Ghana

Ghana Ranks Second in Growth of Mobile Money Services in Africa: Insights from the 2023 Oxford Economics Africa Report

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In the latest edition of the 2023 Oxford Economics Africa Report, titled “The Africa Risk-Reward Index,” Ghana emerges as a significant player, securing the second position in Africa for the growth of mobile money services. This noteworthy standing places Ghana just behind Côte d’Ivoire in the continent’s mobile money landscape. The report highlights that the … Read more

Closing Chapters: Dash Fintech Shuts Down Operations

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Dash

Dash, the Ghanaian fintech trailblazer aiming to revolutionize cross-border payments for Africans by seamlessly connecting mobile money wallets, has officially closed its doors. The news of the startup’s shutdown broke through WeeTracker, signaling the end of its ambitious journey. Ambitious Beginnings Established in 2019 by Prince Boakye Boampong, Dash drew significant investor enthusiasm for its … Read more

Complete Farmer Secures $10.4 Million in Pre-Series A Funding Round

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Ghanaian agricultural marketplace, Complete Farmer, has successfully raised $10.4 million in a pre-Series A funding round, consisting of $7 million in equity and $3.4 million in debt financing. The equity portion of the funding round was co-led by The Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital, with participation from Proparco, Newton Partners, and VestedWorld … Read more

Gender Pay Gap Exposed: Women in Ghana Earn 34.2% Less than Men – Shocking Details Inside!

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The gender wage gap remains a persistent challenge in many societies, reflecting disparities in income earned by men and women. Data from the first quarter of the 2022 Annual Household Income and Expenditure Survey (AHIES) in a certain region has unveiled critical insights into this issue, shedding light on the extent and factors influencing wage … Read more

Ghana Revenue Authority Implements New Gaming Tax to Generate GH¢400 Million

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The Ghana Revenue Authority (GRA) headquarters in Accra, Ghana, on Tuesday, Feb. 28, 2023. Ghanas cedi, the worlds second-worst performing currency this year, is heading for more pain after the West African nation missed a self-imposed deadline to restructure its bilateral debt and move closer to tapping foreign aid. Photographer: Ernest Ankomah/Bloomberg via Getty Images

Introduction of the Gaming Tax The Ghana Revenue Authority (GRA) has rolled out a new gaming tax strategy with the ambitious goal of generating approximately GH¢400 million in revenue. This tax initiative centers around imposing a 10% levy on winnings derived from bets and lotteries, signifying a significant change in the taxation landscape for gaming … Read more

Zeepay’s Remarkable Growth Amidst Economic Challenges

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Zeepay, a pioneering force in the realm of cross-border payments and mobile money innovation, has showcased impressive resilience and growth in the face of economic adversities. Despite navigating through a challenging economic landscape, Zeepay reported a pre-tax profit of GH¢43.9 million by the end of 2022, marking a notable achievement in its annual report. Financial … Read more

US Ambassador Expresses Concern Over Potential Repercussions of Anti-LGBTQ+ Law on Trade and Investment in Ghana

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In a thought-provoking statement, the US Ambassador to Ghana, Virginia Palmer, has issued a cautionary note about the possible implications of Ghana’s proposed Anti-LGBTQ+ law on the nation’s trade and investment landscape. Ambassador Palmer’s remarks underscore the potential fallout of enacting legislation that discriminates against LGBTQ+ individuals. She emphasized that such a move could not … Read more

Ghana Implements 10% Withholding Tax on Betting and Lottery Wins, Sparking Debates and Compliance Concerns

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The Ghana Revenue Authority (GRA) headquarters in Accra, Ghana, on Tuesday, Feb. 28, 2023. Ghanas cedi, the worlds second-worst performing currency this year, is heading for more pain after the West African nation missed a self-imposed deadline to restructure its bilateral debt and move closer to tapping foreign aid. Photographer: Ernest Ankomah/Bloomberg via Getty Images

The Ghana Revenue Authority (GRA) has issued a significant announcement that is poised to impact the country’s burgeoning betting and lottery industry. Starting from August 15, 2023, a new 10% withholding tax on all betting, games, and lottery wins will come into effect. This development follows a recent amendment to the Tax Act by the … Read more

Legal Battle Over Mining Company Leadership Raises Concerns in Ghana’s Industry

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A legal dispute has sent shockwaves through Ghana’s mining sector, casting a shadow of uncertainty over the operations of Adamus Resources Ltd and Nguvu Mining Ltd. The turmoil stems from an ongoing dispute surrounding the execution of interlocutory injunction orders issued by the court on July 27, 2023. As tensions escalate, legal representatives for the … Read more