Ghana Food Importers Call For Equal Taxation

Ghana Food Importers Call For Equal Taxation

BUSINESS Unknown   October 19, 2017

The Frozen Food Importers Association of Ghana wants government to grant its members preferential values for duty or taxes charged on imported products at the ports.

According to them, government has subsidized taxes on imported products for one company, thereby creating unfair competition in the frozen foods industry.

The industry will be hit by massive layoffs and fold-ups if this is not checked.

Its members, who double as owners of companies, are unable to pay workers.

In a letter addressed to the Ghana Revenue Authority (GRA), the association argued that the situation has created wide disparity in the value regime and undermined competition in the industry.

Vice President of the Frozen Food Importers Association of Ghana, Charles K. Ansah, said government must endeavor to ensure all players pay equal duties at the ports to prevent further collapse of the affected companies.

“The industry is confronted with 35 percent tax so the tax issues are very disturbing to begin with. It must be on record that if you look at it, it is not realistic. So that is actually what is crippling most of us in the industry and the fact that it is giving another person the leverage makes the story totally different altogether. For poultry product it is 35 plus 17.5%.”

“So our position now has been made loud and clear; let us all pay same duty across board until we come out with realistic duty for all the players in the industry.”

Trending: Airtel, Tigo Workers Anxious

Trending: Airtel, Tigo Workers Anxious

BUSINESS Unknown   October 19, 2017

Some workers of Airtel and Tigo are voluntarily leaving the merged entity after the regulator; the National Communications Authority (NCA) approved the merger, Citi Business News has gathered.

On October 13, 2017, the Managing Director of Tigo, Roshi Motman, was named as the new CEO of the merged entity, following the resignation of the MD of Airtel Lucy Quist.

Even though the merged entity is yet to come out with a new directive on the number of workers that will be retained, some have begun making moves to exit the entity.

According to them, the new entity has created a situation that may require one person occupying some top management positions even though the two companies already have people in those positions.

For example, it was known that the merged entity will have one Managing Director, hence the exit of the Managing Director of Airtel, Madam Lucy Quist.

The situation is expected to run through the top management positions of the new entity.

Labour Expert, Mr. Austin Gamey believes the need to cut down on the workforce may be due to new strategies.

All over the world, mergers and takeovers among business entities have brought some level of restructuring that have left some workers losing their jobs.

On August 3rd 2008, global telecom company Vodafone acquired 70 percent stake in Ghana telecom.

The move resulted in a massive restructuring that left some workers being laid off.

Dr. Ben Asante : Ghana Gas Debunks Allegations

Dr. Ben Asante : Ghana Gas Debunks Allegations

BUSINESS Unknown   October 19, 2017

From: Dr Ben Asante

Dr Ben Asante, Chief Executive Officer (CEO) of Ghana National Gas Company (GNGC), has described as false allegations made by the Association of Liquefied Petroleum Gas (LPG) Truck Drivers that LPG produced from the Atuabo Gas Processing Plant was substandard and could easily cause explosions.

Easy Ways To Get Loan From Nigerian Banks

Easy Ways To Get Loan From Nigerian Banks

BUSINESS Unknown   October 17, 2017

We’ve all come to a point in our life when we need to do something big, take a bold step of faith towards fulfilling our dreams or find ourselves in tough situations. Almost everything we need is already in order, except the most important thing – Money. You could be trying to build a new house, buy a piece of land, organise a wedding, bail a loved one out of jail, etc. but your pocket just can’t meet the demands.
Getting loans from people can be tedious and embarrassing, so why don’t you go to your personal bank?

10 Richest Men In Nigeria And There Source Of Wealth

10 Richest Men In Nigeria And There Source Of Wealth

BUSINESS Unknown   October 15, 2017

The World renowned ranking organization, Forbes, has released its list of richest people in Nigeria for 2017.

Full Details below:

1. Aliko Dangote (Net Worth: $12.5 billion)
Aliko Dangote is the richest man in Nigeria, Africa and of course the richest black man in the world. In 2014, he ranked as the 24th richest man in the world but has since then fallen to positions below 100 due to Nigeria’s poor Naira.

2. Mike Adenuga (Net Worth: $10.5 billion)
Mike Adenuga is the second richest man in Nigeria with interest in Oil and Gas and telecoms. He is the owner of Globacom, Nigeria’s second biggest telecom operators and the chairman of Conoil.

3. Femi Otedola (Net Worth: $2.3 billion)
He is the CEO of Zenon Oil and Gas and Forte Oil Plc. He has interest in real estates amongst other sectors.

4. Folorunsho Alakija (Net Worth: $2.1 billion)
Folorunsho is a business tycoon who has interest in fashion,oil and printing industries. She is the richest Woman in Nigeria and the richest woman of the African descent in the world.

5. Theophilus Danjuma (Net Worth: $1.7 billion)
Former Nigerian Chief of Army staff between 1975 to 1979. He is the current chairman of Athlantic Petroleum.

6. Abdusalam Rabiu (Net Worth: $1.5 billion)
Abdusalam is the founder of the famous BUA Group. A conglomerate active in sugar refining, cement production, real estate and port operations. In September 2015, his Group signed a $600 million deal with a chinease cement equipment service provider Sinoma Internation Engineering to construct a second production line located in Edo State Niger Delta, Nigeria.

7. Tony Elumelu (Net Worth: $1.4 billion)
A philanthropist and founder of the Transcorp and Heirs Holdings. He was the chairman of United Bank for Africa.

8. Orji Uzor Kalu (Net Worth: $1.1 billion) 
The former governor of Abia State. He is the founder and chairman of Slok Holding. A conglomerate with interest in shipping, banking, oil, trading, manufacturing and the media. He became a real business man at the age of 19 after being expelled from a Nigerian University for allegedly spearheading a series of student riots.

9. Jim Ovia (Net Worth: $1 billion)
Jim Oviah is the founder of Zenith Bank. He is the chairman and the largest shareholder with a stake of almost 10%. He also manages a mobile telecom Visafone which has over 3 million subscribers.

10. Oba Otudeko (Net Worth: $650 million)
Oba Otudeko is the Chairman and founder of the honey well group. He is also the chairman of FBN Holdings Plc. His operations spread across oil and gas, flour minning, real estate, and marine transportation.