The collective debt of African countries according to the African Development Bank (AfDB), now stands at 70 per cent of the continent’s Gross Domestic Product (GDP). Speaking at the launch of the African Development Bank’s 2021 edition of its annual African Economic Outlook, President of the AfDB, Dr Akinwumi Adesina, called for a quick and

The African Centre for Energy Policy (ACEP) has proposed for the abolishment of the three per cent withholding tax on gold grade. According to a study conducted by the think tank, the implementation of the levy has been unsuccessful. It comes on the heels of a report by the Precious Minerals Marketing Company revealing that

The National Petroleum Authority (NPA) has reduced the addition of Ghs 0.17 pesewas to the already Parliament approved Ghs 0.30 pesewas tax charge on fuel price as contained in the 2021 budget statement. The reduction in the price of fuel followed a meeting between the Minister for Energy, the NPA, Association of Oil Marketing Companies

American credit rating agency, Fitch Ratings, has projected Ghana’s interest payments on debts to increase to 53 percent of total revenue this year. Interest payments Fitch however notes, will fall by 3 percentage points reaching 50 percent of total revenue in 2022. The projected interest payments for 2021 when compared to 2019’s interest payments of

The teams focused their efforts on a few of the highest-value S&OP levers in order to review the current planning process, identify gaps in the planning infrastructure and analytically understand demand and supply variability.

KEY POINTS A group of 130 nations has agreed to a global minimum tax on corporations, Treasury Secretary Janet Yellen announced Thursday, part of a broader agreement to overhaul international tax rules. Yellen did not announce the actual rate at which the GMT would be set, but the Biden administration has pushed for at least

Adds detail, quote, shares JOHANNESBURG, June 7 (Reuters) – South African lender FirstRand FSRJ.J on Monday said its second-half earnings would be higher than previously guided citing a quicker-than-expected economic rebound. The bank warned investors in March, when it said its first-half performance had beaten its expectations, not to expect a similar level of absolute earnings in the final six

Erstwhile Minister for Finance, Seth Terkper, has called for the introduction of sunset clause(s) in corrective temporary taxes introduced by government in times of crisis. Mr Terkper, a tax expert, touching on the introduction of taxes by governments as an austerity measure during times of economic crisis, opined that such corrective taxes having served their

Equity Bank Kenya and Co-operative Bank are among five financial institutions owing the State more than Sh1 billion in outstanding loans, the Treasury has disclosed in a report to lawmakers. The Treasury has listed the two top-tier lenders among 56 firms, mostly parastatals, which held Sh867 billion in outstanding loans from the national government at

The Minister designate for Finance, Mr Ken Ofori-Atta, has said no wrong was committed in the Agyapa Royalties Transaction. He said the then Special Prosecutor, Mr Martin Amidu, did “a disservice” to Ghana’s democracy by releasing his Corruption Risk Assessment on the Agyapa Transaction without a response from the Ministry of Finance. Responding to questions