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Investment

Ghana’s golden pool of investment opportunities – The BBB Alumni

Looking for where and what to invest your money into in Ghana should not be difficult to do, because opportunities for making investments in Ghana are growing by the day. A good number of resourceful and dedicated Ghanaians are digging deep into their creative reserves and are discovering their entrepreneurial …

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Red Back Mining to raise C$150m in share sale

Red Back Mining will sell 20-million shares on a bought deal basis to an underwriting syndicate, at C$7,50 a share. The company will raise C$150-million through the fundraising, which will be coled by Cormark Securities, BMO Capital Markets, GMP Securities and Scotia Capital. The proceeds will be used for working …

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World Bank predicts drop in FDI in developing countries

Developing countries will suffer a dip in foreign direct investments (FDI), the World Bank has said. It is projected that there would be a drop in FDI to the tune of $180 billion in 2009. The effect of this fall would be felt in 10 of the world’s countries that …

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World Bank punishes corruption

The World Bank has issued strong signals to institutions and businesses that it would not tolerate corruption in. The Bank has therefore, taken strong actions against seven firms and an individual for engaging in what it calls “collusive practices.” In a statement copied to ghanabusinessnews.com, the Bank announced the debarment …

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Tullow seeks fresh debt in $2 billion refinancing

Tullow Oil Plc, the U.K. explorer seeking funds for projects in Ghana and Uganda, is selling shares and negotiating to increase a borrowing facility to $2 billion. The company is in talks with banks to add about $600 million to an existing $1.4 billion debt package, using its stake in …

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Tullow shares fall on rumours of share placing

Shares in Tullow Oil fell over 5 percent in late afternoon trade, as dealers noted vague talk the explorer could launch a share placing on Wednesday. Tullow Oil will issue a trading statement and operational update on Wednesday, and traders suggested the capital raising could accompany this news item. “This …

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Tullow waves Ghana as it taps banks for more money

Tullow Oil has confirmed strong oil flows from its deepwater Jubilee discoveryoffshore Ghana. The announcement Monday of successful appraisal at the Hyedua-2 well on the Jubilee field comes as the UK independent is locked in talks with banks to raise its borrowing ceiling to $2 billion to help fund a …

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Epack fund hits GH¢108m

Total funds in Epack’s investment portfolio, a mutual fund managed by Databank Group, reached GH¢108.63 million in June last year. The figure represents an increase of 91.13 percent from its level in the same period in 2007. The fund’s net current assets for the period came to negative GH¢93,850, which …

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Tullow goes to IFC for $115m loan to invest in Ghana

Information reaching ghanabusinessnews.com indicate that Tullow Oil has gone to the International Finance Corporation (IFC) for $115 million in corporate debt to back the Jubilee field development in Ghana. Attempts by ghanabusinessnews.com to get clarification from Tullow’s Ghana office was unsuccessful as all officials were said to be busy at …

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Ghana Stock Exchange starts year on the low

Market activities on the Ghana Stock Exchange (GSE) continued at its low pace throughout the week, enduring the bearish trend that has characterized the market from the beginning of the year. SG-SSB, GOIL and SIC racked up the list of laggards with drops of between 4 percent and 7 percent …

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