Hot!
Govt drops VAT on electricity, set to engage IMF on revenue shortfall
Reports suggest that the government has opted to cancel the imposition of the 15% Value Added Tax (VAT) on electricity.
This decision, which relieves consumers from the new tax on electricity bills, is said to have been borne out of a cabinet meeting on February 2, 2024.
The New Patriotic Party also posted on its official handle on X [formerly Twitter] that the tax had been dropped.
Sources disclosed that the government’s choice to drop the VAT on electricity is in response to strong opposition from the Trade Unions Congress (TUC) and other stakeholders.
Despite receiving initial approval from both Cabinet and Parliament, the widespread dissent has prompted a reassessment of the policy.
The government is now set to engage in discussions with the International Monetary Fund (IMF) to find a consensus on compensatory measures for the anticipated revenue shortfall resulting from the decision to scrap the VAT on electricity.
While the final decision on the policy remains uncertain, insiders suggest that it could either be entirely discarded or significantly reduced after consultations with the IMF.
“The position currently is that the 15% VAT on electricity is off, and it is likely it could either be off totally or significantly slashed,” reported Asaase News.
Organized Labour had planned a nationwide demonstration on February 13, 2024, urging the government to withdraw the directive to implement the 15% VAT on residential electricity consumption.
The labour groups have also announced their intent to wear red bands at work from February 5 to February 13 and have hinted at the possibility of a nationwide strike if the VAT directive is not withdrawn after the demonstration.
Source: Citinewsroom.com
Hot!
Prof Alidu Seidu files nomination for Tamale Central seat
The newly elected parliamentary candidate of the National Democratic Congress (NDC) for Tamale Central, Prof Alidu Seidu, has submitted his nomination forms to the Electoral Commission.
As of 10:00 a.m. today, he was the only person who had filed to contest the seat.
Nomination of candidates will close at the end of the day.
Associate Professor and Head of the Political Science Department at the University of Ghana Legon, Prof. Alidu Seidu won the National Democratic Congress (NDC) parliamentary primaries in the Tamale Central constituency with a landslide victory.
The elections, supervised by the party’s Elections and IT Directorate in the Northern Region, saw Prof. Seidu poll 840 votes out of the total valid ballots cast.
His closest contender, Lawyer Hanan Gundadow Abdul-Rahaman, secured 536 votes.
The other aspirants could not make significant gains, with Dr. Seidu Fiter obtaining 44 votes, Aliu Abdul-Hamid 23 votes, and the rest recording fewer than 10 votes each.
In all, 1,500 ballots were cast, with 6 ballots rejected and 7 spoilt ballots recorded.
The results were signed and declared by Dr. Arnold Mashud Abukari, NDC Northern Regional Director of Elections and IT.
The National Democratic Congress (NDC) held parliamentary primaries in Tamale Central to choose a candidate for the upcoming by-election following the death of the sitting Member of Parliament, Dr. Ibrahim Murtala Mohammed. Dr. Mohammed, who also served as Minister for Environment, Science, Technology and Innovation, tragically died in a military helicopter crash in the Adansi Akrofuom District on August 6, 2025, alongside seven others.
His passing left the Tamale Central seat vacant, as required by Ghana’s 1992 Constitution.
The Electoral Commission has scheduled the by-election for September 30, 2025. While the NDC moved quickly to open nominations and vet aspirants, the New Patriotic Party (NPP) announced it would not contest the seat, citing the need to respect the somber circumstances and promote national unity.
By: Jacob Aggrey
Hot!
Ghana to locally refine its gold starting October 2025 – Sammy Gyamfi
The Chief Executive Officer of the Ghana Gold Board, Sammy Gyamfi, has announced that plans are far advanced for the establishment of a state-owned gold refinery in the country.
Speaking at the 2025 Minerals and Mining Convention, Mr Gyamfi said the refinery will process locally mined gold into bullion instead of exporting it in its raw state.
According to him, it is unacceptable that Ghana, despite being a leading gold producer in Africa, continues to export raw gold known as dore.
He explained that the Gold Board, working with the Bank of Ghana and local refineries, will from October 2025 begin refining gold locally.
He also disclosed that an ultramodern assay laboratory will be built to ensure international standards in testing gold quality.
Mr Gyamfi noted that the refinery will be wholly state-owned and will help Ghana move away from raw mineral exports to value addition.
This, he said, will boost foreign exchange earnings, create jobs, and position Ghana as a hub for gold refining and jewellery production in Africa.
The CEO stressed that the project forms part of government’s strategy to ensure the country benefits fully from its natural resources and to transform the mining sector into a driver of economic growth.
By: Jacob Aggrey
