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Investment
Ghana to issue GH¢200m bond to pay off maturing bonds
Ghana will on June 7, 2012 issue a five-year GH¢200 million bond, the central bank has said.
The bond will be issued through an auction and the purpose is to “pay off maturing bonds”, according to the Bank of Ghana (BoG).
“The instrument…
Accra Bourse Index rises on Ecobank Ghana, GOIL gains
The GSE-Composite Index (GSE-CI), the benchmark measure of performance of the Ghana Stock Exchange, rose 1.43 points to 1,024.23 points from 1,022.80 points on Monday with a year-to-date return of 5.70 per cent.
The GSE-Financial Stocks…
SEC pushes for legislation to compel foreign firms to float shares on GSE
The Securities and Exchange Commission (SEC) is pushing for a legislation that will compel foreign owned companies in selected industries for five years to float part of their shares on the Ghana Stock Exchange (GSE).
This is expected to…
AfDB, IFC agree to enter into African currency swap transactions
The International Finance Corporation (IFC) and the African Development Bank (AfDB) on June 1, 2012 signed an agreement to enter into cross-currency swap transactions to facilitate local currency lending and bond issuance in Africa.
“The…
Ecobank, SA’s PIC formally sign $250m investment agreement
The South African government-owned Public Investment Corporation (PIC) of South Africa and the Ecobank Transnational Incorporated (ETI) on May 29, 2012 signed a Subscription Agreement by which the PIC will invest $250 million in the common…
Ghana says over-subscription of GH¢300m bond shows investor confidence in economy
The three-year fixed rate bond issued by Ghana government showed an over subscription to the tune of 158.33 per cent, against a target of GH¢300 million and a total subscription of GH¢775 million.
The steady rise in investor confidence…
Actis sells 85% stake in $36m Accra Mall
Private equity firm Actis said May 23, 2012 that it has sold its 85% shareholding in Accra Mall to two South African firms. The two are retail property developer, Atterbury, and financial services group, Sanlam.
“This strategic trade sale…
Over 80% of investment promotion agencies do not respond to inquiries on agric, tourism – World Bank
A new World Bank Group report published May 20, 2012 has found that more than 80% of national investment promotion agencies are failing to respond to investor inquiries in the key sectors of agribusiness and tourism.
The report, “Global…
ECOWAS experts want legally-backed regional investment policy
Experts from ECOWAS Member States have recommended that proper harmonization of national laws and the gradual adoption of relevant instruments should precede the development of a Common Regional Investment Code and Investment Policy.
This…
World Bank’s current project financing in Ghana through IDA hits $2b
The World Bank has indicated that it is currently financing 31 projects in Ghana with credits and grants worth approximately $2 billion from its International Development Association (IDA), an agency that helps the world’s poorest…