Bussiness
‘Big men’ in Ghana weren’t paying tolls – Kofi Kapito
Chief Executive Officer (CEO) of the Consumer Protection Agency (CPA), Mr Kofi Kapito has revealed that ‘big men’ were not paying road tolls.
He said the state lost money through the failure of these personalities to pay tolls.
“Big men don’t pay tolls in Ghana so why wont they lose money,” he said on the New Day show on TV3 Friday May 12.
He wondered why the roads were bad although the tolls were being collected.
“how can you construct toll booth and the road near the booth is nonsense? He asked.
Also contributing on the same show, a private legal practitioner Mr Kwame Jantuah asked the government to account for the road tolls that were collected prior to suspending the collection.
He said the tolls were meant to refurbish the roads. However, these roads have not been in the best of shape.
This, he said, raises questions about what the tolls were used for.
“ideally, tolls are supposed to be used to maintain the roads but the state of the motorway has been the same,” he said.
“The road tolls that were collected, what have they been used for ?” He questioned.
Road toll collections were suspended after the Finance Minister Ken Ofori Atta announced in the budget statement an end to the collection of the tolls.
During the presentation of the 2022 budget statement to Parliament on Wednesday November 17, he said this takes effect immediately the Budget is approved.
“A comprehensive review will be conducted after every fifth-year taking into consideration, other factors besides inflation including, improvement in quality of service delivery and privatisation of some of the services, where feasible. Mr. Speaker, our roads need fixing. Our roads are being fixed. It is true that more roads have been fixed and are being fixed over the last five years than any relative period in the entire history of our nation. We even want to do a lot more and this budget will cater for this.
“That is why for decades, Government after Government imposed and maintained tolls on some public roads to raise funds for road construction and maintenance. This is the situation in many countries. However, over the years, the tolling points have become unhealthy market centres, led to heavy traffic on our roads, lengthened travel time from one place to another, and impacted negatively on productivity.
“The congestion generated at the tolling points, besides creating these inconveniences, also leads to pollution in and around those vicinities. To address these challenges, Government has abolished all tolls on public roads and bridges. This takes effect immediately the Budget is approved (after appropriation or now?). The toll collection personnel will be reassigned. The expected impact on productivity and reduced environmental pollution will more than off-set the revenue forgone by removing the tolls.”
Source: 3news.com
Bussiness
Charterhouse announces the Business Elevate Series with launch of ‘The Gastro Feastival’
Charterhouse, Ghana’s leading event management and audiovisual production company, is marking its 25th anniversary of delivering top-tier events with the introduction of an exciting new initiative: The Business Elevate Series.
This innovative series is designed to shine a spotlight on key economic sectors through a series of dynamic B2B and B2C events, including industry conferences, seminars, and exhibitions.
Kicking off the series is The Gastro Feastival, a groundbreaking annual food industry festival that will showcase Ghana’s rich and diverse food ecosystem and agribusinesses from production to consumption.
The launch event will take place on Friday, March 7, 2025, from 4:00 PM to 6:00 PM at the Grand Arena (Accra International Conference Centre).
This landmark event will bring together food industry stakeholders, enthusiasts, experts, and organizations to highlight the food industry’s critical role in Ghana’s socio-economic development and culture.
It will also promote food security, digital innovation, women’s empowerment, youth employment in agribusiness, and sustainable practices.
The Business Elevate Series is a game-changing initiative designed to foster growth and transformation across multiple sectors. With Charterhouse’s deep expertise in organizing impactful meetings, the series aims to unlock investment opportunities, drive innovation, and catalyze social and economic change.
The Gastro Feastival will address six major pillars that drive industry transformation: Investment Opportunities; Job Creation; Innovation, Technology, and Digitization; Youth Involvement (entrepreneurship and career opportunities); Women’s Involvement; Environmental and Social Governance (ESG); Export Opportunities
The event will also establish a Resource Bank, spotlighting key growth opportunities and ensuring the effective allocation of resources to transform Ghana’s food industry.
The Gastro Feastival is a Charterhouse initiative, with Kosmos Innovation Centre as the technical partner.
Bussiness
Ghana’s GDP shows economy is fast recovering despite DDEP – Finance Ministry
Ghana’s Gross Domestic Product (GDP) indicates a rapid economic recovery despite global challenges and ongoing debt restructuring, according to the Ministry of Finance (MoF).
The Ministry in a statement today indicated that latest data from the Ghana Statistical Service (GSS), cumulative economic growth for the second quarter (Q2) of 2024 reached 6.9%, a notable increase from the 4.7% recorded in the first quarter of 2024.
The MoF statement further noted that, “The economy’s robust recovery is in response to the macroeconomic stability and growth interventions that government is pursuing under our IMF-supported Post Covid-19 Programme for Economic Growth (PC-PEG).”
According to them, the overall real GDP growth for the first half of 2024 rebounded strongly, with year-on-year GDP growth averaging 5.8% for the period, significantly higher than the 2.9% recorded in the same period in 2023.
By Edem Mensah-Tsotorme
Read full statement below
