Business News of Monday, 7 October 2024
Source: Citi News
Deloitte's October 2024 Oil and Gas Industry Survey highlights key challenges in Ghana's petroleum sector, with 46% of stakeholders citing high tax rates as a major issue impacting profitability and growth.
About 42% of industry players advocate for tax amnesty to foster a better tax environment.
Additionally, 80% struggle with forex acquisition due to high exchange rates.
While 91% believe local content regulations sufficiently support Ghanaian participation, concerns persist about discouraging foreign investment.
Top management emphasizes the importance of public ESG disclosure, with companies receiving a 4.22 rating for transparency on environmental and social impacts.