In business this week, the High Court cleared Tobinco Pharmaceuticals Limited (TPL) and its Group Chairman, Elder Dr. Samuel Amo Tobbin, of any wrongdoing in the case filed against the company by the Food and Drugs Authority (FDA).

FDA had accused it of importing fake drugs into the country.

In a press release issuedd by Tobinco on Sunday, August 11, 2024, the court presided over by Her Ladyship Audrey Kocuvie-Tay, in a ruling dated July 29, 2024, stated that the company never imported fake drugs into Ghana.

The company indicated that it sued the FDA on July 19, 2019, when it was led by its former Chief Executive Officer, Dr. Stephen Kwabena Opuni, accusing it of abuse of statutory powers.

On inflation, Ghana's inflation rate has seen a further decline from 22.8 percent recorded in June of this year to 20.9 percent in July, the Ghana Statistical Service announced.

This represents a fourth consecutive time that the rate has dropped this year.

On taxation, John Dramani Mahama has stated that he's committed to abolishing betting tax and the Electronic Levy (E-Levy) if elected in the upcoming 2024 national elections. 

Speaking at the National Democratic Congress (NDC) Youth Townhall Meeting in Accra, Mahama outlined his vision for addressing key economic issues that have been a burden on Ghanaians.

Mahama criticized the E-Levy, a tax on electronic transactions, stating that it has failed to meet revenue expectations while placing unnecessary financial pressure on citizens. 

This week's BizHeadlines was hosted by Ernestina Serwaa Asante.

Watch the latest edition of BizHeadlines below:



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