Margin eleven months ago has not been properly justified by BOST and that the company continues to underperform despite the intervention.
Government banks on PanaBios to avert third coronavirus wave, check fake results
The deployed of the comprehensive technology for use by all travelers is part of efforts to avert a third wave of the COVID-19 pandemic and to address the issue of fake results presented by some passengers to health authorities. The third wave of the disease in these countries and increased imported cases in April, has forced some countries to restrict travel to persons who have recently visited countries with experiencing a third wave in Europe, Asia and Latin America.
You will receive your monies in full, don't panic
Rev. Tetteh said out of the total claimants who have signed up for the full bailout programme, a total amount of GH¢768. For the claimants with validated claims in excess of the GH¢50,000 threshold, he assured them that the full bailout package would be triggered when the liquidation orders are granted.
Withdraw nuisance, insensitive margins on petroleum products
The think-tank in a statement, described the decision by the National Petroleum Authority, which saw GHp3 per litre added on all liquid products except for premix fuel, MGO foreign, gasoil mines, gasoil rig, plus an addition of GHp3 per kilograms on LPG, as the Unified Petroleum Price Fund Margin, as nuisance and insensitive to the plight of Ghanaians. The IES finds these new amendments in the various margins as nuisance and insensitive to the Ghanaian petroleum consumer, particularly as the impact of the Covid-19 pandemic is still felt by the majority of Ghanaians.
Ghana should boldly monetize its minerals royalties
The forum organized by the Minerals Incomes Investment Fund provided a platform for the banking experts, Minerals governance experts, academics and students to explore the concept and best practices of monetizing of minerals royalties. Dr Carl Odame-Gyenti called for a review of all existing gold mining agreements to enable the country maximise the benefits of monetizing its mineral royalties.
Interbank Board: Exchange Rate for May 4
The South African Rand is trading at a buying price of 0.3956 and a selling price of 0.3960 as compared to last Friday's buying price of 0.4012 and a selling price of 0.4032. Nigeria's Naira is trading at a buying price of 71.5467 and a selling price of 71.5676 as compared to last Friday's buying price of 71.4587 and a selling price of 71.4954.
Banks ditch businesses to satisfy government borrowing appetite
According to data published by the Bank of Ghana, the asset structure of the industry shows investment in government instruments in the first two months of the year makes up 43.1 percent, while net advances - loans given out - takes just 28 percent. Again, the data show banks investments shot up by 45.9 percent to GH¢67.9billion, compared to growth of 7.2 percent in the prior year.