In business this week, the government is considering the reintroduction of the suspended 15 percent value-added tax (VAT) on electricity as the inflation rate continues to decline.

Last week, the Ghana Statistical Service (GSS) reported that annual inflation had slowed to a 28-month low of 20.9 percent in July – the slowest pace since March 2022 – compared to 22.8 percent June this year.

Also, the Chief Executive Officer of BEST, Dr. Edwin Provencal, has revealed that national security is after directors of 44 marketing companies for disappearing with GH¢60 million in levies owed to the Bulk Oil Storage and Transportation (BOST), now known as Bulk Energy Storage and Transportation Limited (BEST).

According to him, these companies collected levies and margins from selling petroleum products but failed to remit the funds to BOST.

He added that the company will prosecute these culprits when they are apprehended.

In election-related matters, the flagbearer of the New Patriotic Party, Dr. Mahamudu Bawumia has revealed plans for the development and construction of an airport in Cape Coast if elected as president in the upcoming December elections.

According to him, $2 billion in funding has been secured from South Korean investors to begin the Cape Coast Airport project.

Speaking at the party’s manifesto launch on August 18, 2024, Dr. Bawumia also pledged to construct a new airport in the Upper East region to boost economic growth and improve the country’s aviation infrastructure.

This week's BizHeadliness was hosted by Stella Dziedzorm Sogli.

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