Today's Ghana Business, Banking and Economic news

Disney chief executive Bob Iger says he is cutting 7,000 jobs in a major shake-up of the entertainment giant.

The National Petroleum Authority (NPA) has announced its decision to take legal action against Oil Marketing Companies (OMCs) that have defaulted on the payment of Primary Distribution Margin (PDM) fund.

Government has extended the window for bondholders to complete tender processes as part of the controversial domestic debt exchange programme.

The Customs Division of the Ghana Revenue Authority (GRA) says its objective of creating an inter-generational exchange among customs officers is in line with the World Customs Organisation’s (WCO) agenda to place younger generation at the heart of global customs transformation.

A delegation from the Africa Export and Import Bank (AfriExim Bank) has paid a courtesy call on a Deputy Minister for Finance, John Kumah.

The National Pe­troleum Authority (NPA) has assured the public that the Gold for Oil (G40) initiative will meet 50 percent of the country’s oil demands by March 2023.

MTN Ghana will from February 7 begin the implementation of the 15 percent upward review of its mobile data prices for both Pay Monthly and Pay-As-You-Go users.

The National Petroleum Authority (NPA) has revealed that the initial 40,000 tonnes of diesel that arrived in January under the Gold-for-oil policy were valued at US$40 million.

President Akufo-Addo on Friday urged Germany to “encourage” China, an ad hoc member of the Paris Club, to support Ghana’s debt restructuring efforts.

Some 11 out of 27 Oil Marketing Companies (OMC) that benefitted from the Gold for Oil policy have failed to reduce prices of their commodities, Dr Amin Adam, the Deputy Minister for Energy has said.

Introduction:

1. The Gold for Oil (G4O) Programme is an initiative of the Government of Ghana to use the existing Bank of Ghana (BoG) Domestic Gold Purchase (DGP) Programme to support the import of petroleum products into Ghana.

The Ghana National Gas Company (GNGC) on Friday signed a Project Implementation Agreement with its joint venture partners to construct a second Gas Processing Plant (GPP Train 2) at an estimated cost of US$700 million.

MTN Group Limited, Africa’s largest wireless carrier, has said a GH¢8.2 billion ($672 million) tax bill it received from the Ghana Revenue Authority (GRA) has been scrapped.

Ghanaians will from today February 1, 2023, start paying more for electricity and water following the upward tariff adjustment announced by the Public Utilities Regulatory Commission (PURC) last month.

The Minister for Works and Housing, Francis Asenso-Boakye (MP) has revealed government’s commitment of GH30m towards the initial implementation of the newly introduced National Rental Assistance Scheme (NRAS).