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RADP / Pulse Ghana  >  news  >  business

Ghana's oil revenue drops by 87% in Q4

Abu Mubarik

Ghana recorded a total of US$ 44, 788, 915 in oil revenue receipts, according to figures from the Ministry of Finance, representing 87 percent drop from the third quarter’s US$341.50 million in oil receipts.

 
 

Ghana's oil revenue drops by 87% in Q4

Pulse Business can confirm that Ghana’s total oil revenue for the fourth quarter of 2015 dropped by 87 percent as compared to the total revenues in the third quarter.

Gov't rescinds decision to scrap tax on mobile phone imports

Information reaching Pulse Business reveals that the Ministry of Finance has rescinded its decision to scrap the 20% import taxes on the mobile phones and accessories.

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The ministry of Finance included the cancellation of  the import duties in the 2015 budget but the government did not enforce the removal of the taxes. According to the Ghana Revenue Authority the government did not give a final directive as to when the taxes should be removed.

Officials of the Ministry of Finance say the decision to scrap the tax is to streamline the country's import tax regime in alignment with the ECOWAS Common Tarriffs.

We go to the currency market now where

Currency                      Buying                         Selling

Dollar                             3.84                             4.14

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Pound Sterling               5.503                            5.83

Euro                              4.20                             4.50

To updates from the stock exchange today

Ecobank Ghana Limited was the biggest loser of the day, dropping 2p to close at 2.40p....whereas Standard Chartered Bank Ghana Ltd recorded the biggest gains, gaining 4p to close at 16.35p.

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Abu Mubarik Abu Mubarik Abu Mubarik is a writer at Pulse Ghana with special interests in Ghana politics, international relations and geopolitics.

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