News
Parliament waves tax for 4 companies under 1D1F
Parliament yesterday approved request by the government for tax waivers to four companies under the One District One Factory initiative.
The package included import duties, import Value Added Tax, Ghana Education Trust Fund (GETFund) levy, Import National Health Insurance Levy and Export and Import (EXIM) levy.
The companies are Camelot Ghana Limited (US$347,174), Favour 01 Limited (US$131,988), Gee’s Fresh Point Limited (GHC48, 369) and LK International Company Ghana Limited (US$2,284,831).
Areas of the economy where the companies are expected to operate include production of non-alcoholic beverages, tricycle assembling, security printing and processing and packaging of birds.
The request for waiver laid in the House on May 26, 2020, was in accordance with Article 174(2) of the Constitution.
Presenting the Finance Committee’s report on the waiver, Chairman, Dr Mark Assibey-Yeboah said the move was in line with government’s efforts to industrilise the country.
The report, a copy of which the Ghanaian Times has said in part that “considering the benefits to be derived from the projects, the Committee is of the view that the requests will go a long way to boost government’s flagship 1D1F programme.”
According to the report, some of the benefits of the projects would include increased employment, reduction in post harvest losses of fruits by providing alternative market, increased export earnings and increased fruit production in the country.
The report said Camelot Ghana Limited’s main business was the printing of security documents and continuous forms.
“The company offers the printing of cheque books, bankers’ drafts, share certificates, dividend warrants and certificates, lottery tickets of various types and continuous and cut sheet stationery, preprints for laser printers, electoral ballot papers-standard and special size and many more,” it said.
Located in Tamale, LK International Company Limited assembles tricycles and other related products for distribution on the local market and countries in the ECOWAS sub region such as Burkina Faso, Togo, Cote d’Ivoire, Benin and Mali.
Favour 01 Limited, the report said is a limited liability company under the Companies Code of Ghana, 1963 (Act 179) and is located at Ayikuma in the Shai Osudoku District in the Greater Accra Region.
Gee’s Fresh Point Limited, the Committee reported is a gender sensitive organisation working with NGOs like WUSC, FARM RADIO, and GIZ towards empowering women through capacity building programmes and creating ready markets for women poultry farmers.
A member of the Committee, Benjamin Kpodo, urged that government to track the intended mission of the firms to ensure that they lived up to the billing.
BY JULIUS YAO PETETSI
News
VRA Senior Staff picket against proposed merger with Bui Power Authority
Senior staff of the Volta River Authority (VRA), along with members of the Public Services Workers Union (PSWU) of the Trades Union Congress (TUC), staged a protest at the VRA headquarters in Accra on Wednesday, September 18, 2024.
The protest was in opposition to a proposed merger between the VRA and the Bui Power Authority, which the group believes would undermine the operations of the VRA.
The draft bill currently in Parliament also seeks to consolidate the Electricity Company of Ghana (ECG) with the Northern Electricity Distribution Company (NEDCo) and create an independent Thermal Power Authority from VRA’s thermal plants.
Speaking to Citi News during the protest, Theophilus Tetteh Ahia, Chairman of the VRA Senior Staff Association, called for the immediate withdrawal of the merger bill, citing concerns about the future viability of the VRA under the proposed changes.
“Our demand is just for the bill to be withdrawn for a peaceful existence. Because VRA has been established for all these years…The bill that has been laid in parliament should be withdrawn and that is all we are looking for,” he stated.
He continued: “We will continue praying seeking the face of God and we will do everything possible to resist it.”
Source: Citinewsroom.com
News
Africa Remittance Conference UK scheduled for September 21
The much anticipated Africa Remittance Conference UK 2024 dubbed “Market of Remittance” will be hosted in London, the capital of the United Kingdom on Saturday September 21, 2024.
It is scheduled to take place at the Canary Riverside Plaza Hotel (E14 8RS) in East London from 12noon to 6pm.
The event is being organized by Akwaaba UK in collaboration with Emergent, OmniBSIC BankGhana Limitedand Unity Link, under the theme“Leveraging Fintech and Banking Partnership for Growth”.
According to the organizers, Akwaaba UK, Africa Remittance Conference UK 2024, is a premium networking brand and the largest gathering of leading players, key and relevant stakeholders in the Remittance industries in the United Kingdom, across Europe and Africa.
Speaking on the rationale behind the event, the Chief Executive Officer of Akwaaba UK, Mr. Dennis Tawiah, indicated that the annual event is the first of its kind and a platform created for all recognized players in the Remittance Industry in the United Kingdom, Europe and Africa.
“We are excited to be hosting the Africa Remittance Conference UK 2024 after years of working with key players within the sector within the UK, Europe and across the African continent,” he said.
According to him, “We have identified the need to enhance growth and development in the sector. Remittance contributes to ending poverty and hunger, promoting good health, quality education, clean water and sanitation, decent work and economic growth, and reducing inequalities.”
On his part, the International Relations and PR Manager for Akwaaba UK, Chris Koney, highlighted the importance of the Africa Remittance Conference UK 2024and the need for corporate entities to be interested in the conference.
“Strategic partnerships and progress on remittances go hand in hand. Participants at the Africa Remittance Conference UK 2024 will acquire valuable insights, new trends and get to know opportunities in the sector. In addition, the event provides an avenue to explore ways of developing the industry, practitioners and other professionals within the value chain,” he further stated.
In addition to the list of distinguished resource persons and speakers, there will also be Networking and Business-to-Business sessions, Deal Room for Negotiations, Investor Pitching sessions and Exhibition of Innovative Financial and Fintech products and services
