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All you need to know about Free zones in Ghana
A free zone is a designated area in which companies are taxed at highly reduced rates or nothing at all in order to encourage investments and increased economic activity within the economy.
The creation of free zones also has the effect of generally regarding import and customs duties of goods imported by free zone companies as being outside the customs territory and thus exempt from tax. Free Zones basically are “outside jurisdiction” for all transactions with Customs.
Free Zones in Ghana
The Ghana Free Zones Authority (GFZA) was set up to enable the creation of free zones in Ghana and to regulate free zones activities within the country. The legislation governing the GFZA creates an attractive environment through the provision of very attractive incentives to free zone companies.
Eid al-Fitr 2021: Taking a strong business stance during the festival
Eid al-Fitr also known as the “Festival of Breaking the Fast,” is a religious holiday celebrated by Muslims across the world to mark the end of the fasting season of Ramadan.
According to Encyclopedia Britannica, Eid al-Fitr celebration is held during the first three days of Shawwal, the 10th month of the Islamic calendar.
Eid al-Fitr celebration – The date
The exact date of Eid al-Fitr celebration is never certain as celebrations vary from locality to locality. Religious authorities in various countries rely on the sighting of the Eid crescent moon to announce when it will officially begin. In Ghana, the observance will take place on Thursday, May 13 this year.
An Entrepreneur shares financial management tips that will sustain your business
The first few years for any new business are crucial to its long-term growth and success. Sound financial management is and should be at the heart of every business irrespective of business scale (large, medium, or small).
Many Start-up businesses collapse within 3-5years of trading. This is sometimes not as a result of lack of customers or poor service/product but as a result of improper financial record keeping and monitoring.
In a Ghana Talks Business interview with Nana Yaa, CEO of Medoba she outlined sound and practical financial management systems you can adopt as an entrepreneur to help grow and sustain your start-up venture.
A Banker turned Successful Shoemaker -The entrepreneurship strides of Frederick Mawuli Degbee
Leaving a stable income-earning job to venture into the brave and sometimes yet ‘unknown world’ of entrepreneurship can be daunting. When your newfound venture does not take off as imagined, you begin to question your decisions and beat yourself up in the struggle.
This is why it is imperative to have all the necessary homework done to find out how viable and scalable your business model is before plunging your entire self into the venture.
Meet Frederick Mawuli Degbee, the CEO of Heel The World, a shoe manufacturing company based in Ghana.