The Managing Director of the Bulk Oil Storage and Transportation Company (BOST), Edwin Alfred Provencal, is advocating for an upward adjustment of the BOST margin from nine pesewas to 12 pesewas per liter. The BOST margin is a specific tax embedded in the petroleum price build-up designed to fund the maintenance of fuel depots and facilitate infrastructure expansion.1 Mr. Provencal …

Elon Musk’s satellite internet firm Starlink has operationalised services in the Kenyan market, setting the stage for intensified competition with local players including Safaricom, Jamii Telecommunications Limited and Zuku. The multinational, an outgrowth of Musk’s space technology firm SpaceX, has further appointed local internet firm Karibu Connect as its first authorised reseller in Kenya with a promise to offer download …

A devastating explosion caused by an unexploded mortar shell has killed more than 20 people, the majority of whom were children, in Somalia’s Lower Shabelle region. The incident occurred near the town of Qoryoley, located approximately 120km south of Mogadishu, when a group of young people aged between 10 and 15 discovered the dormant ordnance. According to local officials, the …

According to official data from the Ghana Revenue Authority (GRA), the Electronic Transfer Levy (E-Levy) generated a cumulative total of GH¢ 861.47 million between its launch in May 2022 and March 2023. During its first year of operation at the initial 1.5% rate, the controversial tax accrued GH¢ 614.57 million. The revenue performance showed a steady month-on-month increase throughout 2022, …

Vice President Dr. Mahamudu Bawumia has revealed that corruption at Ghana’s seaports results in a staggering revenue loss of approximately $8.3 million every month. This financial drain totals nearly $100 million annually, largely driven by dishonest importers and complicit officials who deliberately misdeclare container contents to evade duties. While the Port Paperless System (PPS) introduced in 2017 has significantly reduced …

Ugandan President Yoweri Museveni has stated his readiness to sign an anti-LGBTQ+ bill should it reach his table. Museveni, recently called on African nations to take the lead in rejecting the promotion of homosexuality, describing same-sex relationships as a big threat and danger to the procreation of human race. “Africa should provide the lead to save the world from this …

Tunisian President Kais Saied has issued his strongest refusal yet regarding the conditions of a $1.9 billion International Monetary Fund (IMF) bailout. Speaking on Thursday, Saied dismissed the requirements – which include cutting food and energy subsidies and reducing the public wage bill – as “diktats” that could spark civil unrest similar to the bread riots of 1983. He emphasized …

Ghana international forward, Christian Atsu, has died in the devastating earthquake that hit Turkey. The 31 year old was playing for the Turkish club Hatayspor in the heavily affected Hatay province and was residing in a luxury 12-story building in the city of Antakya when the quake struck. His body was recovered from the ruins of the building by search …

The Ghana cedi is projected to maintain its recent stability and potentially appreciate against the US dollar as the government nears the completion of its Domestic Debt Exchange Programme (DDEP). Achieving the DDEP targets is considered the final major hurdle required to unlock a crucial support package from the International Monetary Fund (IMF). Analysts suggest that the successful restructuring of …

The Office of the Registrar of Companies (ORC) has initiated a major cleanup of its database, targeting more than 513,000 business names that have lapsed due to a failure to fulfill annual renewal requirements. According to the Registration of Business Names Act, 1962, any business that fails to renew its registration within three months of the year ending is considered …