Business news that made headlines this week

This week, the government secured GH¢1.79 billion from the sale of treasury bills in its latest auction held on April 17, 2023.

The auction saw an oversubscription of GH¢125.58 million even though interest rates have been rising.

The target for this week’s auction was GH¢1.66 billion.

Also, interest rates have increased slightly to an average of between 19.74% to 26.9%.

Also, First Deputy Speaker of Parliament Joseph Osei-Owusu is incensed over what he calls the over-exploitation of Ghanaians by members of GUTA.

According to the Bekwai MP, GUTA has lost the moral right to complain about tax hikes alleging that members of the association under-declare their products and also overprice their goods to gain huge profit margins.

Joewise who is unhappy with the current development was reacting to concerns raised by GUTA over the introduction of the 3 revenue bills approved by parliament.

But GUTA, in a strong-worded response to the claims made, expressed dismay over the remarks made by the respected lawmaker.

“He [Joseph Osei-Owusu] should know that the authority vested in him is by the people of Ghana and therefore, he cannot impose his will on Ghanaians, let alone members of the business community who constitute the economy of Ghana,” the statement said.

Watch a wrap of business stories that made headlines this week

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