• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Yara Ghana’s Theophilus Djorbuah urges private sector relief as high taxes, depreciating cedi strain businesses

1 year ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
31
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Yara Ghana’s Theophilus Djorbuah urges private sector relief as high taxes, depreciating cedi strain businesses

Theophilus Djorbuah, Commercial Director of Yara Ghana Limited, has made a clarion call to the Government, urging the implementation of strategic measures to mitigate rising tax burdens and curb the depreciation of the cedi, aiming to alleviate the financial pressures on private enterprises.

Mr. Djorbuah emphasized the critical need for policies aimed at reducing the substantial importation of goods and services, a factor he identified as a primary contributor to the cedi’s depreciation.

He underscored the imperative for Ghana to boost its export volume to enhance the competitiveness of the cedi against major foreign currencies.

“The persistent challenges of high taxes and a depreciating cedi severely impact the private sector, particularly in terms of production and employment,” Mr. Djorbuah remarked. He warned that the continuation of these economic pressures threatens the viability of many businesses, potentially leading to closures and significant job losses.

Mr Djorbuah highlighted the downstream effects of these financial strains, noting that companies are often left with no choice but to raise their prices, which in turn, adversely affects consumers. This inflationary pressure is a direct consequence of the elevated production costs driven by high taxes and a weakened local currency.

Additionally, Mr Djorbuah spoke about against the “killer taxes” imposed on private enterprises, asserting that these excessive tax burdens force some companies to stop operations or resort to workforce reductions.

His comments were made during the launch of Yara Ghana Limited’s new product line, “YaraVita Croplift Bio,” where he responded to a farmer who had praised the company for its consistent quality but expressed concern over the high market prices of its products.

Mr. Djorbuah speaking further reiterated Yara Ghana’s commitment to providing high-quality products to Ghanaian farmers but acknowledged the difficulties posed by the current economic climate.

He urged the government to expedite measures aimed at reducing production costs and tax burdens, thereby enabling private companies to thrive and offer more competitively priced products.

In conclusion, Mr. Djorbuah’s appeal underscores a broader concern within Ghana’s private sector regarding the sustainability of current economic policies. His call for strategic governmental intervention highlights the urgent need for a balanced approach to economic management that supports both fiscal stability and business growth.

Tags: cedi depreciationdepreciating cedi strain businessesTaxesYara Ghana's Theophilus Djorbuah urges private sector relief as high taxes
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.