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Ghana’s development partners asked to undertake more direct investments

Vice President Paa Kwesi Bekoe Amissah-Arthur on Tuesday asked development partners operating in Ghana, to undertake more direct investments as the nation moves to attain middle income status. He stressed that the country needed more direct investments than portfolio investments as it strives towards stronger indicators and vibrant economic growth. …

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IFC mobilizes $1.6b for Africa’s private infrastructure in 2012

The International Finance Corporation (IFC) put together an amount of $1.6 billion in investments to support private infrastructure in Africa during the year 2012. The Corporation said the 2012 investment mobilization was more than double the amount in 2011. The World Bank Group member has shifted its focus to expanding …

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US OPIC approves $150m investment facility for key African sectors

The US Overseas Private Investment Corporation (OPIC) has approved an investment amount of $150 million to boost three key sectors in Africa. The sectors are agribusiness, energy and infrastructure, and financial services which the OPIC says have been lacking long-term capital. The Board of Directors of the US agency approved …

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Capital raised from global IPO down by 30% in 2012 – Ernst & Young

The amount of capital raised through the global IPO market has fallen by 30% at $118.5 billion, according to Ernst & Young a global business in assurance, tax, transaction and advisory services. After a slow start to 2012, momentum lifted in the second quarter, but significant macroeconomic volatility and changes …

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Ghana to raise funds on capital market for housing projects

The Security and Exchange Commission (SEC) of Ghana has begun the development of regulations to guide the establishment of a fund meant to help raise money from within the country to finance the construction of houses for the people. It will be known as the Real Estate Investment Funds which …

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Ghana Stock Exchange to create new market platform in 2013

The Ghana Stock Exchange (GSE) will in March 2013 create a new market platform for businesses with growth potentials to raise capital and trade their shares. Dubbed the Ghana Alternative Market (GAX), the GSE would give priority to start up businesses, existing companies and small to medium scale entrepreneurs which …

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Republic Bank of Trinidad & Tobago confirms buying 8.9% stake in Ghana’s HFC for $8m

The Republic Bank of Trinidad & Tobago (T&T) has purchased 8.9% shares in HFC Bank Ghana for an amount of $8 million, the Caribbean bank confirmed in a statement December 11, 2012. The bank bought the HFC stake when the Ghanaian bank floated additional 112,420,246 ordinary shares under a private …

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Ghana lifts Pioneer Kitchenware’s bourse listing status suspension

The listing status of Pioneer Kitchenware Limited (PKL) which was suspended on March 26, 2012 has been lifted, the Ghana Stock Exchange confirmed in a statement. PKL’s status was suspended due to the company’s inability to hold annual general meetings (AGMs) which were in arrears. However, PKL on Wednesday, November …

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SA’s Absa to take over Barclays Bank Ghana, others for £1.3b

South Africa’s banking group, Absa and British bank Barclays today December 6, 2012 announced they plan to combine their operations in Africa for a deal worth £1.3 billion. Absa is acquiring the operations of Barclays bank in nine African countries including Ghana where it will take over 100% of the …

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Judge advocates Alternative Dispute Resolution to promote investment

Ms Georgina Mensah-Dzatsa, a Sekondi High Court Judge on Friday noted that investors are confident to do business in countries where Alternative Dispute Resolution (ADR) systems work best. This is because the ADR system promotes faster resolution of business related conflicts unlike the court which often times delayed cases for …

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