The government is nearing a final agreement to secure 20,000 acres of fertile land in Wassa Fiase specifically for sugarcane cultivation to support the long-awaited operationalization of the Komenda Sugar Factory. This move is being paired with an active recruitment process for local outgrowers to ensure a steady supply of raw materials, addressing the primary hurdle that has historically stalled …

The Ghana Revenue Authority (GRA) has outlined plans to initiate pilot tax programs targeting the e-commerce, gaming, and betting sectors starting in April 2022. Commissioner-General Ammishaddai Owusu-Amoah stated that these new revenue streams, alongside the implementation of the E-Levy and ongoing digitization efforts, are essential for achieving the government’s GH¢80.3 billion annual revenue target. The Authority has developed a specialized …

Africa’s wealthiest individual, Aliko Dangote, has seen his net worth increase by approximately $950 million since the start of 2022. This financial growth is largely attributed to the rising share price of Dangote Cement Plc, which climbed 7% on the Nigerian Exchange following a strategic share buyback program. The company successfully executed two tranches of this program, acquiring nearly 1% …

The management of Kasapreko Company Limited has issued a formal denial regarding media reports claiming the firm is involved in money laundering and economic crimes. Responding to allegations that the company had been sued for activities causing financial loss to the state, the beverage manufacturer clarified that it has not been served with any legal summons nor is it aware …

Emmanuel Sackey, the Legal Services Manager for the Social Security and National Insurance Trust (SSNIT), has clarified that under Section 64 of the Pensions Act, employers who fail to remit social security contributions for their workers face severe legal consequences. Defaulting parties are liable for a fine of GH¢2,000, a prison sentence of up to five years, or both. Mr. …

Vice-President Dr. Mahamudu Bawumia has introduced the e-Travel Card, a digital solution designed to regulate and track travel allowances for public officials on both domestic and international assignments. This new system replaces the traditional cash-based method for distributing travel funds, which has historically been prone to risks such as fraud in imprest disbursement, physical theft, and inadequate oversight. By automating …

The South African High Commissioner to Ghana, Grace Jeanet Mason, has announced that her government has officially approved an investment mission to Ghana scheduled for late March. This initiative is a central part of post-pandemic recovery efforts aimed at strengthening economic ties and increasing capital flow between the two nations. The mission is set to take place in Tamale, a …

Finance Minister Ken Ofori-Atta has announced a significant 20% reduction in planned government expenditure for the 2022 fiscal year to ensure the nation’s financial commitments align strictly with actual revenue inflows. Although Parliament had previously authorized a total spending package of ¢135.6 billion, the Ministry of Finance has invoked the Public Financial Management Act to implement quarterly expenditure ceilings across …

Ethiopia is close to falling into full collapse as the government in Addis Ababa urges civilians to take up arms against advancing Tigrayan forces. This crisis is escalating even though the United States and other nations are calling for an immediate ceasefire. The U.S. has warned its citizens that there will be no emergency evacuation like in Kabul and advised …

A huge explosion struck Beirut on Tuesday evening, killing at least 135 people and injuring thousands. Officials say the blast was caused by a large amount of seized explosive material that had been stored unsafely in a warehouse at the port, close to busy neighborhoods. As global leaders offer help, Lebanese authorities have launched an investigation. Rescue teams worked through …