A 2016 report released by the Ghana Statistical Service estimated that businesses in the informal sector make up 62% of all commercial enterprises. Although self-employed persons are required to pay income tax, the Ghana Revenue Authority (GRA) only has 200,000 informal workers registered in its files. With limited demographic records and the...
According to Article 40 of its 1992 constitution, Ghana’s foreign policy is underpinned by a commitment not only to protecting the country’s interests, but also to establishing a just and equitable economic, political and social order more widely. This includes promoting the settlement of international disputes through peaceful norms and...
Generally, 2017 was a challenging year for Ghana’s accountants. In February Ken Ofori-Atta, the minister of finance, announced that over three years of off-the-books spending by the previous government had opened a GHS7bn ($1.7bn) hole in the budget, revealing the next day that the figures could be even higher.
Since assuming power in January 2017, the administration of President Nana Akufo-Addo has sought to move swiftly to restart the Ghanaian economy after a period of sluggish growth. As with many West African countries, local industry is strongly correlated with global commodities. Oil, gold and cocoa provide the three main sources of foreign...
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