UCC, TOUGHA sign MoU to bridge existing gap between academia and industry The University of Cape Coast (UCC) and the Tour Operators’ Union of Ghana (TOUGHA) on May 17, signed...Read more
E-levy Bill: MPs trade blows in parliamentIt was chaos again in Parliament on Monday night – similar to what was witnessed at the beginning of the year when Parliament was voting for a new Speaker – during voting on the controversial E-levy bill.
During the voting process – on whether the E-levy bill should be taken under a certificate of urgency in the plenary or not – the minority got incensed over attempts by the presiding Speaker, Joe Osei-Owusu who is also the MP for Bekwai Constituency in the Ashanti Region to leave the chair to cast his vote.
Barely a week ago the Speaker of Parliament Rt. Hon. Alban Sumana Kingsford Bagbin on his return from his medical leave abroad had said according to the standing orders of the house, a person who is a member of parliament who sits as the speaker forfeits his rights to cast a vote on any matter before the house during the proceedings.
This the minority had earlier during the debate on the matter raised issues with and contended that per parliament’s standing orders, the Speaker of Parliament does not have a casting vote, giving an indication that they were not going to allow for that to happen the second time, however, Joe Osei Owusu indicated that, he would still vote.
The single act of the sit-in Speaker Joe Osei Owusu who is the First Deputy Speaker of Parliament led to parliamentarians’ exchange blows among themselves while some officials of parliamentary services try to protect the Speaker’s seat and the mace of parliament from being attacked.
The Minority Leader, Haruna Iddrisu, before the chaos, had described the controversial e-levy bill as ‘technically incompetent’ insisting that his side will fiercely resist it.
Full Interview: One-On-One with Mr. Ken Thompson CEO of Dalex FinanceMr. Ken Thompson CEO of Dalex Finance takes his turn on norvanreports and speaks to Norvan Acquah - Hayford on a range of issues.
Producing graduates with employable skillsProducing graduates with employable skills is only possible when academia engages employers.
This is the argument put forward by the Chief Executive of Dalex Finance, Mr. Ken Thompson.
According to the maverick Mr. Thompson, formal engagements between the private sector or employers with academia is very necessary to ensure graduates are employed as they graduate and complete their national services to the country.
Government must not compete with the private sector in borrowing - CEO DalexIf the Courts in Ghana can sit 24/7 and dispatch cases of default in a matter of a month and swiftly, then the private sector (Finance Houses or Banks), we can lend to the small-medium enterprises.
Again all that the government needs to do in this case is to create the right environment with the infrastructure to give the private sector the confidence and not compete with them by borrowing. If this can happen businesses can create the needed jobs the government anticipates.
We Must Pay the E-Levy - Ken ThompsonThe CEO of Dalex Finance, Mr. Ken Thompson has said he sees nothing wrong with Ghanaians paying the controversial E-Levy. According to him, the indirect tax is to serve as a stop-gap measure to pay for the country's huge debt in his opinion.
Mr. Thompson who has for over 5 years trumpeted the fact that Ghana is broke, pointed out that even though calls to widening the tax net, are good calls, the introduction of the levy will not affect really momo and online transactions.
He said, "it is not going to be easy to get my plumber or the mason to start paying tax now, even though we have issued Ghana cards. It will be a gradual process."
AfCFTA to increase intra-Africa trade by $35 billion yearly – President Akufo-AddoPresident Akufo-Addo has assigned reasons to why Ghana, along with its 53 African counterparts that have ratified the African Continental Free Trade Area (AfCFTA) agreement, must ensure the success of the trade pact which will make Africa the single biggest trading bloc in the world.
Speaking at the official launch of the ‘Business Forum on the Start of AfCFTA Trading in Ghana’ on January 5, President Akufo-Addo noted the foremost reason why the AfCFTA must be made to succeed is its potential of increasing intra-Africa trade by some $35 billion every year.
“There are good reasons why the AfCFTA must succeed, first is the estimation that the single market will increase intra-Africa trade by as much as $35 billion per year by harnessing the purchasing power of 1.2 billion Africans,” he said.
Read full story here - https://www.norvanreports.com/afcfta-to-increase-intra-africa-trade-by-35-billion-yearly-president-akufo-addo/
Ghana now Africa’s commercial capital because of AfCFTA – Alan KyeremantenGhana’s Minister for Trade and Industry, Alan Kyeremanten, has said the hosting of the Secretariat of the African Continental Free Trade Agreement (AfCFTA) and subsequent commencement of the trade pact has by default made Ghana, the commercial capital and trade hub of the African Continent.
“As a country hosting the Secretariat of the AfCFTA, it by default makes us the new commercial capital for the continent,” he noted, adding this is going to attract large foreign investments into Ghana from investors around the globe.
“I can tell you that it is probably the most powerful stimulus for attracting investments into our country because if investors from around the globe now appreciate the fact that situating a production facility in Ghana not only sells in Ghana, but also to the entire continent is a big deal,” he stated.
According to the Trade Minister, AfCFTA first of all presents to Ghanaian manufacturers the potential to go beyond the local market to serve a larger market by exporting to other African countries.
“Once we have a single market, you enhance the economies of scale, meaning that Ghanaian manufacturers now have the potential to export to a larger market, that is beyond the local market,” he noted.
“Second it enables us to add value to our natural resources because that’s what industrialization is all about. And we can take advantage of regional value chains by collaborating with our partners in Nigeria, Togo, etc and consolidating our efforts on how to take advantage of the market in other parts of Africa,” he added.
Ghana must be ready to host Africans as AfCFTA starts – AUC Deputy ChairDeputy Chairperson of the African Union Commission (AUC), H.E. Thomas Quartey, has urged Ghana to be ready to host fellow Africans from the various part of the continent as the African Continental Free Trade Agreement (AfCFTA) begins.
Speaking on New Year’s Day which officially marked the start of the implementation of the trade agreement, H.E. Thomas Quartey noted Ghana would become the “centre of gravity of all commercial and economic activity” on the continent and as such needs to be ready to host all kinds of businesses.
Adding that, Ghana ought to further deepen its already stable political atmosphere and make its legal system more flexible for the businesses coming into the country on the back of the AfCFTA.
“The trade pact proposes to make Ghana the centre of gravity of all commercial and economic activity, and so Ghana needs to be ready to host all kinds of businesses. Ghana has to deepen its political stability and the legal systems must be more flexible,” he said.
Success of AfCFTA ties in perfectly with ‘Ghana Beyond Aid’ vision – President Akufo-AddoPresident Akufo-Addo has averred that the success of the African Continental Free Trade Agreement (AfCFTA) will be congruent with government’s vision of a Ghana Beyond Aid.
Speaking on the commencement of the trade pact on New Year’s Day – January 1, 2021 – President Akufo-Addo asserted his vision of a ‘Ghana Beyond Aid’ will be better realized if the country takes advantage of the trade and investment opportunities AfCFTA presents.
Read full story on the link provided here: https://www.norvanreports.com/success-of-afcfta-ties-in-perfectly-with-ghana-beyond-aid-vision-president-akufo-addo/
Acting Commissioner General of the GRA, Ammishaddai Owusu-Amoah speaks on ICUMSThe Ghana Revenue Authority has said the state has lost no revenue since the introduction of the Integrated Customs Management System (ICUMS), but rather, the authority has had its revenue projections on target even with the teething problems that greeted the start of the system on June 1, 2020.
According to the Commissioner General of the GRA, Ammishaddai Owusu-Amoah, the first 17 days of operations raked some GH¢490 million and the Authority is projecting a billion Ghana cedis revenue by the end of the month.