Category: General

The Ghana Revenue Authority (GRA) compliance and enforcement unit has arrested one shop owner and invited an iron rod company for failure to issue Value Added Tax (VAT) invoices of the Authority.

The GRA expects that all suppliers of taxable items, goods or services to issue VAT invoice as required by law while the customer is also required by law to obtain VAT invoice from business owners for goods purchased.

The shops were asked to close when the GRA performed a test-purchase on these companies to assess their compliance with issuing of VAT invoices.

The shops closed included all three branches of Ofori Mati Enterprise and K Tengkorang, all located in the Ledzokuku-Krowor Municipal District in the Greater Accra Region.

Mr John Yaw Boabeng, Head of Enforcement and Debt Management, Accra south, GRA, told the media that the shops were closed due to nonconformity of business owner to issuing the commissioner’s invoice.

He said revenue was highly leaking from both companies which was affecting government r
evenues.

‘It is as an offence not to issue VAT invoice and the law would take its own direction’.

He said people who flouted the law could be charged under sections 78 and 82 of the Revenue Administration Act, 2016 (Act 915) that focused on failure to comply with a tax law and impeding tax administration respectively.

‘Penalties would be levied on them and also tasked them to comply by installing their cash till machine for full compliance’, he added.

Mr Boabeng, said: ‘Such practices are unfair aginst other companies therefore, the GRA must ensure the required compliance is met.’

He explained that shop managers invited to the GRA Head Office would be asked to pay a fine after auditing their sales.

‘We will take all their suppliers invoices and take their own invoices for audit, and apply the appropriate sanctions’, he added.

He said statistics showee that Ghana’s revenue income was low as compared to other countries, hence we must perform our individual duties by issuing VAT invoice.

He urged the pub
lic to issue the VAT invoices and also renew their registration.

‘If companies were complying, the GRA would not lock down shops to affect businesses’, he said.
Source: Ghana News Agency

The staff of Development Bank Ghana (DBG), with support from the management of the bank, have donated GHS 200,000 towards the treatment of breast cancer patients at the Korle-Bu Teaching Hospital (KBTH) and the 37 Military Hospital.

The donation stems from an initiative of the staff of DBG to raise funds to support the treatment costs of breast cancer patients.

Available data from the World Health Organisation (WHO) reveals that in 2020 alone some 2.3 million women around the world were newly diagnosed with breast cancer with 685,000 deaths recorded the same year. As of the end of 2020, there were some 7.8 million women alive who were diagnosed with breast cancer in the past five (5) years making it the world’s most prevalent cancer.

In Ghana, over 4,000 women are diagnosed with breast cancer annually with almost half of the women diagnosed losing their lives.

Studies show that women in Ghana are diagnosed at more advanced stages of the disease – up to 70% of women have advanced-stage cancer by the time
it is identified.

Managing Director of the Development Bank Ghana (DBG), Kwamina Duker, speaking about the initiative of the staff of DBG said, ‘We are passionate about breast cancer and as such are enthused about helping breast cancer patients, because we all know the difficulty the patients themselves, their families and loved ones go through.’

‘This initiative was mainly developed by the staff of DBG along with the funds raised, and this demonstrates the passion the staff have for breast cancer treatment.

‘At DBG we believe in staying with our partners and so with that, we are committing to continue this initiative for the next five (5) years, so there is continuity and this doesn’t become a one-time thing.’

Head of Corporate Social Responsibility (CSR) at DBG, Barbara Wrickets, hinted at a possible annual increment in the donation amount.

The donation by the DBG staff is expected to be used for breast cancer treatment processes such as chemotherapy, radiology, among others.

Accepting the donation on
behalf of the Korle-Bu Teaching Hospital (KBTH), the Head of the Department of Surgery, Professor J.E. Mensah, expressed the hospital’s gratitude for the kind gesture made by the staff of DBG.

‘We bend backward and do our best to help solve the problems of our patients, most of them are poor and can’t afford treatment, and that’s why institutions like the DBG need to help them. The hospital is grateful for the donation, but more so extremely happy that the DBG has come on board and decided to support our breast cancer patients,’ he noted.

Development Bank Ghana is a wholesale financial institution established by the Government of Ghana.

DBG acts as a provider of long-term capital to the market with a mission to foster strong partnerships to finance economic growth, create jobs, and build capacity for SMEs.

The organisation is committed, aligned, and strengthened to achieve UN Sustainable Goals (SDGs) ambitions and targets while implementing environmental, social, and governance (ESG) strategies aimed at c
reating shared value and impact with purpose.
Source: Ghana News Agency

Some business owners at Keta in the Keta Municipality of the Volta region have expressed optimism about recording good sales during this year’s Christmas and New Year festivities.

This, according to them, would help improve their various businesses for a better living.

Mr Ketormenya Major Klenam, a boutique shop owner at Vui, a suburb of Keta, in an interaction with the Ghana News Agency (GNA), said business over the years had been bad due to the economic hardships experienced by many.

‘Buying and selling has declined drastically within the year, our goods are still in stock, and our capitals are locked too,’ he stated.

He expressed the hope that the trend would change in the upcoming season to mitigate their losses.

Mr Noble Agbenu, a fashion designer, also told the GNA that sewing has not been improving since November last year but hoped the yuletide would be full of improvements.

Madam Akos Agbenyo, a hairdresser, on her part, told the GNA that customers always complained about economic hardship.

‘
The Brazilian hair and many beautiful stylish hairs have here since last year without being bought,’ she lamented.

Some business sectors, including the hospitality industry, have also complained about low patronage within the year but expressed the hope that the season would improve.

Some residents the GNA interacted with, however, anticipated a better financial breakthrough for a successful season.
Source: Ghana News Agency

A 31-year-old driver has been sentenced to three years in prison for stealing a pump action shotgun and other heavy industrial machines worth GHC87,000.

Abu Mohammed was found guilty by an Accra Circuit Court on the charges of stealing.

Mohammed, who is also a housekeeper, pleaded not guilty before the court presided over by Mr Isaac Addo.

However, at the end of the trial he was found guilty and sentenced by the court.

‘A Toyota Yaris vehicle bought by the accused person through the proceeds of crime was to be released to the complainant Samuel Sintim -Yabbey,’ the court said.

The prosecution led by Chief Inspector Jonas Laweh said the complainant is a Ghanaian working in the United Kingdom, and Mohammed lived in Baatsona.

According to Chief Inspector Laweh, in 2019, Sintim-Yabbey sent his parents abroad for medical treatment and entrusted his house to Mohammed.

However, in early 2021, Sintim-Yabbey and the parents ordered Mohammed to vacate their home after receiving information about theft involving
their belongings.

The prosecutor said Sintim-Yabbey and his mother returned to Ghana in November 2022 and discovered that his late father’s pump action shotgun with registration number ASHP/7674/02, valued at GHC15,000, had been stolen.

The prosecution further stated that welding, washing, drilling, and grinding machinery, among other items worth GHc87,000, had been stolen.

When Mohammed was arrested, he told the Police that he had sold the machines to scrap dealers and denied knowledge of the pump action shotgun.

During investigations, the prosecutor said a Toyota Yaris with registration number GN6282-22 registered in Mohammed’s name and suspected of having been acquired through the crime was retrieved.

The prosecution said investigations showed that the vehicle was registered on August 23, 2022, and ownership of the vehicle was transferred to Regina Atiah on the same day.

It said Mohammed however failed to lead the Police to the said Regina Atiah.

The prosecution said the vehicle was impounded by the
Police.
Source: Ghana News Agency

Access Bank Ghana has organised a special investment forum dubbed the Dubaiscapes Accra to empower individuals with wealth-creating skills and opportunities in the real estate industry in Dubai.

A statement issued by Access Bank Ghana, copied to the Ghana News Agency said the event was organised as part of its wealth management proposition for private banking customers to add value to their assets, while securing their legacy,

It said the event, held in Accra at the plush private banking lounge at the Iris branch, saw High Net Worth Individuals (HNWI) of the Bank meeting with investors and real estate operators under the Dubaiscapes franchise.

Madam Matilda Asante-Aseidu, Group Head, Retail Banking at Access Bank, speaking on the importance of the initiative, noted that the interaction was a timely proposition to respond to the current economic challenges faced across the globe, especially in Ghana.

‘As a bank, we provide our customers with a variety of wealth management products to hedge themselves agai
nst the rising economic challenges being faced across the world.

‘Investing in real estate is a sure way to build one’s wealth, because of its ability to consistently grow in value. Partnering with Artiana Properties, we provide our customers with the wealth of experience and knowledge to own property in Dubai leading to more secured investment,’ she shared.

Mr Lavesh Jagasia, Founder of Artiana, shared his excitement for the opportunity provided by Access Bank to help share their expertise in managing and growing the portfolio of the Bank’s prominent customers.

‘We are excited to be granted this opportunity to help individuals here diversify their asset portfolios and build up wealth to shield them against the current economic climate.

‘We do this through long-term relationships with customers, providing them with portfolio advisory and guiding them on current market trends, giving them advice and assisting them in acquiring and generating wealth on their portfolio.

‘Through the Artiana Group, which hou
ses both the Artiana Auction House and Artiana Properties, we are able to provide individuals with the best investment choices for both art and properties.’

Professor Elikem Nutifafa Kuenyehia, Non-Executive Director at Access Bank Ghana reiterated that partnering with Atiana on one’s wealth creation journey is the best choice because they provide bespoke solutions tailored to every individual’s objective and wealth creation goals.

With a variety of flexible and innovative banking options, Access Bank continuously engages customers, to understand their varied needs and help to proffer solutions to them.

The Bank presently operates through over 700 branches and service outlets in 20 countries, including the United Arab Emirates (UAE), UK, and France, and three representative offices in China, India, Lebanon, and Hong Kong.
Source: Ghana News Agency

The GCB Bank PLC has launched a new mobile application to provide customers with enhanced banking and non-banking services and to promote financial inclusion in the country.

The ‘Recoded’ application, which includes encryption and multifactor authentication security features such as password, fingerprint, facial recognition, pin, and security questions, will supplement the bank’s traditional ‘brick and mortar’ and online service delivery.

Among others, the application enables users to open instant bank accounts, deposit and transfer money, access loans, and pay electricity, water, and DSTV bills, school fees, and request for check book, bank letter, and statements for travel visas.

Speaking at the launch in Accra on Wednesday, Mr John Kofi Adomakoh, Managing Director, GCB Bank, said the bank’s move is ‘to put banking in the palms of customers.’

That, he said, the bank would achieve by offering customers unlimited access to banking services through a secure mobile app from any location.

‘This app serves
as a commitment to our customers and would be customers to know that GCB, despite having the largest branch network, recognises the limitations in that network when it comes to how technology is going to be.

‘So, where the branch can’t go, technology can, and through this app, we’re going to combine our physical branch network and technology to leave our customers with pleasurable experience,’ he noted.

Mr Adomakoh pledged the bank’s commitment to being at the forefront of Ghana’s economic digitisation in the financial sector, by providing customers with more digital platforms, products, and business services that are both convenient and secure.

He explained that the app was created in response to consumer feedback and research into what customers want as well as where the bank wants to go.

Mr Daniel Tweneboah Asirifi, Interim Board Chairman of GCB Bank PLC, underscored the new app’s relevance to enhancing customer experience by bringing financial services closer to them.

He stated that the bank was embr
acing the future and positioning itself as the country’s digital banking leader by delivering innovative solutions to customers, and in turn, bring strong returns for shareholders.

‘Our goal is to make an enduring positive impact in the lives of our customers by providing them bespoke solutions and make banking simple, accessible and convenient,’ the Interim Board Chairman of GCB Bank said.

‘This app launch is a testament of our continuous evolving nature, staying relevant with the times, and providing services that meet the needs of our esteemed customers,’ he noted.

Mr Asirifi assuaged clients’ concerns about using the app considering rising cyber threats by stating that the bank has invested heavily in a world-class security centre that detects and proactively resolves such threats.

Dr Ernest Addison, Governor, Bank of Ghana (BoG), commended GCB Bank for prioritising digital services to customers with the launch of the app, which he described as ‘customer centred.’

He stated that because mobile bankin
g had become the preferred method for financial transactions, it was critical for financial institutions to adopt new digital advances in their operations in a secure manner.

Dr. Addison said the Central Bank had enhanced cyber security infrastructure, as well as education and the use of advanced machine learning to combat cybercrime.

He assured the public of the BoG’s commitment to ensuring the necessary regulatory framework for financial institutions, particularly banks, to provide the best services to clients while also contributing to economic development.
Source: Ghana News Agency

A week-long consultative stakeholders engagement workshop to identify notable value chains that have the potential to create employment opportunities and help prevent the insurgence of violent extremism in the sub-region has begun in Tamale.

It is to solicit relevant stakeholders’ input on some key sectors in the agricultural value chain, which when maximised, could generate income and enhance the livelihoods of communities for sustainable development and peaceful coexistence.

It is organised by the United Nations Development Programme (UNDP) in partnership with the Governments of Denmark and Germany, and participants, who included representatives of Departments of Agriculture, Business Advisory Centres, Village Savings and Loans Associations, aggregators, women in the shea industry, and community members, were drawn from the Northern, Upper East, Upper West, North East and the Savannah Regions.

It formed part of the UNDP’s Preventing and Responding to Violent Extremism in the Atlantic Corridor project be
ing implemented in four countries, including Ghana, Ivory Coast, Togo and Benin.

Madam Melody Azinim, Peace and Governance Analyst at UNDP, speaking during the workshop, said it was to explore the value chains and how to commercialise the sector into sustainable businesses.

Madam Azinim said, ‘We gathered here to identify the advantages, gaps, opportunities and challenges in the value chain, and to arrive at the conclusion, which will help address communities’ vulnerabilities to violent extremism.’

She said the project was geared towards responding to the vulnerabilities of the communities in the sub-region, especially in the Sahel by providing sustainable employment opportunities to help prevent the activities of violent extremists within the area.

She appealed to the various stakeholders in the country to be vigilant and proactive to safeguard the borders from extremist attacks.

Alhaji Shani Alhassan Saibu, Northern Regional Minister, whose speech was read on his behalf, said government, in collaborati
on with other partners, had been proactive in ensuring human security whilst enhancing local capacities to address their vulnerabilities.

He mentioned the country’s Coordinated Programme for Economic and Social Policies (2017-2024), saying it sought to modernise and transform agriculture, promote industrial diversification and accelerate youth employment.

He commended UNDP and partners for organising the workshop, saying it would help create sustainable development for the youth, especially women and girls.

Dr Prince Oppong Kwarteng, a Consultant with the UNDP, led participants to explore some of the value chains in the regions, which had the potential to create employment and improve the livelihoods of the communities.

Some of the areas prioritised by participants included poultry production and animal husbandry, shea, yam, cashew cassava, maize, soybeans, dawadawa cultivation, honey production, amongst others.

Hajia Alima Sagito-Saeed, Executive Director, Savannah Women Integrated Development Agency, l
auded the intervention and said it would enhance the resilience of women in the agricultural sector as well as minimise gender-based violence.

Mr Sulemana Mahama, Head, Department of Agriculture, North Gonja District, Savannah Region, said the agricultural sector was favourable for tackling unemployment and called on other stakeholders to support the project to help provide employment and prevent violent extremism in the sub-region.
Source: Ghana News Agency

The REDD+ Secretariat, in collaboration with its private sector partners, has supported three community members to attend the 28th session of the Conference of Parties (COP28) of the United Nations Framework Convention on Climate Change (UNFCCC).

The conference was held in Dubai, United Arab Emirates (UAE) from 30th November to 12th December 2023.

The Ghana Cocoa Forest REDD+ Programme (GCFRP), which was the first among other programmes to be launched under Ghana’s REDD+ (Reducing Emissions from Deforestation and Forest Degradation) Strategy has been in implementation since 2019 to reduce deforestation and forest degradation from Ghana’s cocoa landscapes.

The Programme run by the REDD+ Secretariat seeks to incentivize local communities to participate in efforts to reduce deforestation, protect biodiversity, and contribute to sustainable development.

The three members, who were selected from the Ghana Cocoa Forest REDD+ Program Area, are Mr. Daniel Amponsah Gyinayeh, Chairman of the Asunafo-Asutifi Hotspo
t Intervention Area Board, Mr. Augustine Darbo, Chairman of the Ahafo-Ano Hotspot Intervention Area Board and Madam Grace Asare, Kakum Hotspot Intervention Area Member, all cocoa farmers.

The three alongside indigenous people and local communities’ representatives from Ecuador and Kenya participated in a side event organized by the Forestry Commission on, ‘strengthening inclusion in REDD+ results-based payments.’

The event was hinged on the fact that REDD + implementation would not be possible without the full inclusion of local communities and marginalized groups, especially women and the youth.

In his opening remarks at the event, the Chief Executive of the Forestry Commission, Mr. John Allotey mentioned that to achieve the Paris Agreement goal of limiting temperature increase to 1.5 degrees Celsius, ‘It is very important that forest-fringe communities are encouraged to prevent further deforestation and degradation, whilst they adopt sustainable land use practices.’

To this end, he said, the Community R
esource Management Area (CREMA), a community-driven mechanism was endorsed by the government and adopted as one of the ways to natural resource management.

He noted that women’s inclusivity is very high in the implementation of the REDD+ mechanism as 40 per cent of women had been engaged in all landscape programmes.

He cited the Ghana Shea Landscape Emission Reductions Project, another programme in Ghana’s REDD+ Strategy, which has employed about 95 per cent of women in nursery establishments and greatly improved their living conditions as well as delivered a sense of inclusion and belonging.

Mr Daniel Amponsah Gyinayeh made a presentation on ‘The Fund Flow Mechanism and Inclusion of Local Communities’ which is an integral part of a highly consultative, fair and transparent Benefit Sharing Plan.

Among other things, he touched on beneficiary performance indicators, as well as benefits the communities and farmer groups have received under the GCFRP. That, he said, had motivated local communities and farme
rs to take up tree planting and nurturing seriously because their efforts were being rewarded.

He stated that the GCFRP, which generated results-based payments of which 69%, had been given to cocoa farmers led to the adoption of climate-smart cocoa farming practices, including planting and management of shade trees on farmlands.

Farmers are, therefore, steadily avoiding encroachment into forested areas for farming activities and illegalities, whilst at the same time, nurturing and tending trees.

Under the GCFRP benefit sharing, farmers have received inputs like knapsack sprayers, wellington boots, machetes, mist blowers, pruners, and tree seedlings, among others to help in their farming activities.

During the moderated community panel discussions, Madam Grace Asare narrated the impressions of excitement on the faces of the farmers when they received these farm inputs under the GCFRP in Kakum HIA.

She said it was a novelty to receive benefits under a results-based programme, a scenario they never believed
could happen until the benefits came in.

‘Buying farm inputs like machetes and sprayers is difficult for most poor farmers and the GCFRP inputs from the REDD+ has liberated such farmers to work hard and also adopt climate-smart practices for their farms.’

She was also full of praise for the additional/alternative livelihood support that had provided benefits to cushion farmers to get extra income, especially during the lean cocoa production season.

Participants from Ecuador and Kenya also applauded Ghana for the inclusion of local communities in the REDD+ programme and indicated that it was a good example for other countries to follow, as governments did not involve indigenous people and local communities.

However, these indigenous people and local communities want to be part of the design and implementation of REDD+ programmes and not just be mere beneficiaries.

Mr Benito Owusu-Bio, the Deputy Minister for Lands and Natural Resources, said, ‘The potential of the country to produce high integrity emissio
ns whilst enhancing the adaptation of forest fringe communities is the basic drive for us to do and seek more.’

He said Ghana had been granted USD4 Million to maximise capacity building of local communities and other disadvantaged groups, particularly women and the youth to ensure their inclusion in results-based climate finance programmes such as the GCFRP with assistance from civil society organisations under the Enhancing Access to Benefits by Lowering Emissions (EnABLE) grant provided by the World Bank.

The Deputy Minister emphasised the importance of communities to the REDD+ process by referring to forest-fringed communities as the linchpin of success in the programme.

He, therefore, called for increased climate finance to support sustainable projects, drive innovation and fortify vulnerable communities.

The three community members described their participation in COP 28 as an eye-opener and a big learning platform for them.

They used that opportunity to call on farmers, forest fringe communities an
d the youth to embrace the REDD+ Mechanism and other tree planting programmes in their area as it comes with many benefits to individuals and communities.

They added their voices to call for more climate financing to help push the climate mitigation agenda forward.
Source: Ghana News Agency