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Government of Nigeria urged to stop relocation of businesses to Ghana

Nigerians are on edge over the fact that companies in the populous West African country are shutting down and relocating to Ghana. Some of the reasons why the companies are closing shop and moving to Ghana, include the inadequate and unreliable power supply in Nigeria. Despite the fact that Nigeria …

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South African company to build $6b oil refinery in Ghana

A South African company, New Alpha Refinery Ghana Ltd., has won a multi-billion dollar contract to build an oil refinery in Ghana. The refinery, when it is completed will be the largest in West Africa. According to a Reuters report quoting an official, the company has signed a memorandum of …

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Tullow Oil makes progress in Ghana oil and gas project

Tullow Oil is making progress with its oil and gas exploration project in Ghana. The UK-based oil and gas company says the phase one of the Jubilee oil field Plan of Development has been finalized with the government of Ghana awaiting formal approval. In a press release on its trading …

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Ghana to buy Kosmos Energy’s Jubilee stake

Ghana is interested in buying Kosmos Energy’s stake in the Jubilee oil field, the Bloomberg news service has reported. According to the report the state-owned oil and gas company, the Ghana National Petroleum Corporation (GNPC), may buy Kosmos Energy’s stake in the $3.1 billion Jubilee oil field. The report quoted …

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Ghana Stock Exchange index makes another marginal rise

The main index of the Ghana Stock Exchange (GSE) inched up by 0.95 points in trading on Thursday to close at 5,427.20 points from 5,426.25 points. Change for the year to date is -47.97 per cent. Shares that changed hands closed the session at 362,900. Market capitalisation was up marginally …

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Investing in shares: Long term investing vrs market timing

There is a common saying that goes, “Don’t judge a book by its cover”. Some valid words of wisdom for investors could be, “Don’t judge a stock or share by its current price movement”. Despite several cautions against hasty decisions, many investors still incorrectly ask, “Which share is currently doing …

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Tullow to benefit from oil price rise

The Tullow share price fell by 10 per cent to €6.80 this week following the placing of 67 million new shares. However, with a huge increase in its reserves and its banking facilities in place, Tullow is well-placed to benefit from any increase in the oil price. Announcing the placing, …

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Ghana Stock Exchange begins online trading in February

The Ghana Stock Exchange (GSE) would complete its Wide Area Network (WAN) in February and traders can start trading from their offices. This development would make trading easier for businesses. A Citi Business News bulletin monitored by ghanabusinessnews.com says the WAN is part of the automation process of the GSE. …

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TV3 ready to float shares

One of Ghana’s private TV stations, TV3 is set to make history as the first private broadcaster to go public when the station floats shares at the Ghana Stock Exchange. The company has received approval to float its Initial Public Offer (IPO). Information reaching ghanabusinessnews.com says that listing documents for …

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Kofi Bentil calls for focus on services sector

Mr. Kofi Bentil, a lecturer and Business Strategist says Ghana must make a conscious effort to focus on the services sector for economic growth. The University of Ghana and Ashesi University lecturer, said a deliberate and concerted effort to turn Ghana into services based economy is desirable because the country …

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