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Energy Commercial Bank gets SEC approval to raise GH¢340m

Energy Commercial Bank says it has received approval from the Securities and Exchange Commission (SEC) to raise GH¢340 million in shares from the investing public. Prior to that, the Bank had received “No Objection” from the Bank of Ghana as well as the Ghana Stock Exchange to raise capital on …

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Vivo Energy and Engen Holdings firm up transaction deal

Vivo Energy has reached an agreement with Engen Holdings Limited to restructure the acquisition of Engen International Holdings (Mauritius) Limited (EIHL) by Vivo Energy’s subsidiary, Vivo Energy Investments B.V. The restructured transaction is now unconditional besides the customary closing conditions including material adverse change clauses. All required regulatory and competition authorities’ …

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Italian producer Eni is biggest foreign investor in Ghana oil sector in 2017

The oil sector in Ghana received the largest chunk of foreign direct investments in 2017 with Italian oil company, Eni being the biggest foreign investor in the country that year. Ghana became an oil producer in December 2010 three years after the country announced it had found oil in commercial …

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Don’t patronise unlicensed investment schemes – SEC warns

The Security and Exchange Commission (SEC) Thursday cautioned the public against patronising unlicensed financial investment schemes and products, which are being marketed through various media forms, including electronic, outdoor and mass media advertising.  “Operators of these unlicensed financial investment schemes are in serious breach of various provisions of the Securities …

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There is the need to build capacity of local insurance companies – Ofori-Atta

Mr Ken Ofori-Atta, the Minister of Finance, said there was the need to build the capacity of local insurance companies to empower them to handle the risk associated with the oil and gas sector. Mr Ofori-Atta was speaking in an address read for him at the commissioning of the Serene …

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Total of $9.1b FDIs into Ghana generate 6,056 jobs in 2017 – Report

Ghana’s total foreign direct investments (FDIs) in 2017 generated 6,056 jobs across all sectors of the Ghanaian economy – this is contained in a detailed report on Ghana’s 2017 foreign direct investments emailed to ghanabusinessnews.com by the fDi Markets magazine, data service of the Financial Times. Ghana received $9.1 billion …

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AfDB approves $15m equity investment to grow SMEs

The Board of Directors of the African Development Bank has approved a $15 million equity investment in Verod Capital Growth Fund III, to boost the growth of small and middle-scale enterprises (SMEs) in West Africa. The investment is a private equity fund that will make investments in high growth middle …

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President assures safety of Chinese investments in Ghana

President Nana Addo Dankwa Akufo-Addo on Wednesday assured China’s business community of the safety of their investments in Ghana, urging them to make the country their preferred business destination in Africa. “Ghana is a haven of peace, security and stability, and because she protects legitimate investments…and you should take advantage …

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MTN Ghana lists on Ghana Stock Exchange

MTN Ghana (MTNGH) Limited, a leading telecommunication company, was on Wednesday listed on the Ghana Stock Exchange (GSE) to pave way for trading of shares. Its shares will trade under the symbol ‘MTNGH’. The listing makes MTN Ghana Ltd the first telecommunication company to list on the GSE and has …

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Norwegian investors urged to invest in Tema Shipyard

Mrs Alice Torkonoo, the General Manager of Business Development, Ghana Ports and Harbours Authority, has urged Norwegian investors to invest in the Tema Shipyard facility. She said the Shipyard was strategically located to help support the operations of the oil and gas sector of the country. Mrs Torkornoo said with …

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