Joy Business Ghana

Daniel Nuer, Head of the Tax Policy Unit at the Ministry of Finance, Ghana, has revealed that the Ministry of Finance is working to introduce about 36 more Double Taxation Agreements. This is in addition to the 14 currently being enforced in Ghana. According to Mr. Nuer, six of the agreements are pending Parliamentary ratification, five are still being negotiated (Hungary, Israel, UAE, Korea, and Egypt), while five more have been concluded but are yet to be signed. Furthermore, while discussions have begun on three others, three more are being renegotiated. “We are renegotiating them because although they were negotiated a while back - some more than 20 years ago, they were not ratified. Things have changed then, such as models which are now outmoded so we need to renegotiate them and bring them up to date “, he remarked during a UK-Ghana Chamber of Commerce (UKGCC) and PwC Ghana webinar on Tax Residency Rules in Ghana: Preparing Multinationals for Compliance”.

The total value of secured loans granted and registered by banks and SDIs in quarter 2, 2024 was GH¢10.8 billion, about 83.1% increase over that of 2023.

Daniel Nuer, Head of the Tax Policy Unit at the Ministry of Finance, Ghana, has revealed that the Ministry of Finance is working to introduce about 36 more Double Taxation Agreements. This is in addition to the 14 currently being enforced in Ghana.

Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), has announced to the Executive Board her proposal to appoint Nigel Clarke to the position of Deputy Managing Director, effective October 31, 2024.

The Electricity Company of Ghana (ECG) has launched a significant initiative to replace outdated and malfunctioning electricity meters across the Accra East region with advanced Smart MMS-compliant prepaid meters.

The total value of secured loans granted and registered by banks and SDIs in quarter 2, 2024 was GH¢10.8 billion, about 83.1% increase over that of 2023. In 2023, the total value of secured loans was estimated at GH¢5.9 billion. According to the Collateral Registry Banks accounted for GH¢9.1 billion of total secured loans in quarter 2 2024, depicting an increase of 85.7% from GH¢4.9 billion recorded in quarter 2, 2023. On the other hand, the Specialized Deposit Taking Institutions (SDIs) recorded a total secured loans of GH¢1.7 billion in quarter 2 2024.

Stakeholders in the renewable solar energy value chain want more government support to be able to upscale and help with the energy transition agenda.

Telecel Ghana Foundation, the Corporate Social Responsibility arm of Telecel Ghana and Viamo, a global leader in mobile engagement have both reaffirmed their partnership with the relaunch of the free 321 service.

Newmont Corporation, the world’s leading gold business and Ghana’s leading gold producer continues to make substantial financial contributions to the economy through its tax payments. 

Trading activities in the secondary market moderated, with total volume traded declining by 39.24% to GH¢1.3 billion. This was down from GH¢2.1 billion recorded in the previous week.